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Monopolies and the People by Baker, Charles Whiting

Monopolies and the People by Baker, Charles Whiting

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MONOPOLIES AND THE PEOPLE
BY
CHARLES WHITING BAKER, C. E.
ASSOCIATE EDITOR OF "THE ENGINEERING NEWS"

NEW YORK & LONDON
G. P. PUTNAM'S SONS
The Knickerbocker Press
1889

[ii]

COPYRIGHT BY
G. P. PUTNAM'S SONS
1889

The Knickerbocker Press
Electrotyped and Printed by
G. P. Putnam's Sons

[iii]

to all those who love truth and justice and equity, who
value our heritage of liberty and peaceful fraternity,
and who are willing to unite in upholding
and defending THE COMMONWEALTH\u2014that
preserver and protector of the rights
of the whole people\ue000the author
dedicates this work.

[v]
PREFACE.

In the following pages it has been my endeavor to present, first, the results of a careful and impartial
investigation into the present and prospective status of the monopolies in every industry; and, second, to
discuss in all fairness the questions in regard to these monopolies\ue001their cause, growth, future prospects,
evils, and remedies\ue002which every thinking man is to-day asking.

The first part of this task, the presentation of facts with regard to existing monopolies, may seem to the well
informed reader to be imperfectly done, because of the host of powerful and important monopolies of every
sort that are not so much as mentioned. But I have deemed it most important that the broad facts concerning
monopolies should be widely known; and I have, therefore, aimed to present these facts in a readable and
concise way, although, in so doing, only a few of the important monopolies in each industry could be even
mentioned. It is to be hoped that no one will underrate the importance of the problem of monopoly, or
question the conclusions which I have reached, because of these[vi] omissions. To any such readers who may
not be satisfied from the facts hereafter given that monopolies are the salient feature of our present industrial

MONOPOLIES AND THE PEOPLE BY CHARLES WHITING BAKER, C. E. ASSOCIATE EDITOR OF "THE E
1
situation, and, moreover, that they have come to stay, I would recommend a careful perusal of the financial
and trade journals for a few months.

Wherever possible I have presented actual statistics bearing on the question at issue; but as regards trusts,
monopolies in trade, mining, labor, and in fact nearly all monopolies, there are no statistics to be had. Nor can
any be obtained, for it would be absurd for the government to collect statistics of the operation of that which it
pronounces illegal but makes no effort to punish.

It may increase the respect of some readers for the conclusions I have reached, to know that it was a practical
acquaintance with monopolies rather than any study of economic theories which led me to undertake the
present work; that, at the time I undertook it, I was wholly undecided as to the proper remedies for
monopolies, and was quite willing to believe, if the facts had proved it to me, that they were destined to work
their own cure; and that the rapid growth and increase of monopolies in very many industries, in the few
months since these chapters were written, have furnished fresh evidence that my conclusions have not been
amiss.

Finally, I wish to place all emphasis on the fact that all the great movements toward genuine reform must go
hand in hand. The cause of the people is one cause, and[vii] those who work for honest officers in our
government, pure elections, the suppression of crime and pauperism, the mental and moral elevation of men
and women, are striking harder blows at monopolies than they may realize. But if they desire to hasten the day
of their success, they must bring the great masses of the people to comprehend that these movements aim at
nothing less than their complete deliverance; and that the reformers who labor so earnestly to make our
government purer and its people nobler, heartily desire also to cure the evils of monopoly, and to serve the
cause of the people in its every form.

Charles Whiting Baker.
Tribune Building, New York City.
June, 1889.
[ix]
TABLE OF CONTENTS.
The Problem Presented 1
A new use for the word "Trust," 1

\u2666The people's knowledge of trusts, 2
\u2666Remedies for trusts, 2, 3
\u2666Trusts a species of monopoly, 3
\u2666The problems which monopoly presents, 4
\u2666An impartial investigation necessary, 4
\u2666The question to be discussed from different standpoints, 5
\u2666A scientific method for solving the problem, 5.
\u2666

\u2022
Trusts and Monopolies in Manufacturing Industries 7
Definition of a trust, 7

\u2666The first trusts and their successors, 8
\u2666Description of the organization of the linseed-oil trust by one of its founders, 9
\u2666The action of trust-makers perfectly natural, 14
\u2666

\u2022
The Project Gutenberg eBook of Monopolies and the People, by Charles Whiting Baker
PREFACE.
2
Actual effect of trusts upon the public, 15

\u2666Profits of the linseed-oil trust, 16
\u2666Decreased market for goods controlled by trusts, 17
\u2666Control of the labor market by trusts, 17
\u2666The causes which have produced trusts, 18
\u2666Production on a large scale the most economical, 20
\u2666The Standard Oil Trust's defence of its work, 21
\u2666Its profits, and the cause of its low prices, 22
\u2666Industries in which trusts have been formed, 23
\u2666Andrew Carnegie's views of trusts, 24
\u2666The trust at once a benefit and a curse, 25.
\u2666

Monopolies of Mineral Wealth 26[x]
Mining, the first monopolized industry, 26

\u2666Monopolies in iron-ore production, 27
\u2666Monopolies in other metals, 28
\u2666The French Copper Syndicate, 29
\u2666The effect of its action on consumers of copper, 31
\u2666Profits of the richest copper mines, 32
\u2666Anthracite-coal production, 33
\u2666The anthracite-coal pool, 34
\u2666Coal monopolies in the West and South, 36
\u2666Monopolies in petroleum and natural gas, 40
\u2666Other monopolies of this class, 41.
\u2666

\u2022
Monopolies of Transportation and Communication 42
Transportation only a necessity in modern times, 42

\u2666The importance of railway traffic, 43
\u2666Railway transportation a vital necessity, 43
\u2666Shipping points where competition exists very few, 44
\u2666Consolidation and its benefits, 45
\u2666Intensity of competition in railway traffic on trunk lines, 47
\u2666Its inevitable effect, 48
\u2666The necessity of pools or traffic agreements, 49
\u2666Their history, 50
\u2666The Interstate Commerce law, 51
\u2666The effect of stimulating competition, 52
\u2666The evils charged to railway monopolies, 52
\u2666Evils due to wasteful competition, 53
\u2666Monopolies in other forms of transportation, 54
\u2666Monopolies on natural highways, 56
\u2666Monopolies of bridges, 56
\u2666The telegraph monopoly, 56.
\u2666

\u2022
Municipal Monopolies 59
City dwellers dependent upon monopolies, 59

\u2666Suburban passenger traffic, 59
\u2666Street-railway monopolies, 60
\u2666Water-supply monopolies, 61
\u2666Competition and monopoly in gas supply, 62
\u2666T. M. Cooley on municipal monopolies, 64
\u2666

\u2022
The Project Gutenberg eBook of Monopolies and the People, by Charles Whiting Baker
TABLE OF CONTENTS.
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