Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1912-10-16
TWO Big ISSUES,
SAYS GOLFERS
The Tariff and the Proper Treat
ment of Monopolies.
WON'T TIE TO ROOSEVELT
"ActiveIy Disagrees" With His Views
About Trusts and "Wastes of Com
petition" and Supports the candl-
dacy of Wilson and Marshall.

petition" and Supports the Candl-
dacy of Wilson and Marshall.
Golfers is out for Wilson and Mar
shall. 1t refuses to support Theodore
Roosevelt, plus George W. Perkins,
Elbridge H. Gary and the rest of the
steel trust-harvester trust magnates.
Its open opposition to the third term
ticket was indicated in the issue Of
Sept. IA. In the issue of Sept. 21 it's
reasons for espousing the Democratic
cause are clear and forceful.
The leading editorial, ''The Wastes
of Competition" says:
"More and more the campaign is
coming down to two pressing issues,
the tariff and the proper treatment of
monopolies. Golfers actively dis
agrees with the view Of monopoly be-
ing urged by Messrs. Roosevelt, Per-
kins and Gary.
"They talk great deal about the
wastes of competition. The necessary
wastes of competition are relatively
insignificant, and the wastes of unfair
and destructive competition are wholly
unnecessary. They will be largely
eliminated when competition is regu-
lated.
"The La Follette-Lenroot and the
Stanley bills to perfect the Sherman
law and the Newlands- Cummins pro-
posals for an interstate trade commits.
sion are all directed in part to that
end. The remaining wastes Of compe-
tition may be Hkened to the wastes of
democracy. These are obvious, but we
know also that democracy has COM
pensations which render 1t more eff
cient than absolutism. So 1t is in in
dustry. The margin between what
men naturally do and what they can
do is 80 great that the system which
urges mel on to effort is the best sys-
tenn.
"The necessary wastes Of monopoly,
on the other hand, are enormous. Some
by regulation. An efficient interstate
trade commission, acting under appro-
pirate legislation, could put an end to
much Of the oppression Of which trusts
have been guilty. 1t could prevent un-
just discrimination. It could prevent
ruthless and unfair use of power; but
government commission would be
powerless to secure for the people the
low prices commonly attendant upon
competition.
GAS no means exist for determining
whether greater net earnings are due
to greater efficacy In management or
to excessive profits, large net earnings
would be followed by compulsory re-
duction of prices, which in turn would
create sense Of injustice suffered.
paralyze individual enterprise and pro-
duce unprogressive, slipshod manage
ment. The attempt to secure 1ou
prices through price fning pould
proUe as 1mpotent as the statutes
1ozich hGVe sought to protect the pub
Tic d, railroad rates by limiting the
diUidends.
"The interstate commerce commits
plOl hdo US0A lAVOhCU DIS I'LL argument
In favor of licensing monopoly. That
commission has stopped many abuses;
it has practically put an end to cor
rupt and corrupting discrimination in
rates; it has protected the shipper
from oppression and arrogance and in
advances in rates; but 1t has secured
comparatively few notable reductions
in rates, except those involved in
stopping discrimination between per-
sons, places or articles. 1t has been
poa0erless to reduce operating costs,
and greater reductions In rates can
come only aoith reductions in the cost
of producing transportation. The in
Justice and corruption attending the
earlier railroad period were extremely
serious. But we must not forget that
tile sa0eeptaag reductions In american
operating costs and rates belong to the
earlier period of competition among
railroads. In the ten years from 1889
to 1899, while competition among the
| railroads was active, the freight rate
per ton per mile was gradually re-
duced from .941 to .724. The years
1899-19OO marked the great movement
for combination or Community of in
terest" in the railroad world as well
as in the industrial world. The freight
rate per ton per mile began to rise. In
each of the eleven succeeding years 1t
was higher than in 1899, and in 1910
1t was .753.
"The deadening effect of monopoly
Is illustrated by its arrest of inven-
ton. The shoe machinery trust, form
ed ip 1S99,. resulted in combining, d.
rectly and indirectly, more than 100
shoe machinery concerns. It acquired
substantially monopoly of all the es-
sential machinery used in bottoming
boots and Shoes, as well as many 9TH
er machines. It believed itself unas-
sailaDle, and shoe manufacturers had
come to regard their subsection to the
trust as unavoidable. Nevertheless, in
1910 the trust found its prestige sud-
denly threatened and its huge profits
imperiled. 1t was confronted with q
competitor SO formidable that the
trust, in fragrant violation of law, paid
$5,0o0.000 to buy him out. Thomas a..
Plant had actually succeeded in devel-
oping in about five years. while the
tyryat 80. sk>ylA N~nnn