Contemporary American History, 1877-1913Beard, Charles A. (Charles Austin)
History
Contemporary American History, 1877-1913
Beard, Charles A. (Charles Austin)
United States -- History -- 1865-1921
Nevertheless, while deploring the control of the government by "big
business," Mr. Wilson made no assault on that type of economic
enterprise as such. On the contrary, he differentiated between big
business and the trust very sharply in general terms. "A trust is an
arrangement to get rid of competition, and a big business is a business
that has survived competition by conquering in the field of
intelligence and economy. A trust does not bring efficiency to the aid
of business; it buys efficiency out of business. I am for big business
and I am against the trusts. Any man who can survive by his brains, any
man who can put the others out of the business by making the thing
cheaper to the consumer at the same time that he is increasing its
intrinsic value and quality, I take off my hat to, and I say: 'You are
the man who can build up the United States, and I wish there were more
of you.'" Whether any big business in the staple industries had been
built up by this process, he did not indicate; neither did he discuss
the question as to whether monopoly might not result from the
destruction of competitors as well as from the fusion of competitors
into a trust.
On this distinction between big business and trusts Mr. Wilson built up
his theory of governmental policy. The trust, he said, was not a product
of competition at all, but of the unwillingness of business men to meet
it--a distinction which some were inclined to regard as academic.
Because the formation of no great trusts had been unaccompanied by
unfair practices, Mr. Wilson seemed to hold that no such concern would
have been built up had unfair practices been prohibited. Obviously,
therefore, the problem is a simple one--dissolve the trusts and prevent
their being reestablished by prohibiting unfair practices and the arts
of high finance.
Indeed, such was Mr. Wilson's program. "Our purpose," he says, "is the
restoration of freedom. We purpose to prevent private monopoly by law,
to see to it that the methods by which monopolies have been built up
are made impossible." Mr. Wilson's central idea was to clear the field
for the restoration of competition as it existed in the early days of
mechanical industry. "American industry is not free, as it once was
free; American enterprise is not free; the man with only a little
capital is finding it harder to get into the field, more and more
impossible to compete with the big fellow. Why? Because the laws of this
country do not prevent the strong from crushing the weak."
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account