The truth about socialismBenson, Allan L. (Allan Louis)
General
The truth about socialism
Benson, Allan L. (Allan Louis)
Socialism
Indeed, there were. The people went into one of them. Or, rather, they
remained in the blind alley in which they had long been. That was the
blind alley of private ownership of the coal mines and railroads. Plenty
of blind men could see a delightful opening at the end of this blind
alley. They were very sure that it led somewhere. It must lead
somewhere. Certainly, no great difficulty could be encountered in
managing these millionaires. The Inter-State Commerce Commission would
fix them if nothing else could fix them. If the Inter-State Commerce
Commission should prove too weak for the task, the courts would not
prove too weak. At any rate, there was no danger ahead. It was entirely
safe to leave the nation’s coal supply in the hands of a few men who had
already abundantly proved their disinclination to treat either their
employees or the public honestly.
For ten straight years thereafter we fought the Coal Trust in the
courts. We enjoined it, we indicted it, we prosecuted it. To what
purpose? To no purpose. In 1912, the United States Supreme Court brought
an end to the proceedings by handing down a decision that was said to be
a “great victory” for the Government. But it was one of those great
anti-trust victories that do not hurt the trusts nor help the people.
This “victory” did not hurt the Coal Trust. The price of coal did not go
down a nickel. On the contrary, the prices of coal road stocks
immediately went higher. Wall Street knew the decision would not
interrupt the Coal Trust in its plundering, and backed its opinion with
its money. Wall Street quickly realized what we have not yet fully
realized—that the court had prohibited only a certain method of
stealing, while leaving the trust free to adopt any one of a hundred
other methods, each of which is as suitable to its purposes as the
method that has been put under the ban.
Public-domain text, read in full here on John Shaqi.
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