The Control of the Trusts
The Control of the Trusts.—The spirit of gold-getting is just as much alive to-day as during the years immediately preceding this. There has not been as great capitalization during the year just closed as during the previous year; but the cause has been as apparent as the fact. Capitalists have been waiting to see the outcome of the suit brought by the government against that consolidation of the northwestern railroads known as the Northern Securities Company. It is regarded as a test case, and the trusts are watching it with anxiety. If the decision is adverse to the company, other suits are expected to follow against other trusts; and the fear that it may be so has retarded the formation of trusts, tho it has not prevented their formation as the figures show. In 1898 the capitalization of new trusts amounted to $4,000,000,000. The year following it increased to $5,200,000,000. In 1901 such capitalization amounted to $4,000,000,000, while for the year 1902 it is estimated to have reached $3,700,000,000; but even the latter figure is enormous. The tendency is toward a continuance of the formation of great commercial combines. Congress has appropriated $500,000 to enable the Attorney-General to enforce the provisions of the Sherman anti-trust law. A number of bills have been introduced in that body, since the beginning of the present session, intended to curb the power of the trusts, notably one by Senator Hoar, which is generally regarded as covering the matter sufficiently well. But in all probability nothing will come of it. Money sways too great a power. The trust principle will not die, however it may be bound about, until selfishness is eradicated from the human heart, and that will not be this side of the coming of Christ.