NEW YORK & LONDON
G. P. PUTNAM'S SONS
The Knickerbocker Press
1889
COPYRIGHT BY
G. P. PUTNAM'S SONS
1889
The Knickerbocker Press
Electrotyped and Printed by
G. P. Putnam's Sons
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—that
preserver and protector of the rights
of the whole people—the author
dedicates this work.
In the following pages it has been my endeavor to present, first, theresults of a careful and impartial investigation into the present andprospective status of the monopolies in every industry; and, second, todiscuss in all fairness the questions in regard to thesemonopolies—their cause, growth, future prospects, evils, andremedies—which every thinking man is to-day asking.
The first part of this task, the presentation of facts with regard toexisting monopolies, may seem to the well informed reader to beimperfectly done, because of the host of powerful and importantmonopolies of every sort that are not so much as mentioned. But I havedeemed it most important that the broad facts concerning monopoliesshould be widely known; and I have, therefore, aimed to present thesefacts in a readable and concise way, although, in so doing, only a fewof the important monopolies in each industry could be even mentioned. Itis to be hoped that no one will underrate the importance of the problemof monopoly, or question the conclusions which I have reached, becauseof these[vi] omissions. To any such readers who may not be satisfied fromthe facts hereafter given that monopolies are the salient feature of ourpresent industrial situation, and, moreover, that they have come tostay, I would recommend a careful perusal of the financial and tradejournals for a few months.
Wherever possible I have presented actual statistics bearing on thequestion at issue; but as regards trusts, monopolies in trade, mining,labor, and in fact nearly all monopolies, there are no statistics to behad. Nor can any be obtained, for it would be absurd for the governmentto collect statistics of the operation of that which it pronouncesillegal but makes no effort to punish.
It may increase the respect of some readers for the conclusions I havereached, to know that it was a practical acquaintance with monopoliesrather than any study of economic theories which led me to undertake thepresent work; that, at the time I undertook it, I was wholly undecidedas to the proper remedies for monopolies, and was quite willing tobelieve, if the facts had proved it to me, that they were destined towork their own cure; and that the rapid growth and increase ofmonopolies in very many industries, in the few months since thesechapters were written, have furnished fresh evidence that my conclusionshave not been amiss.
Finally, I wish to place all emphasis on the fact that all the greatmovements toward genuine reform must go hand in hand. The cause of thepeople is one cause, and[vii] those who work for honest officers in ourgovernment, pure elections, the suppression of crime and pauperism,