Page:American Journal of Sociology Volume 8.djvu/74

 62 THE AMERICAN JOURNAL OF SOCIOLOGY

law against restraint of trade. The average man, and his repre- sentative in political life, wants more legislation against monop- oly rather than less or none at all. Many earnest, scholarly, and thoughtful men are suggesting publicity and other conven- tional remedies. The socialists regard the trusts as unconscious but powerful allies, and predict the early "expropriation of the expropriators" by the government. Finally, the individualists unterrified or thoroughgoing, as well as those who are not severely logical what is their solution ?

Let us examine these several positions.

Repeal would indeed relieve the governments of crushing burdens and bewildering complications. There would be no litigation, no danger of " disturbing business," no doubtful injunction proceedings, no possibility of discrimination, no occa- sion for conspiracies, evasions, trickery, and subterfuge on the part of the combined corporations. But what would become of the interests of the consumers ? How would extortion and oppression be discouraged ? No one will contend that the con- sumers are not entitled to the care and solicitude of the legisla- ture, or that monopoly is intrinsically good, so that consumers have no need of safeguards and protective laws. It is tacitly admitted on all hands that the rights and claims of the con- sumers are paramount. In fact, the theory of the law is that even ordinary corporations for competitive business are created by the state to subserve the convenience of the public, and not to increase private opportunity for profitable employment of capital.

But two answers are possible to the question as to the con- sumers' interest under a laissez-faire trust policy. One of them is perhaps as well framed by Mr. Andrew Carnegie in his new volume, The Empire of Business, as it has ever been or can be put, and it may be quoted as typical. To Mr. Carnegie, trusts are a mere bugaboo. He tells the consumer that he can smile at all efforts of manufacturers and industrial "barons" to defeat economic law by combination. Mr. Carnegie writes (p. 168):

There can be no permanent extortion of profit beyond the average return from capital, nor any monopoly, either in transportation or manufacturing.