Produced by Audrey Longhurst, LN Yaddanapudi and the Online Distributed Proofreading Team at https://www.pgdp.net MONOPOLIES AND THE PEOPLE BY CHARLES WHITING BAKER, C. E. ASSOCIATE EDITOR OF "THE ENGINEERING NEWS" NEW YORK & LONDON G. P. PUTNAM'S SONS The Knickerbocker Press 1889 COPYRIGHT BY G. P. PUTNAM'S SONS 1889 The Knickerbocker Press Electrotyped and Printed by G. P. Putnam's Sons TO ALL THOSE WHO LOVE TRUTH AND JUSTICE AND EQUITY, WHO VALUE OUR HERITAGE OF LIBERTY AND PEACEFUL FRATERNITY, AND WHO ARE WILLING TO UNITE IN UPHOLDING AND DEFENDING THE COMMONWEALTH--THAT PRESERVER AND PROTECTOR OF THE RIGHTS OF THE WHOLE PEOPLE--THE AUTHOR DEDICATES THIS WORK. PREFACE. In the following pages it has been my endeavor to present, first, the results of a careful and impartial investigation into the present and prospective status of the monopolies in every industry; and, second, to discuss in all fairness the questions in regard to these monopolies--their cause, growth, future prospects, evils, and remedies--which every thinking man is to-day asking. The first part of this task, the presentation of facts with regard to existing monopolies, may seem to the well informed reader to be imperfectly done, because of the host of powerful and important monopolies of every sort that are not so much as mentioned. But I have deemed it most important that the broad facts concerning monopolies should be widely known; and I have, therefore, aimed to present these facts in a readable and concise way, although, in so doing, only a few of the important monopolies in each industry could be even mentioned. It is to be hoped that no one will underrate the importance of the problem of monopoly, or question the conclusions which I have reached, because of these omissions. To any such readers who may not be satisfied from the facts hereafter given that monopolies are the salient feature of our present industrial situation, and, moreover, that they have come to stay, I would recommend a careful perusal of the financial and trade journals for a few months. Wherever possible I have presented actual statistics bearing on the question at issue; but as regards trusts, monopolies in trade, mining, labor, and in fact nearly all monopolies, there are no statistics to be had. Nor can any be obtained, for it would be absurd for the government to collect statistics of the operation of that which it pronounces illegal but makes no effort to punish.