Standard Oil Company; Trusts, Industrial -- United States
"Such a vast combination is a menace to the public," said the court.
"It is no answer to say that this monopoly has, in fact, reduced the
price of friction-matches. That policy may have been necessary to
crush competition. The fact exists that it rests in the discretion of
this company at any time to raise the price to an exorbitant degree."
"Indeed, it is doubtful if free government can long exist in a country
where such enormous amounts of money are allowed to be accumulated in
the vaults of corporations, to be used at discretion in controlling the
property and business of the country against the interest of the public
and that of the people, for the personal gain and aggrandizement of a
few individuals."
Within the last thirty years, 95 per cent. of the anthracite coal of
America--practically the entire supply, it was reported by Congress in
1893--has passed from the ownership of private citizens, many thousands
in number, into the possession of the railroads controlling the
highways of the coal-fields.
These railroads have been undergoing a similar process of
consolidation, and are now the property of eight great corporations.
This surrender of their property by the individual coal-mine owners is
a continuing process, in operation at this moment, for the complete
extinction of the "individual" and the independents in this field. It
is destined, according to the report of Congress of 1893,[6] to end
"in the entire absorption ... of the entire anthracite coal-fields and
collieries by ... the common carriers."
Anthracite coal is geographically a natural monopoly contained in three
contiguous fields which, if laid close together, would not cover more
than eight miles by sixty. But bituminous coal, although scattered
in exhaustless measures all over the continent, is being similarly
appropriated by the railroads, and its area is being similarly limited
artificially by their interference.
"Railroad syndicates," says the investigation of 1888,[7] "are buying
all the best bituminous coal lands along their lines in Missouri,
Kansas, Colorado, Arkansas, Tennessee, Alabama, and other Western
States and Territories, no doubt with a view of levying tribute upon
the people's fuel and the industrial fires of the country."
Canada remains unannexed politically, but its best coal deposits
have become a part of the United States. In 1892 a syndicate of
American capitalists obtained the control of the principal bituminous
coal-mines of Nova Scotia. Among them were men connected both with the
anthracite pool and with the combination which seeks control of the oil
market of Canada and of the United States.
Public-domain text, read in full here on John Shaqi.
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