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Trusts

Trusts image
Parent Issue
Day
8
Month
March
Year
1888
Copyright
Public Domain
OCR Text

The rapid growth of trusts is the latest phase of industrial life. They are ausuming enormous proportions ; threaten to become international in their operation, and to control the market for all the necessaries of life. It is reported that the bankers, the Rothschilds, are about to give up their business of loaning money to governments and instead invest in " trusts." Jay Gould is thought to be contemplating vast enterprises of this kind. A watch trust has been organized recently which is oppressive in ite operations. There are trusts which control sngar, kerosene oil, cotton-seed oil, oat-meal, staren, white corn-meal, straw paper, pearled barley, coal, straw board, castor-oil, linseed oil, lard, school slate, oil-cloth, Balt, cattle, gas, streetrailwaye, whisky, rubber, steel, steel rails, steel and iron beatns, nails, wrought-iron pipes, iron nuts, stoves, lead, copper, envelopes, paper bags, paving pitch, cordage, coke, reaping and binding machines, ploughs, glass, and water-works. Prof. Richard T. Ely, of Johns Hopkins, wrote in 1886: "The anthracite coal combination of Pennsylvania, one of the most remarkable monopolies in the United .States, comprises eix railways, -vrhich own 195,000 acres of anthracite coal land out of a total of 270,000 acres." L. K. Strouse & Co., of New York city, have published a small work on Trusts, which was written by William "W. Cook, of the New York bar. It deals with all phaees of trusts. The author says : " A ' Trust' is a combination of many competing concerns under one management, which thereby reduces the cost, regulates the amount of production, and creases the pnce for which the article is sold. It is either a monopoly or an endeavor to establisb. a monopoly. lts purpose is to make largerprofits by decreasing cost, limiting jiroduction, and increasing the price to the consumen This it accomplishes by presenting to competitors the alternative of joining the ' Trust' or being crushed out. lts organization is intricate, secret, and subtle. It is a masterpiece of modern ingenuity and fertility of resource. It is a product of the highest order of business talent and executive ability. It is at once a monument to American genius and a symbol of American rapacity." This authorthinks that" Trusts" will eventually go down, as the monopolies of the time of Queen Elizabeth and the Stuarts did. The courte have repeatedly declared them to be opposed to good public policy. It will be a hard struggle, but it must be done, and it presents a great question to the practical legjslator. On the second page will be found a report of the opening given by Welch post, G. A. B,., last week, and a report of the pomological meeting. On other pages will be found abstracts of the new tariff and internal revenue bilis, a daily record of the work of congress, political pointers from all parts of the country, and a large amount of miscellany.

Article

Subjects
Old News
Ann Arbor Register