Modern Economic Problems eBook

Frank Fetter
This eBook from the Gutenberg Project consists of approximately 554 pages of information about Modern Economic Problems.

Modern Economic Problems eBook

Frank Fetter
This eBook from the Gutenberg Project consists of approximately 554 pages of information about Modern Economic Problems.
1890  ...................     6                       $82,000,000
1891  ...................    13                       168,000,000
1892  ...................    13                       140,000,000
1893  ...................     5                       226,000,000
1894  ...................     2                        35,000,000
1895  ...................     7                       104,000,000
1896  ...................     3                        40,000,000
1897  ...................     6                        93,000,000
1898  ...................    22                       574,000,000
1899  ...................    80                     1,688,000,000
----------------            ----                   --------------
Total, 10 years .........   157                    $3,150,000,000

The influence of great prosperity shows in the large number of combinations; but in 1893, the number was less, altho the total nominal capital (stocks and bonds) was still the greatest it had ever been in any year.  Then came the period of depression, 1894-97, when both the numbers and the capital were comparatively small.  Then from 1898 to 1901 followed the period of the greatest formation of trusts the world has ever seen.

The list of these four years contains the names of the most widely known American combinations, a few of which are here given with the years of their formation:  1898, American Thread, National Biscuit; 1899, Amalgamated Copper, American Woolen, Royal Baking Powder, Standard Oil of N.J., American Hide and Leather, United Shoe Machinery, American Window Glass; 1900, Crucible Steel, American Bridge; 1901, United States Steel Corporation, Consolidated Tobacco, Eastman Kodak, American Locomotive.

Sec. 10. #Height of the movement toward combinations.# In a list by another authority[8] it appears that the data for all industrial trusts are in round numbers as follows: 

Number of
Plants Acquired              Total
Date          Number       or Controlled           Nominal Capital

Jan. 1, 1904 318 5288 $7,246,000,000

These figures compared with those given above would indicate that the industrial trusts had about doubled in the years 1900-1903 inclusive.  Probably most of this growth was in the years 1900 and 1901; then the movement became very slow, because, as is generally believed, of the aroused public opinion, of more vigorous prosecution by the government, and of additional legislation against trusts.  The authority last cited gives in a more comprehensive list, in six groups, all the monopolistic combinations in the United States, at the date of January 1, 1904, as follows (the figures just given above being the totals of the first three groups): 

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Modern Economic Problems from Project Gutenberg. Public domain.