Ripley County democrat. (Doniphan, Mo.) 1905-1920, 1912-10-04

-AetiVeIy pisaerees" with his Views
About Trusts and "Hastes Of Com
petition" and Supports the csndi-
daey Of, Wilson and MarshaIL
Golfers is out for Wilson and Mar
shall. It refuses to support Theodore
Roosevelt, plus George W. Perkins,
Elbridge H. 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 In
coming down to two pressing issues.
the tariff and the proper treatment Of
monopolies. Golfers actively die
agrees with the view OF monopoly be-
ing urged by Messrs. Roosevelt, Per
kins and Gary.
They talk q 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 10 regu-
lated.
THE La Follstte-Lenroot and the
Stanley bills TO perfect the Sherman
law and the Newlands- Cummins pro-
posals for an interstate trade commits.
sion are ell directed In part to that
end. The remaining wastes OF compe.
tition may be hkened TO ths wastes of
democracy. These are obvious. but we
know also that democracy has com
pensations which render It moro en-
cient than absoiutism. 30 II Ia In In
dustry. The margin between Shat
men naturally do and what they can
do is 20 great that the system which
urges men on to effort-is the best sys-
tenn.
The necessary wastes Of monopoly,
on the other hand. are enormous. Some
of these can. Of course, be eliminated
by regulation. An eficieAt interstate
trade commission. acting under appro-
pirate legislation, could put an end to
much Of the oppression of which trusts
have been guilty. It could prevent un-
Just discrimination. Il could prevent
ruthless and unfair use Of power; but
q 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
create sense Of injustice suffered.
paralyze individual enterprise and pro-
duce unprogressive. slipshod manage
msnt TAe attewpt to secure loo
prsces throsoA price fvs.e could
prove a. smpoteAt az ne statates
soAtch Advs sought to protect the pub
10 IN roslroad rutss by limiting the
asvsdsads.
The interstate commerce commis-
sion has been invoked a. an argument
In favor Of licensing monopoly. That
commission has stopped many abuses;
It has practically pot an end to cor.
rapt and corrupting discrimination In
rates; II has protected che shipper
from oppression and arrogance and In
justicel II has prevented unreasonable
advasces In rates; but II has secured
comparatively few notable rvdactsons
In rates. except those involved in
stopping discrimination between per-
sons. places or articles. ~ Nds been
pososrIsss to reduce operetiag costs,
asd ereotsT reductions N Fsfes can
come only scsth redactto.s IN the cost
Of producing transportation. The In
Justice and corruption attending the
I SaAAANt A4AAso@4 tettoA NS4S eAhumSty
serious. But We must not forget that
the spsepia0 rsdsctioas In Amsrica.
operossn0 costs and rates esIowC 10 the
eoritsr pertot Of competition s~oao
ratifoods. In the ten. years from 1889
TO 1889, while composition among the
railroads was active. the freight rate
per ton per mile was gradually 70
duced from .ett 10 .f24. The years
isge1soo marked the great movement
for combination or community Of 10.
terest" In the railroad world a. xsll
as In the Industrial world. rae frsioAt
rafs per ton per mile bepe. 20 rise. In
each Of the eleven succssdins ysars It
was higher than In 1899. and IN 1910
q was .7bs.
'Ths deadening eject of monopoly
h Illustrated By its arrest Of invsn-
ton. The shoe machinery trust form.
cd In 1889, resulted In combinin. a.
rectiy and indirectly. more than 100
shoe machinery concerns. n acquired
ezAsfaasiafiy a monopoly of All the q.