The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1907-05-07
BY A. w. Miller.

Washington, May 6-Compulsory
publicity of the business of all indus
trial combinations is advocated by
John Mitchell, president of the United
Mine Workers. as insurance against
the great evils of which mOnopOlleS
are capable. Mr.. Mitchell has made
statement of his views on the Ques
ton of Trusts and Their Treatment"
as discussed by William J. Bryan and
Senator Beverage of Indiana, in their
joint debate in the May number of
the Reader Magazine. Senator Bev-
eridge then advocated a, federal pub
Lefty law as the most effective means
of curbing the trust evils like stock
watering and over capitalization and
announced his purpose of advocating
such a measure in congress-. Mr..
Mitchell, taking up the trust qiiestiOn
from the standpoint OF the wage-earn.
er, takes a firm stand in favor of
opening the books of the trusts TO the
gaze of the world. His statement
says:
of the SUBJECTS disFEss Cd 20 he
discussed by MIR. Bryan STld Mr. Bev-
eridge, none have approached and
Iflzely none will approach IN interest
and importance their con, 5bation
upon Trusts and Their Treatment
1T would be, of course, presump-
tious for me 10 Criticise the attitude
of these distinguished statesmen upon
a subject in regard to which they are
so eminently qualified to speak.
Whatever the advantages or dis
advantages, the merits or faults of
trusts as they exist today, it is newt
able that industrial combinations
shall continue to exist. The industrial
organizations of the future may not
he run in the same way or with the
same freedom as at the present time;
it is probable that eventually they
will come under more rigid and ef-
fective control of the national govern
ment
The system of competition which
for many decades reigned supreme
has now, to a certain extent de-
stroyed itself. Free and uncontrolled
competition has in many phases of in
dustrial life been weighed in the bal
ance and found wanting. 1t is now
seen that in the case of railroads,
street railways. telegTaphS, tele-
phones. gas works and many other
Industries. men and corporations will
not compete where they can combine.
Competition in many industries has
proved itself WaStefui. 1t has led to
the widest excuses of production;
has created alternating periods of
exaggerated prosperity and extreme
depression. and has forced men TO
produce in the dark to furnish the
supply without being able TO calcu-
late the demand.
There are three points Of view
from which the trust question may
be approached of the investor,
hn
The wage earners Of the country ara
interested in the trust problems from
all three points of view They are
interested to a slight extent as in
VeStOrS, to a greater extent as con-
sumerS, and to a still greater extent
as wage earners. The wages of the
wOTkingman are measured, IN the
final instance. not by mere amount
of money contained in his envelope.
but by what that money will buy.
The trust question IS not whether
we shall have industrial combinations.
but how and in what manner and 10
what extent trusts shall be regulated
By the national government. If the
industries of the country are 10 be
monoColzed and 70 be beyond ,he
control Of the law. Il Is possible that
despite the economy Of production
prices Will rise and the cost of living
10 wOrkingmen will be increased.
Fear OF potential competition may
keep industrial com b.naJiOns from
unduly raising prices and they may
be maintained at a reasonably low
level in order to prevent other CAPT
tai from entering the field; ii is not
wise and safe however. 20 trust 10
the generosity or self interest of the
men in control Of these industries. and
the fullest publicity should be afford
ed and required 50 that wCr+ingmen
as well aE other CidZens-may
know what prices are being charged.
what profits are made. what capital
is invested: and 20 this end tIe essen
tial feature Of trust legislation must
be compulsory publicity and cTimi-
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