The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-23


edscs. but, for all that. the problem
is present IN the minds OF every think
ing man. and Its Importance Is fully
recognized Though doctors disagree
as TO tho solution, they all admit tina
inc ilnal settlement must adopt either
restoration OF competition or tho cs-
tablishfpent of State socialism. The
owners of tho steel trust would seem
! !nRiy he the last people on earth who
1 want the State to como in and reSu-
late prices. Yet. this WAS practically
I the suggestion that Judge Gary nra.ic
/ IN his testimony before the congress
/ SIGNAL committee Mr. Roosevelt, Nj.
carncgic and ali their fuglcmen ERE
/ sHuin,ing in the same direction, and
are urging the amendmcnt OF the Shcr-
men law as tie frs, step towards SOW
eminent control OF private business
Is moi this belief that grea, monop-
! oiies are both necessar: ana cxpudi-
On; another Illusion: Can America
poin; to what It's monorol.es have
done and demonstrate thcrctrom that
the welfare OF this country has been
increased"
since It's inception the United States
Stsei Corporation has earned millions
in dividends on stock that was nothing
bur water Inc steel ;rus, has driven
The unions cu Of Pittsburgh; has COM
pelisd It's workers to ;on for longer
hours and FOR smaller wages ana has
permitted conditions 10 grow up
which an Impartial Investigating COM
mission declared to be unequuIed in
any modern city outside OF Russia
But this enormous powe: TO Increase
prices and TO reduce cost of operation
has not been able TO hold the foreign
markets for the American steel manu-
tscturers. In the big boom period be-
ginning III 1895, when all OF Europe 1
was terrified by tho threatened Amer
lean invasion, It was the Independent !
competing manufacturer that made
these exports possible. Since then the |
uni: OF manufacture has been enor-
,nousiy magn'fed. but the economies
which were sought By thi. enlarge |
ment have not been Forthcoming.
To this paper 1t seems that Mr. Lewis I
L. Brandcis holds a soundcr view when /
he says:
The economies of monopoly are su-
rerlicial and delusive. The efficiency
OF nonopolies Is, at best, temporary.
Competition Involves waste bu; what
human activity does not? The unit In
business may be too large or too small
10 lie efficient Tho danger Is greater
NJ IL. No.
for efficiency than OF competition maxi
ing tho unit too small"
Competition may crush out some few
weaklings, out 1t will never cnslave
the whole country. Until the miller
MUM comes there Will oe no hope OF
being free from the great problems OF
government and business. For cur
part we would rather have TO deal
with the problem OF competition. with
all that II implies in tho cultivation
OF indlridual initiative, than TO endure
the s,agnat!on Of State socialism, with
its crushing burdens OF petty official
dom.
older and wsarier nations may
turn TO the drcamless sleep of social
ism as welcome change from their
present condition, but the people of
the United states are stsM young
enough ana vigorous enough to prefer.
and wisely prefer. competition.
The morey powers own the rail
roads and the Only solution which the
DlbIic could fnt was a commission TO
regulate the prices, In later days the
none power got control OF nearly
svery other large industry in this
country ana ,arottled and z,a:'ped out
competition. as in tho case o: the
railroads. the public Will be driven 70
. choice between an equal opportunity
fo- all or government control
If The sherman Law is enforced Wig
orously enough v'e Will know whether
II holds the :errors that sro now
prophes!ed ~ the advocates fer lis
eraal or amendment