Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1904-04-28
EMPORIUM, PA. THURSDAY, APRIL 28 1904.

and of labor, the rise of combinations
in industry and the sudden decline and
fall of many of these modern creations,
the one striking fact which stands out
in the forefront of it all is that the pro.
tective system has furnished the op-
portunities for capital and labor, has
diversified our industries and made
the United States the chief manufac
turing and producing country of the
world and the richest in individual
and collective wealth of any country
on the globe.
1t is claimed by Senator Dolliver,
who has made special study of our
economic development, that the trade
and industrial policy of the United
States, is, in the long run, destructive
to gigantic combinations which at
tempt to control the markets and raise
prices unduly to the prejudice of the
consumer. The spirit of speculation,
which is particularly active in prosper
GUS times, has had much to do with
the formation of the large combin "a
tions of capital, whose success as the
careful analysis demonstrates, depends
upon the sale at the least obtainable
prices, of the entire product of these
corporate enterprises. 1t is shown
that in respect to oil and sugar, natable
examples of the popularity known
trusts, the success of these enterprises
does not come from attempts as arbi-
trary putting up of prices, but from
saving in the cost of production and
distribution, and in getting onto the
market at the best obtainable price the
whole of the output of the corporation
engaged in the enterprises. The oil
business is constantly fighting against
the competition of improved processes
in gas and electricity; failure of a
fruit or berry crop, in the canning Cf
which thousands OF tons of sugar are
employed, depresses the sugar market
and prices, fall, for the sugar stock
must be disposed of. An unsold stock
brings no profits to the producers of
the article.
Facts will be brought out to show
that safety lies in preserving the sys-
tenn under which our Industries de.
velop. The disposition among all peo-
pie to defer purchase in time of high
prices has an effect to depress prices,
and all these workings of settled prin-
ciples of economic law tend to preserve
equitable balances. But it can only
be done, and economic laws can only
work out the betterment of industrial
conditions, when there are opportun-
tiles for the employment of capital and
labor. Mr.. Hamilton demonstrates
from the returns of the last census that
only IL per cent. of the man ufactures
of the country are produced by So
called trusts. With nearly 90 per cent.
of the producers of the country en-
gagged in independent production and
competition, and holding the Ameri
can market to the fullest extent known
in recent years, that market, the best
in the world, because it is made up of
the best paid people in the world,
should not be made the dumping
ground for foreign producers to "save
our people from the grasp of combina,
tions in industry"
Thus it is that, viewed from every
standpoint, and considering even the
combinations which exist in Protection
countries as in Free Trade countries,
the safety of industry and labor in
this prosperous country will come
from maintaining our present system,
not from being frightened into Free
Trade schemes by the Democratic
warnings"
A. J. d.
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