The Washington herald., 1909-05-03
The Future Battle Ground.

Edito- Ths Washington Herald
Your editorial under the caption New
Trust Ideals touches upon matters
which are talked Of By many and under
stood by few From the trust buster
from Arkansas 70 the trust maguate Of
Wan street, public opinion seems 70 be
in a formative state There is no gain
saying the fact that the greater agrega-
ton Of capital makes possible greater
efficiency In production manufacture and
, distribution. In effeCting these economies
the trusts are put il position 70 lower
the margin Of profit. because large vol
ume az small profits VIII yield more than
small volume at large profits. All ma
teriaI progress depends upon this prin-
ciPle- As the margin Of profit falls, the
smaller manufacturer finds Il increasingly
difficult 10 sustain himself, and finally
sUCcumbs, Just as the stage coach droppsd
out when the railroad appeared The more
closely the trusts adhere 10 economic
law, the more efficiently they serve the
public the more nearly they approach
the ideal Of good trusts. the more terrific
and destructive becomes the competition
between them and the smaller concerns
engaged IN similar lines or service. From
the competitors point Of view. the good
trust Is the most dangerous trust. This
great concentration OF power can be
welded for good or bad purposes
II It IS used TO raise prices. it Injuries
the public; r TO lower prices and TO di-
vide economic savings with the public, II
destroys the weaker competitors. Al
illustration Of this may be seen In the
frantic efforts Of the small oil producers
to help keep protection on the products
OF the Standard oil Company. They real
ize that If the Standard divides economic
savings with the public that they must
fail victims 20 the remorseless action Of
economic law That cooperation. with It's
attendant aggregation Of capital. has been
highly beneficial IS generally recognized
It's benefits have been sufficiently distrih-
ute5 70 effect a marked change in our
civilization It IS unreasonable 10 suppose
that The world VIII ever 20 back TO the
day OF small things. It IS more probable
that broader cooperation and greater az
gregation viii take place, and the pro-
gression continue until the limit Of great
est economic efficiency is reached That
there viii be attempts 20 abuse these
great powers goes without saving. b1l+ II
Is hardly likely that people viii forego
the benefits simply because there is an
occasional abuse, any more than the O7lb-
lie viii DO without railroads because some
drunken engineer occasionally bitches a
train. Perhaps the greatest danger fo be
epprehended from the trusts is political
rather than material Their own selfish
interests viii be best subserved BY giving
good service al reasonable prices: but n
Is hardly supposabIe that this great cor
centrstion Of power IN private hands wiz
aot Be welded 20 influence governmental
policies and administration For this rea-
son government regulation wiz prove a
failure. because the trusts viii control
the government and Shape the policies OF
the regulatory forces.
The trusts. having control Of the ma
ehinery Of manufacture and distribution.
win have power 10 disturb conditions al
anv time 70 al extent that will euabIe
them to coerce the people 20 adopt auv
policy which they may suggest The fact
hat this power 20 disturb and disrupt
conditions existed, even though il were
aot exercised, would tend TO cover the
people. as vas actually done to some exc
.sut IN the last Presidential election.
I see no remedy for the evils OF private
monopoly consistent with retaining the