"As this twin series of giant industries continued to grow and expand, the ways by which they might co-operate with mutual benefit, would continue to multiply. In political matters such a combination would prove remarkably strong; first in the township and county; later, in state and national legislatures, where it would soon be able to demand and push forward favorable legislation, and also to strangle much that might threaten to prove adverse. In such efforts, would come opportunities for introducing to the arena of public life, an abler, nobler, purer class of young men; who, born of a better social, industrial system, by reason of superior conditions for birth and training, would be properly endowed with that inspiring patriotism, sterling integrity, and commanding ability, so necessary to maintain the dominancy and perpetuity of the Republic, as a government of the people, for the people and by the people."
"Bravo! Well done Fillmore! Your statement of the subject is grand, indeed! The eloquent summing up, forms a fitting climax in answer to my last question, the closing one of the series. But, as much as I admire and appreciate its general excellence, you must allow me to suggest one criticism. Do you not think Fillmore, that you put the case rather too strongly, when you place the press, the university and the pulpit, so completely under the control of trusts, or the leaders of the competitive system? Would they dare to do such a thing?"
"Bless you my dear girl! They are capable of doing anything! So far as the trusts and the competitive system are concerned, I have stated the case very mildly. Not one-half of the story has been told. Let us probe this question a little deeper.
"What is a trust? It is the highest form of monopoly. It is a nest of corporations, laid and hatched by the competitive system! It has neither conscience to hold it in check, nor soul to be damned! It dares to do anything! Indeed! It is formed for the sole purpose of making money. Nothing is allowed to stand in the way. Born of the consolidating pressure, which marks the competitive system, it seeks to monopolize all of the advantages of that cruel system, without incurring its penalties. Once thoroughly organized, and armed with the almost unlimited power of its enormous capital; the trust immediately commences the wholesale destruction of all opposing industries or interests. In pushing this work, it regards neither the equities of commercial law, nor the vested rights of others. Securely protected by its monopoly, this modern juggernaut in the commercial world, rolls remorselessly onward toward its goal of wealth. It cares not for the safety of worshippers, friends or foes. If by chance they represent competing interests, they must either leave the field or be crushed. There is no alternative! There is no escape!
"A few of the leading trusts, those most completely representing the competitive system, have recently become so defiant, so audaciously bold, that they are prepared to undertake, to consolidate the business of the whole earth. They will stick at nothing! They have the gorge to swallow one government or ten! It matters little to them! Like the ring of conspirators, in Donnelley's 'Ceaser's Column,' a few of the leading spirits, of these daring trusts, are secretly plotting in Gotham! Just at present, they have their eyes fixed on the all-powerful money question. The vision seems a pleasing one!
"What is that question, which so completely absorbs the attention of these people? Can it be possible, that the mills of the competitive system will grind up rich bankers, as unconcernedly as they do the helpless poor! They surely will! The plot grows and thickens! Let us give it close attention. Let us watch these people. Keeping in mind meanwhile, that hitherto, the bankers of the country, have complacently considered themselves masters and kings of the financial situation, whose thrones were secure for all time. Strongly intrenched behind well-filled money bags, they have felt themselves safe in helping the trusts to fleece the public. Now they are becoming alarmed. They are shaking in their fifteen-dollar boots! They behold that dreadful handwriting on the wall! In giant letters, seemingly towering forty feet tall, these bankers read the doom, which the trust conspirators are now preparing for them. They catch the frightful significance of the question, which the trust leaders are discussing. It is this. Why should the business of the United States, support such an army of banks? More than ten thousand. We know very well, that the entire money transactions of this country, could be handled more safely, more swiftly, and more cheaply, by one grand central institution. With one voice the conspirators exclaim! Let us form a pool! Let us consolidate the whole business, into one magnificent money trust! Let us select, say twenty-five, of the brainiest bankers in the business! Let us give them fat salaries, and make them superintendents of the financial agencies, now called banks. Counting the whole number of banks, both public and private, as ten thousand, with three professional bankers to each one, the result would be a total of thirty thousand bankers. Of this number, we could reduce twenty-nine thousand, nine hundred and seventy-five, to the station of bank clerks. Let us pause for a moment to contemplate the result! What enormous savings would accrue, by the introduction of such a wholesale scheme of consolidation! These savings would be ours! Intoxicated with the brilliancy and the hugeness of the idea; the conspirators with one impulse, spring to their feet, with outstretched hands they form a ring, they execute a round dance extraordinary. While thus engaged, they gaily shout, 'There is millions in it for us!'
"No wonder the bankers are alarmed! With the exercise of one-half of their usual cunning and foresight, they should have scented the danger sooner. No doubt, they were so engrossed by the fascinating game of money grabbing, that they were wholly blind to danger, as the result of the combined audacity and perfidy of their former partners. They have evidently failed to learn one plain lesson, which is taught by the logic of events. It is this. When once fairly started, the process of the larger corporation, swallowing the lesser, goes forward with such an ever-increasing rate of speed, that it soon overtakes and gobbles up banks and bankers.
"At this point, it is pertinent to propound the following questions: If this is a Republic? If the people are the government, and the government is the people? And if the consolidating business, is so good and so profitable for the trusts? Why, should not the government, own and run this giant central bank? Why, should it not own and operate the railroads, the canals, the shipping, the mines, the forests, and all other industries? This would give the people a chance to share equally, in the enjoyment of these enormous profits. Why not?
"What say you my dear Fern! Would it not be infinitely better, than to allow the government to be swallowed by one monster trust?"
"Better Fillmore! Far better! I am convinced! I withdraw my criticism. You have maintained your point so vigorously, that I have not the courage, to offer one single word in reply. I am ready and willing, to consider the discussion as finally closed."