The Washington herald., 1907-10-25

The discussion Of the trust problem at
the Chicago conference is notably free
from the rancorous and wholesale de
nunciation Of our great modern corpora
tions that has heretofore characterized
such gatherings. Financiers, jurists, col
lege presidents, lawyers. and even rep
resentatiyes of labor join in expression
Of a belief that trusts ought to BE- re-
formed, rather than abolished. 1T IS idle
chatter" says Mr.. Gompers, president Of
the Federation Of Labor. Ito talk Of
annihilating trusts. The trust is. eco
nomicauy speaking. the logical and in
evitable accompaniment and development
of our modern commercial and Industrial
system. our modern plan Of production,
which for brevity and convenience we
call the trust system, is the most perfect
yet attained" President Butler. Of Co
umbia University. calls the industrial
corporation "one Of the most benefcent
results of the development Of the nine
teenth century," ITO seek to abolish
trusts as such is visionary" is the opin-
ion Of Isaac \. Seligman, Of New York
Judge Grosscup optimisucally looks upon
the corporation as the instrument by
which the people will eventually own and
control the Industrial mechanism Of mod
ern society, not under the sOCialistic or
der. but under a regime of private owner
ship.
It is absurd to say that any Of these
men are under the influence Of corporate
wealth. None Of them miHimiZes the evils
Of trust methods. All favor stringent
governmental regulation, but regulation
Of a constructive, not destructive sort
Their attitude toward the trusts is due &c
a growing realization that production and
distribution on a large scale. requiring
the employment of enormous capitals, has
a normal place in the Industrial evolu-
ton, not to say revolution, that has been
going on since the advent of the factory
system and the rise of rapid and efficient
means Of transportation. This evolution
has been accompanied by a decline in
the ferocity and intensity of competition
and a parallel growth of the principle Of
cooperation and combination. Chancellor
Andrews the other day declared, though
q
competition is not an ordinance Of God.
Competition Is ended" confidently af-
firms the socialist writer. Gaylord VIII
shire, who commends John D. Rockefel-
ler-s observation that "we can no more
return to the day of individual competi-
ton than we can TO that Of hand labor -
SO also President Butler speaks OF un-
duly exalting the principle of competition
and failing TO emphasize the public bene-
fits from properly regulated and super
vised cooperation.
Holding such views respecting trusts
I and competition, 1t is not strange that
| some of the speakers at the conference
should have fallen foul Of the Sherman
antitrust act. the vital aim and purpose
Of which is the prevention Of all agree
ment and cooperation among traders and
| producers and the maintenance of COM
petition free and unrestrained. President
Butler well expressed the opinion of those
who favor amendment of the Sherman
/ law when he said that it commits the
nation TO a policy which is extreme, etc
a policy that in putting an end to GER
4 tain admitted evils. also puts an end to
certain demOnstrabIe benefits" It Is COM
| ing to be more generally understood that
| this law. which so many people think
/ should be vigorously enforced, brands as
illegal many usages of trade and indus
| try commonly regarded as perfectly le-