Standard Oil Company; Trusts, Industrial -- United States
Columbus was so local that its people were sufficient unto themselves.
All they had to do was to keep on saying, We will not buy. But Toledo
was a citizen of the great world of affairs and finance. It was part
of London, New York, Chicago. Much of it was owned as an investment
elsewhere. Sensitive nerves connected it with all the markets,
especially the greatest of all--the money-market. It sold and bought
and borrowed and lent far beyond its own border. What Wall Street
gossips said about the people of Columbus would not make a dollar's
difference to the whole town in a year, but a whisper started through
the offices of the great capitalists in New York and abroad would
flash back by wire to Toledo, and go like a quick poison through its
industries and credit, private and public.
"Private enterprise" could not afford to let the people of Toledo go
forward with their public enterprise. Many millions had been invested
in getting control of a business representing $200,000,000. Many
towns and cities, as Fostoria, Sandusky, Fremont, Clyde, Bellevue,
Norwalk, Perrysburgh, Tiffin, and Detroit, were being supplied with
gas at a handsome profit. If Toledo should set a successful example
of self-supply, it would find imitators on every side. The essence of
"private enterprise" was that the people should get their gas from
Captains of Industry, and pay them for their captaincy two or three
times the real cost as profit, just as monarchical countries pay kings
for kindly supplying the people with the government which really comes
from the people. The essence of municipal supply was that the people
should supply themselves at cost without profit, and without Captains
of Industry, except as the people provided them. Toledo, in fine,
proposed to keep step with the modern expansion of self-government,
which finds that it can apply principles and methods of democracy
to industry. It proposed to add another to many demonstrations
already made, noticeably in this very department of gas supply to
municipalities, of the truth that the ability to carry on the business
of supplying the various wants of mankind is not a sort of divine right
vouchsafed from on high to a few specially inspired and gifted priests
of commerce, by whose intermediation alone can the mysteries of trade
be operated; but, like the ability to govern and be governed, is one
of the faculties common to mankind, capable of being administered of,
by, and for the people, and not needing to be differentiated as the
prerogative of one set of men. The Toledo experiment was another step
forward in the world-wide movement for the abolition of millionaires--a
movement upon which the millionaires look with unconcealed apprehension
for the welfare of their fellow-beings.
Public-domain text, read in full here on John Shaqi.
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