History for ready reference, Volume 7 : $b Recent history (1901 to 1910)Larned, J. N. (Josephus Nelson)
History
History for ready reference, Volume 7 : $b Recent history (1901 to 1910)
Larned, J. N. (Josephus Nelson)
History -- Dictionaries
"‘For the purpose of the Census, the rule has been adopted to
consider no aggregation of mills an industrial combination,
unless it consists of a number of formerly independent mills
which have been brought together into one company under a
charter obtained for that purpose. We therefore exclude from
this category many large establishments comprising a number of
mills, which have grown up, not by combination with other
mills, but by the erection of new plants or the purchase of
old ones.’ …
"So far as can be ascertained from the data in the Census
Office, the number of these industrial consolidations is 183.
They control 2203 separate plants, scattered throughout the
United States, 2029 being active and 174 idle during the
census year. For 56 of the idle plants no returns could be
obtained, making the total number of reporting plants 2147.
The 183 combinations extend to almost all lines of industry,
producing articles of luxury, materials essential to the
upbuilding and growth of the country, and even the very
necessities of life. Fully 50 per cent. of these combinations
were chartered just prior to or during the census year; and it
is noteworthy that the epidemic of industrial consolidation,
as far as the so-called monopolies are concerned, has been
practically confined to the past four years. It is evident,
therefore, that the disease—if it be regarded as such—has
spread very rapidly.
"Naturally enough, iron and steel, with 69 combinations, heads
the list. The number of reporting plants engaged in this
industry is 469, and the capital invested, consisting of land,
buildings, machinery, tools and implements, and cash and
sundries, is valued at $348,000,000."
_W. R. Merriam,
"Trusts" in the Light of Census Returns
(Atlantic Monthly, March, 1902)._
COMBINATIONS: A. D. 1901-1903.
The question of Federal Control and Regulation.
Urgency of President Roosevelt for effective legislation.
In his first Message to Congress, three months after his
succession to the Presidency, President Roosevelt expressed
his mind frankly and clearly on the then increasing demand in
the country for more stringent measures of government, to
control and regulate the exercise of the power which great
aggregations of incorporated capital have created in recent
times. In part, he then said:
Public-domain text, read in full here on John Shaqi.
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