Norwich bulletin., 1913-11-18
PROF. 5oLLES SCORES
 DEMOCRATIC TRUST PLAN Former Editor of Bulletin Declares 1t 2 Step Backward and Unscientific.

In an interview given to a repre- sentative of the Philadelphia Press, Prof Albert S. Bolles, of Haverford college, noted economist, and formerly editor of the Norwich Bulletin, wig orouSly arraigned the anti trust pro- gram of the democrats as it has been drawn up by representatives of the administration. Prof. Bolles charac- terized the program of return to com petition as a step backward and de- ciared that the proposals of the dem ocrats are utterly unscientific and showed their total ignorance of the industrial problems of today.
 Dr. Bolles spoke as follows:
 The administration has evolved a mode of dealing with the trusts, and the measures, the outlines of which have been given to the press, have a common end-to overthrow that dire monster. monopoly. and to resort to the id-fashioned, brother loving sys- tenn of competition. Assuming that the administration can succeed in over throwing the monster. what will be the blessed fruits?
 With respect to some matters of this sort not much wisdom can be gained by any amount of speculation for however laborioue the effort. one ends just where he began; for example the amount of the last crop of corn raised on the planet Mars, or at what period during the procession of the
 
 land be warm enough for the raising of pfneapp1es?
 we are, however, left with no un- certain results in attempting to ascer- tain the probable effects of returning to competition, for if we have learned anything, we have learned from past experience what the effects of renew ing unrestricted competition will be-
 Effect of Free Competition.
 "One way of briefly showing them is to describe the state of things that gave rise to the creation of the trust organizations. In a word, it was ex- cessiVe competition among manufac- turers. For years the sugar refiners. the Iron. woolen, cotton and other man ufacturers. had millions invested in their business, were debtors to bank CTS for many millions more, and from profits, in many cases none. in other cases incurred loss, and bankruptcy lined the industrial shore.
 Well, one says, the consumer then had his good times; now, he is cursed by high prices. But with the cessation of profits followed low wages; with bankruptcy the closing of mills and no work for employees Low as the prices of the necessarIes of life were the un- employed workfngman was far worse on than the workfngman today, who pays the higher prices. Capital was destroyed, the banks lost large sums through borrowers who were unable to pay
 If the consumer profited, in many a case it was at the expense of the bank, which furnished the money to the manufacturer or to the merchant who sold his goods below the purchase price. or the cost of production. If the consumer gained through lower prices he lost through lower wages or none at all. It would seem that, if 1t were possible to learn anything, it is that 2 return to unrestricted competitor to which the administration proposes to devote it's power, Is 3 movement back ward morally and economically.
 Urges Regulation.
 ITO say this, however ds not to say that the present trust methods are desirabls and should be continued. Is there no other alternative than l1nre- stricted competition and unrestricted monopoly7 We think there is, Both have bean trisd and found wanting; now, lot us try something else. Reg ulate the trust methods. Congress ought to set its face to the task with the best assistance it can obtain pa