Monopolies and the People

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G. P. Putnam's Sons, 1889 - Competition - 263 pages
 

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Page 50 - ... private on a price, below which neither will sell. If they cannot do this publicly, they will assuredly do it secretly. This is what, with alternations of conflict, the railroad companies always have done in one way or another ; and this is what they are now doing and must always continue to do, until a complete change of conditions is brought about. Against this practice, the moment it begins to assume any character of responsibility or permanence, statutes innumerable have been aimed, and clauses...
Page 159 - Some writers state clearly and frankly that "the competitive system of industry is fast passing away," and that all lines of business "are, or soon are to be, monopolized;" that "monopolies of every sort are an inevitable result from certain conditions of modern civilization;" "that experience seems to justify the belief that monopoly within certain limits . . . may be secured simply by the possession of large capital;" or that trusts represent "a vast accumulation of productive resources which renders...
Page 21 - Out of disastrous conditions had come "cooperation and association among the refiners, resulting eventually in the Standard Oil Trust [which] enabled the refiners so cooperating to reduce the price of petroleum products, and thus benefit the public to a very marked degree." In these arguments, learned economists of the time, such as Professor Hadley, supported Dodd. The Trust, as perfected monopoly, pointed the way to the future organization of all industry, and abolished "ruinous competition.
Page 108 - That every man and woman of our realm of England, of what condition he be, free or bond, able in body, and within the age of threescore years, not living in merchandise, nor exercising any craft, nor having of his own whereof he may live, nor proper land, about whose tillage he may himself occupy, and not serving any other...
Page 263 - There is no more important lesson to impress on the minds of the toiling millions who are growing restless under the burdens of monopoly than this : The only remedy for monopoly is control ; the only power that can control is government ; and to have a government fit to assume these momentous duties, all good men and true must join hands to put only men of wisdom and honor in places of public trust.
Page 64 - Court. silently but steadily have forced down the charges for railway service.* It is not alone in the matter of railway regulation that lawmaking is likely to be ill-advised and detrimental to both public and private interests. The supply of public conveniences to cities is commonly a monopoly, and the protection of the public against excessive charges is to be found, first, in the fact that low prices generally extend the market, and, second, in the municipal power of control. Except in very large...
Page 64 - Except in the very large cities, public policy requires that for supplying light and water there should be but one corporation, because one can perform the service at lower rates than two or more, and in the long run will be sure to do so. But scheming men make periodical attacks upon corporations existing for...
Page 255 - ... the most important factor of commercial life, and it should only be abridged when it is clear that the public must be injuriously affected by its unrestrained exercise in a particular case. Freedom of all kinds may be abused, and commercial freedom, as well as any other, may degenerate into license. The development of judicial thought in regard to contracts in restraint of trade has been especially marked. The ancient doctrine upon that head has been weakened and modified to such a degree that...

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