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The Pamphlet Collection of Sir Robert Stout: Volume 80a

The Question of Trusts

The Question of Trusts.

Last session the Government had introduced a Bill to prevent monopolies raising their heads in New Zealand, (Applause.) We had had a monopoly, or trust—the Millers' Trust. (A voice: "Take the duty off,") Well, the bottom had fallen out of the trust. (Laughter,) For the moment they had a practical proof of this, for there had been a reduction in the price of flour, and a reduction in the price of bread. (A voice: "Only one company.") No, said Mr Seddon, more than one company. There could not be a trust with one company. There were a number of millers in the trust; I know them, and know every word of their agreement, and know what I am talkine about. It did not require legislation to end that trust, out the existence of it had shown the necessity for legislation so that a trust should not be able to exist. And this brought him to something in the way of a trust which existed in this country. He was not a smoker now—(laughter)—so that he was not speaking selfishly; and he had his eye on the American Tobacco Company. (Renewed laughter.) Did they know that that combination fixed what tobacco should be sold, fixed the price at which it would sell to the vendors, and fixed the price the vendors were to charge the public? He said that there was a condition of things existing in our colony to-day, and page 7 difficulties under which every smoker laboured that demanded immediate attention. As they were aware, the American Tobacco Trust recently invaded the Mother Country, and there was an upstanding fight between the tobacco vendors and the Trust, and they fought vigorously, and John Bull came out on top and beat back the American Trust. Finding they could not get at him direct in the United Kingdom, the American trusts came and struck him below the belt by striking at him through the colonies. There was money in it, and if there was to be a monopoly at all, in his opinion, the State was best entitled to it. (Applause). He read the following from the English press in respect to the establishment of the American Groceries' Food and Meat Supply Companies in the United Kingdom:—" Unknown to the public, this combination of American capitalists has already purchased and opened more than five hundred grocery and provision retail shops in the north of England, and largely in the manufacturing towns of Lancashire. They are now turning their attention to Liverpool. Although the new company is registered as English, there seems to be no doubt that it is a vital part of the huge American Meat Trust. In the factory and forge and the coal-mining centres in the north of England, where co-operative stores flourish, and where the company is making its presence felt, it has purchased retail shops at good prices, hidden its identity and kept the people ignorant of the change of proprietorship by retaining the name over the establishment of the previous owner and keeping him manager of the establishment." If trusts commenced to extend from America and to invade Great Britain, it would be for our countrymen there to meet them as they had met the Tobacco Trust; but the action of the Meat Trust affected this colony, inasmuch as our products went to Great Britain, and if this trust was going to have its meat-shops there, this colony would have to have its meat-shops there also. (Applause.) When this matter of trusts came close to our doors, as in the case of the tobacco combination, its ramifications had more effect than people imagined; and if he were silent on the subject, he would be wanting in his duty, whatever course he might take. As the Government by legislation proposed to make it impossible for a millers' trust so it would mtike it impossible for a tobacco trust. (Applause.)