The Mankato free press., 1919-08-15
TRuSTScRoW IN BRITAIN
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would occupy very different posi-
ton.
There is no doubt (although it is
not stated in this report) that great
administrative encouragement has
been given to the idea of combina-
ton. The Board of Trade Commit
tee, consisting of large capitalists,
appointed to advise the government
on commercial and industrial policy
after the war, strongly recommended
the formation of combinations of
manufacturers for the purpose of Sc
curing supplies of raw materials,
production and marketing. They held
that there should be no gov
ernment interferences Nith such
combinations and that the law re-
garding restraint of trade should
be modified. They considered that
the antagonistic attitude of the pub
lie (Which they ADMITTEDLY towards the
principle of combination should be
modified.
The committee of trusts does not
agree with that view. 1t processes
itself unable to share the optimism
of those who believe that the opera
tions of association never lead to ex-
cessive prices or the detriment of the
public And for the illumination and
warning of those optimists it gives
a lengthy summary of the working
of the American meat trust taken
from the report of the federal trade
commission in the summer of 1918.
Give Fullest Publicity.
1t considers that the fullest in
formation as to the activities of
trade associations should be available
to the public. 1t recommends that it
should be the duty of department of
state to obtain all such information
and present annual reports to parlia-
ment and that, in addition, special
tribunal should be established with
special powers to order Information
to be produced or to make a full ju
dicial investigation whenever a case
is referred to it by the board of trade
for that purpose.
There is an interesting addendum
to the report signed by four Of the
more radical members of the commit
tee, including ]. A. Hobson and Sid
ney Webb. They recognize that the
era Of free competition in the busi-
ness world is over and regard the
evolution away from competitive ri
valry towards combination as "both
inevitable and desirable" For this
reason they consider that nothing
should be done to obstruct capitalist
combinations, such interference new
er having proved effective in any
case. But they hold strongly that
steps should be taken to safeguard
the -mmunity from the evils OF
"a. ly ard secure for it share
lits resulting from the
pe, usanization Of Industry =
The Principal Remedy.
The principal remedy suggested Is
the co,dtfol Of prices by the state
In some cases it is suggested that
state ownership is the only safeguard
againt monopoly. Mention is made
also of the great value Of such ri
val as the cooperative movement
which will never enter into any com
bination but which serves only. the
public interest.
Combination is taking place over a
whole field not dealt with in the re-
port of the committee on trusts
luGTS dh SyotChi VI III
terlocking direc:oratcs and shares
held by one company in another. The
great shipping companies are now
linked up with very large number
Of undertakings so that the Who'll
machine could be set in motion al
once.
Further, number of huge asso-
Citations of manufacturers and en-
ployers have been formed. The most
important of these is the Federation
of British industries formed two
years ago. This is intended to pro-
tect capitalist interests in all indus
tries. 1t represents capital of $20,.
nO0,OO0.000 and is said to have 121
members in the present houge OF
commons This latter fact makes il
appear unlikely that any drastic az.
tion toward combination, however
monopolistic, will be taken by this
parliament.