The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1923-02-08
THE NATIONAL CAPITAL
BY j. l.. n

Federal administration. And while
this lis going on Charles NJ. Schwab,
the political spokesman of the steel
interests, has been sounding out pub
lie sentiment with reference to bunch
ing" or combining other great business
interests. The greatest economy that
can come to this country is doing bust
ness or banking on the largest pos
sible scale he is reported to have said.
He observes that the greatest indus
trial establishments of the country
are founded on the ability and i'll
tegrity of those who manage them
and for that reason he would like to
II company, and the banks combined
to an extent that would make it pos
sible for them to loan to the steel
merger all the money that it would
want. He does not worry about the
rest of the country, but he does say
that "all the money of the United
States Government will not be enough
to support the industry Of the country
in the future 1t is reasonable to as
sumo that Mr.. Schwab is thinking of
the time when his theories of putting
all employment and financing III the
hands of a few shall have been car
ried out.
1t is likely that ideas by capitalists
and captains of industry in favor >of
merging financial and industrial in
stitutiOns will eve become generally
popular. Everyone knows that So
called big business" has been infring-
ing on the little fellow" and crowd
ing him out during these many years;
but the popular clamor has continued
it's protests against mergers and trusts
until the National and State govern
ments have set up elaborate machinery
for the express purpose of "regulat-
ing business" Unfair competition,
false advertising, watered stock, and
countless other popular evils, are now
regulated and attempts made to keep
even the big unS within the law. But
while capital is being frowned upon
for their attempts to gather in all the
sheaves, the clear trend towards com
binatiOns in every phase of life is in
evidence. Government credit is being
placed behind the farming interests of
the country, and everyone says it is
right. The question of placing ire
mendous credits of the government
behind private operators of ships has
the support of the political party in
power in the country. Millions of IN
iOnized laboring men, especially those
employed on the railroads Of the Coun.
try, have the official endorsement and
support of the United States Govern
ment. And still the combinations Of
interests go on and on, until it is not
strange that a few capitalists see in
this trend of the times their excuse
for forming a Jackpot Of assets in the
banks Of the country to be utilized in
the merging of big industrial interests.
Farmers and the rest of the country
seem agreed hat one Of the great diff
ficulties in the basic industry Of ag-
riculture is the inability of the produc-
er to fix the prices Of his products.
Several years e there was a ire
mendOus onslaught against the grain
and stock exchanges, and the com
plants still continue. Just at present
the agitation is at low ebb, and there
is some satisfaction felt over the leg
islative methods that have been pro
vided to curb and control the eX-
n-A -.,l 49, Shat
is being sought seems to have crys,
talized in the cooperative movement.
The Department Of Agriculture is put
ting all Of its strength back of the
agents are working with the idea in
every part Of the land. In a statement
issued a few days ago the Department
says that it has evidence that the ire
mendous impetus given cooperative ag-
ricultural marketing in the United
States in recent months is a part of
a worldwide movement, springing
from a desire for a better agriculture.
Representatives of the department
sent abroad to study conditions are re
spOnsible for those reports. Denmark
is the ideal Of the cooperative cham
pions, and from Denmark come tales
Of wonderful achievements in Sound,
economic organization" and a~stoniSh-
ing results for the farmers running
over a period OF forty years. Finland,
southern Germany. Czechoslavakia,
Switzerland-and even Ireland, have,
it is claimed, proved beyond all ques-
ton, the ability of farmers to market
their grains and produce comparatively.
And this, W. infer, produces a situation
among them that overturns the eX-
changes in debating and fixing all
prices, and enables the producer to
do it for himself to a very large ex-
tent. And thousands Of farmers claim
that is the principal thing that they
must have in order to succeed.
| In New York State, and particularly
in New York City, there has been a
good deal Of agitation directed against