It belongs to the industrial progress of the day, and must not be condemned as if it were a retrograde or evil thing.

It is distinctly an attempt to introduce order into chaos, to save the waste of war, to organize an industry.

The Trust-makers often claim that their line of action is both necessary and socially beneficial, and urge the following points-- The low rates of profit, owing to the miscalculation of competitors who establish too many factories and glut the market; the waste of energy in the work of competition; the adulteration of goods induced by the desire to undersell; the enormous royalties which must be paid to a competitor who has secured some new invention--these and other causes necessitate some common action.

By the united action of the Trust the following economic advantages are gained-- a.

The saving of the labour and the waste of competition.
b.