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Page 7
A monopoly is the sole power of dealing in any class of goods.
If there were no Trusts controlling the market, no one manufacturer would
dare to put his price too high, because another one would instantly step
in with lower prices, and take his trade away from him.
This would create what is called competition, because the first
manufacturer would not want to lose his trade, and would lower his prices
below the second manufacturer. Others would join in, and would continue to
cut prices, until the selling price of the article would be brought down
to the lowest possible rate at which it can be put on the market.
The public would get the benefit of this competition, and would find the
cost of living less.
This competition is the soul of business, because it obliges manufacturers
to better the quality of their goods and machinery in order to sell at
all; but Trusts do not care to do this, and therefore desire to put a stop
to it entirely.
Each Trust has its system of controlling the store-keepers who deal
directly with the public, and it makes them agree to sell at such prices
as it thinks best.
In this way the prices are kept up, no matter how much they ought to have
been lowered through cheap manufacture, or plentiful supply of the
material needed to be manufactured.
The money that is made by the cheaper conditions goes into the pockets of
the members of the Trust, and they often become enormously rich, through
the higher price which they thus force the people to pay.
All the necessary articles of food in daily use are controlled by Trusts.
There is a Sugar Trust, which dictates the exact number of cents a pound
you must pay for your sugar. A Coffee Trust, which fixes the price of
coffee. It is the Coal Trust which keeps the price of coal so high in
winter. There is a Gas Trust, a Salt Trust, a Wall-Paper Trust, and indeed
a Trust for almost every necessary and useful article.
You notice probably that the most of the Trusts are producers of articles
that we are obliged to use.
If the Coal Barons, as they are called, asked ten dollars a ton for coal,
we would still be obliged to use it. We could not go without fires.
If a Meat Trust said our meat was to cost a dollar a pound, we would still
have to buy it. Our sugar is another article which we cannot do without,
and for which we are obliged to pay whatever price the dealers choose to
ask.
Do you see now wherein Trusts are dangerous to us?
The Democrats last fall declared that if their candidate was elected
President of the United States, they would make laws whereby the
Government should be able to control and regulate Trusts.
The Legislature in Albany, wishing to prevent these combinations from
gaining so much power that they become a menace to the public, has
appointed a committee to investigate the workings of Trusts.
State Senator Lexow was made Chairman of the committee. He is that Mr.
Clarence Lexow, who was chairman of the committee which looked into the
way the police were doing their duty a short while ago.
Senator Lexow has come down to New York City with full power to call the
officers of the Trusts before him, and make them tell him how they manage
their business, how much money it costs them to produce the articles they
manufacture, and how much profit they make.
When the inquiry is finished, the committee will report to the Legislature
at Albany, which will then decide what action shall be taken.
The Trust Investigating Committee has found out from the Sugar Trust, that
the price of sugar has been lowered since the Trust was formed. But it has
also been learned that sugar has not been allowed to fall in price as much
as it ought to have, and that while sugar is cheaper than it used to be,
it could be much cheaper yet, and still pay well for the making.
With all the Trusts the story is the same. They have slightly cheapened
the price of the goods they handle, and have then controlled the market
and prevented any further reduction.
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