FOOTNOTES:
[138] S.C.T. Dodd, The Forum, May 1892.
[139] "Trusts in the United States," Economic Journal, p. 86.
[140] Baker, Monopolies and the People, p. 85.
[141] Cf. Chapter ix.
[142] Mr. George Gunton, in writing upon "The Economic Aspect of Trusts" (Political Science Quarterly, Sept. 1888), claims a rise in wages as one of the advantages of Trusts, but Mr. Gunton throughout his argument assumes that a Trust is a large competing capital and not a monopoly. If a Trust were a competing capital its formation would be an economic and social advantage, tending, as he says, "to increase production, to lower prices, and to raise wages." But as a Trust is not a competing capital it does none of these things.
[143] J.W. Jenks, "Trusts in the United States," Economic Journal, vol. ii. p. 80.
[144] H.D. Lloyd, Essay on "Trusts," reprinted in Boston Daily Traveller (June 16, 1893).
[145] G. Gunton, Political Science Quarterly, Sept. 1888. This statement, however, appears in contradiction to the "Report of the Committee on Investigations relative to Trusts in the State of New York," p. 12.