Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1912-10-27

Golfers 1. out for wilson and Mar
shall. II refuses to support Theodore
Roosevelt plus George. w. Perkins,
Eibridge II. GARY and the rest of the
steel trrst-harvester trust magnates.
Its open opposition TO the third term
ticket was Indicated in the issue OF
Sept IL In the issue OF Sept. 81 its
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 tart1 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 composition are wholly
unnecessary. They will be largely
eliminated when competition is regu-
lated.
The La Follette-Lenrcot and the
Stanley bills to perfect the Sherman
law and the Nevlands-Cummi pro
posals for an Interstate trade commits
sion are all directed in part to that
end. The remaining wastes OF compe-
tition may be likeDed to the wastes OF
democracy. These are obvious. but we
know also that democracy has COM
pensations which render It more en-
cient than absolutisn. So It is in in-
oustry. The margin between what
men naturally do and what they can
do is 30 great that the system which
urges men on to effort is the best sys-
TEN.
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. II could prevent IN
Just discrimination. II could prevent
ruthless and unfair use Of power; but
| a government commission would be
| powerless to secure for the people the
low prices commonly attendant upon
| competition.
As 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
paralyze individual enterprise and pro
ducs unprogressive, slipshod manage
| ment The attempt to secure loo
| prices through price frtEg tOoEId
| prove as tnspoteHt os the statutes
! tohich haze sought TO protect the pub
lie in railroad rates BY limiting the
| dividends.
The interstate commerce commits
sion has been invoked as an argument
IN favor OF licensing monopoly. That
commission has stopped many abuses;
It has practically put an end 20 cor
rupt and corrupting discrimination in
rates; Il has protected the shipper
from oppression and arrogance and IN
| Justice; It has prevented unreasonable
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. II has been
posceTfess TO reduce operating costs,
asd 5reoter reductions IN rates odn
| come only tcith 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
the stoespfn0 reductions In Americas
oper1ttao costs AVID rates belong to the
eorIier 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
1s99-1sO0 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 rae. In
each OF the eleven succeeding years It
was higher than in 1899. and In 1910
| Il was .753.
The deadening effect OF monopoly
Is illustrated by its arrest Of inven-
ton. The shoe machinery trust, form
ed in 1899, resulted in combining, d.
rectiy and indirectly. more than 100
shoe machinery concerns. It acquired
substantially monopoly Of all the es-
sentiaI machinery used IN bottorning
boots and shoes. as well as many 9TH
CT machines. II believed itself unas-
sailabls. and shoe manufacturers had
come to regard their subsection 70 the
trust as unavoidable. Nevertheless, In
1910 the trust found its prestige sud
,deply Threatened and fits huge proats
iapersied.s IL was confronted with q
competitor 90 formidable that sthe
trust. in fragrant violation OF Law, paid
81. 0O0. 900 TO buy him out. Thomas @.
I plant haA arfs,alfv auecao5ed IN laval