Chapter ix

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[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.

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