Tom Watson's Magazine, Vol. I, No. 4, June 1905Various
General
Tom Watson's Magazine, Vol. I, No. 4, June 1905
Various
United States -- Politics and government -- Periodicals
That the trusts avail themselves of all possible economies in production
has often been urged in their defense. Certainly such economies are
not needed to secure a monopoly in possession, nor does it seem that
the greatest incentives to their adoption are present. The sacrifice
of inventions rather than their use by these great monopolies is proof
that they do much to prevent such economies. A monopoly can be induced
to accept only with difficulty improved devices which under the spur of
competition it would gladly avail itself of. Thus in the Post-Office,
which is a monopoly, though a Government monopoly, improvements are
introduced only with the greatest difficulty.
If combination can of itself effect monopoly, why are huge sums set
aside by these great corporations to influence legislation? Why are
contributions made to the campaign funds of the two great parties? Is
it not because these combinations seek to perpetuate their monopolistic
privileges? It may be said that it is contributed to effect the defeat
of “strike bills.” But what would a business partnership, not in some
way dependent upon previously existing legislation, care about “strike
bills”? Why does the American Sugar Refining Company (according to the
testimony of Mr. Havemeyer) contribute in some states to the Republican
campaign fund, and in other states to the Democratic campaign fund?
As an example of the kind of defense urged by the trust apologists here
is a work entitled, “The Trust; Its Book,” containing articles from
the pens of Charles R. Flint, James J. Hill, S. C. T. Dodd, Francis B.
Thurber, and others. It is a plea of “confession and avoidance.” The
authors fight shy of even the hated term monopoly, and content themselves
with defending the right of combination. Not one of them appears to
think that the popular outcry against trusts is founded on anything but
utter ignorance; and they therefore devote themselves to showing the
advantages of large scale production—as if that were the question. All
this seems purely disingenuous. It is hardly conceivable that men who
know so well the effects of monopoly, who know how potent has been the
use by combination of existing laws securing the possession of special
privileges, should write this way from any other motive than to becloud
the issue. We can acquit them of intentional deception far less readily
than the professors of political economy. The latter may be at once
exonerated, since it is incredible that men who have become involved in
the self-created subtleties of modern economics should retain sufficient
clearness of comprehension to see anything in its proper relation.
If it be true that there are no monopolies save law-created monopolies,
it only remains for the state to undo the work it has done. The means by
which the state, consciously or unconsciously, has fostered monopolies
may be removed, and a new, and up to this time untried, method for
remedying the evils of trusts be set in motion.
Public-domain text, read in full here on John Shaqi.
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