This concentration of coal lands and coal mining in the hands of great
corporations, aside from its tendency to stifle healthy competition,
is productive of many benefits. Coal can be mined much cheaper when
the mining is done on a large scale. This is the rule, indeed, in
all productive industries. An enterprise backed by the combined
capital of many individuals is more certain to become successful and
permanent than an enterprise inaugurated by, and carried on with,
the entire capital of a single individual. Especially is this the
rule in a business attended with as much risk as is the business of
coal mining. One person may put his entire fortune of two or three
hundred thousand dollars into a single colliery. A depression in
the coal trade, a strike among the miners, an explosion, or a fire
would be very apt to bring financial ruin on him. A company, with its
great resources and its elastic character, can meet and recover from
an adverse incident of this kind with scarcely a perceptible shock
to its business. It is simply one of the items of loss which it is
prepared to cover with a larger item of profit. There is also the
additional assurance that all work that is done will be well done. The
most careful observations and calculations are made of the amount and
quality of included coal in any tract of land before it is purchased,
and the best surveyors are employed to mark out the boundary lines of
lands. The services of the most skillful mining engineers are retained,
at salaries which no individual operator could afford to pay. Their
forces are well organized, their mining operations are conducted with
system and economy, and they are able to keep abreast of the age in
all inventions and appliances that insure greater facility in mining
and manufacturing, and greater safety to the workmen. Their employees
are paid promptly at stated periods, and the possibility of a workman
losing his wages by reason of neglect or failure on the part of his
employer is reduced to a minimum.
In general, it may be said that the control of the anthracite coal
business by the great corporations, rather than by individual operators,
is an undoubted benefit, not only to all the parties in direct interest,
but to commerce and society as a whole. The only danger to be feared is
from an abuse of the great powers to which these companies have
attained; a danger which, thus far, has not seriously menaced the
community.
CHAPTER VII.
THE WAY INTO THE MINES.
Public-domain text, read in full here on John Shaqi.
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