Standard Oil Company; Trusts, Industrial -- United States
It is true that such a list, like a dictionary, would begin to be
wrong the moment it began to appear. But though only an instantaneous
photograph of the whirlwind, it would give an idea, to be gained
in no other way, of a movement shadowing two hemispheres. In an
incredible number of the necessaries and luxuries of life, from meat
to tombstones, some inner circle of the "fittest" has sought, and very
often obtained, the sweet power which Judge Barrett found the sugar
trust had: It "can close every refinery at will, close some and open
others, limit the purchases of raw material (thus jeopardizing, and in
a considerable degree controlling, its production), artificially limit
the production of refined sugar, enhance the price to enrich themselves
and their associates at the public expense, and depress the price when
necessary to crush out and impoverish a foolhardy rival."
Corners are "acute" attacks of that which combinations exhibit as
chronic. First a corner, then a pool, then a trust, has often been
the genesis. The last stage, when the trust throws off the forms of
combination and returns to the simpler dress of corporations, is
already well along. Some of the "sympathetical co-operations" on record
have no doubt ceased to exist. But that they should have been attempted
is one of the signs of the time, and these attempts are repeated again
and again until success is reached.
The line of development is from local to national, and from national
to international. The amount of capital changes continually with the
recrystallizations in progress. Not less than five hundred million
dollars is in the coal combination, which our evidence shows to have
flourished twenty-two years; that in oil has nearly if not quite two
hundred millions; and the other combinations in which its members are
leaders foot up hundreds of millions more. Hundreds of millions of
dollars are united in the railroads and elevators of the Northwest
against the wheat-growers. In cattle and meat there are not less than
one hundred millions; in whiskey, thirty-five millions; and in beer
a great deal more than that; in sugar, seventy-five millions; in
leather, over a hundred millions; in gas, hundreds of millions. At
this writing a union is being negotiated of all the piano-makers in
the United States, to have a capital of fifty millions. Quite beyond
ordinary comprehension is the magnitude of the syndicates, if there is
more than one, which are going from city to city, consolidating all
the gas-works, electric-lighting companies, street-railways in each
into single properties, and consolidating these into vast estates for
central corporations of capitalists, controlling from metropolitan
offices the transportation of the people of scores of cities. Such
a syndicate negotiating in December, 1892, for the control of the
street-railways of Brooklyn, was said by the New York _Times_, "on
absolute authority, to have subscribed $23,000,000 towards that end,
Public-domain text, read in full here on John Shaqi.
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