Monopolies and the People | Page 2

presents, 4 An
impartial investigation necessary, 4 The question to be discussed from
different standpoints, 5 A scientific method for solving the problem, 5.
II. TRUSTS AND 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