Monopolies and the People | Page 2

MONOPOLIES IN MANUFACTURING INDUSTRIES 7 Definition of a trust, 7 The first trusts and their successors, 8 Description of the organization of the linseed-oil trust by one of its founders, 9 The action of trust-makers perfectly natural, 14 Actual effect of trusts upon the public, 15 Profits of the linseed-oil trust, 16 Decreased market for goods controlled by trusts, 17 Control of the labor market by trusts, 17 The causes which have produced trusts, 18 Production on a large scale the most economical, 20 The Standard Oil Trust's defence of its work, 21 Its profits, and the cause of its low prices, 22 Industries in which trusts have been formed, 23 Andrew Carnegie's views of trusts, 24 The trust at once a benefit and a curse, 25.
III. MONOPOLIES OF MINERAL WEALTH 26 Mining, the first monopolized industry, 26 Monopolies in iron-ore production, 27 Monopolies in other metals, 28 The French Copper Syndicate, 29 The effect of its action on consumers of copper, 31 Profits of the richest copper mines, 32 Anthracite-coal production, 33 The anthracite-coal pool, 34 Coal monopolies in the West and South, 36 Monopolies in petroleum and natural gas, 40 Other monopolies of this class, 41.
IV. MONOPOLIES OF TRANSPORTATION AND COMMUNICATION 42 Transportation only a necessity in modern times, 42 The importance of railway traffic, 43 Railway transportation a vital necessity, 43 Shipping points where competition exists very few, 44 Consolidation and its benefits, 45 Intensity of competition in railway traffic on trunk lines, 47 Its inevitable effect, 48 The necessity of pools or traffic agreements, 49 Their history, 50 The Interstate Commerce law, 51 The effect of stimulating competition, 52 The evils charged to railway monopolies, 52 Evils due to wasteful competition, 53 Monopolies in other forms of transportation, 54 Monopolies on natural highways, 56 Monopolies of bridges, 56 The telegraph monopoly, 56.
V. MUNICIPAL MONOPOLIES 59 City dwellers dependent upon monopolies, 59 Suburban passenger traffic, 59 Street-railway monopolies, 60 Water-supply monopolies, 61 Competition and monopoly in gas supply, 62 T. M. Cooley on municipal monopolies, 64 Prices, cost, and profits of gas supply, 64 Monopolies in electric lighting and in telegraph, telephone, and messenger service, 66 Other monopolies beneath city pavements, 67 Monopolies in railway terminals, 68 Monopoly in real estate, 69.
VI. MONOPOLIES IN TRADE 71 Absolute control not essential to a monopoly, 71 History of trade monopolies, 72 Monopolies in country retail trade, 73 In city retail trade, 74 In wholesale trade, 75 Co-operation of trusts and trade monopolies, 75 Monopolies in the grocery trade, 76 Monopolies in meat, 77 A general view, 78 Monopolies among purchasers, 78 "Corners" and monopolies, 80 Commercial exchanges and speculation, 82 Warehouse monopolies, 82 Insurance monopolies, 83 Trade monopolies artificial, 84 Their unjust acts, 85
VII. MONOPOLIES DEPENDING ON THE GOVERNMENT 87 Government monopolies in ancient times, 87 Government monopolies established for the benefit of the people, 88 Copyrights, 88 Patents, 89 Evils arising from the patent system, 90 Monopolies based on patents, 91 The Bell telephone monopoly, 92 Government subsidies, 94 Relation of the tariff to monopolies, 95 Origin of the protective tariff, 96 The tariff a secondary cause of trusts, 98 Reductions in the tariff as a remedy for trusts, 99 Monopolies carried on directly by Government, 100.
VIII. MONOPOLIES IN THE LABOR MARKET 102 Classes of labor considered, 102 Monopolies of capital and monopolies of labor compared, 103 Locomotive engineers' strike on the Chicago, Burlington, and Quincy Railway, 105 Effect of labor monopolies upon the people, 105 The history of labor, 107 The first trade-unions, 108 Laws against them, 109 Labor organizations from the laborer's standpoint, 110 "An injury to one the concern of all," 110 Preserving the self-respect of the laborer, 111 Repeal of unjust laws, 113 A defence for the action of labor monopolies, 114 The underlying cause of labor monopolies, 116 Limits to the power of labor monopolies, 118.
IX. MONOPOLIES AND COMPETITION IN OTHER INDUSTRIES 119 Occupations of the people, 119 Proportion of the people in any way benefited by monopolies 120 Proportion deriving the principal profits from monopolies, 122 Monopolies in the professions, 123 Monopolies among the servant classes, 124 Agricultural industry, 125 Can monopolies be established there? 126 A proposed farmers' trust, 127 The Grange and the Farmers' Alliance, 128 Killing the competition of oleomargarine, 129 Monopolies among agricultural laborers, 130 Proportion of the people benefited and proportion injured by monopolies, 130 Monopolies in the use of capital impossible, 131.
X. THE THEORY OF UNIVERSAL COMPETITION 133 The general effect of monopolies, 133 Two sorts of remedies suggested, 134 Study of the laws of competition necessary, 135 The growth of civilized society outlined, 136 The interdependence of modern society, 137 The theory of civilized industry, 137 Supply and demand and the unequal rewards of men's industry, 138 The theoretical perfection of our social system, 141