THE COMBINATION OF LABOR, INTELLIGENCE 



AND MONEY. 



BY CHARLES R. FLINT. 



[Charles R. Flint, merchant; born Thomaston, Me., Jan. 24, 1850; graduated Poly- 

 technic institute of Brooklyn, 1868; became engaged in the South American trade, 

 and in 1878 organized the Export Lumber company, and in 18S1 the Crude Rubber 

 company; has represented the United States at various international conferences 

 dealing with trade and commerce; organized in 1892 the United States Rubber com- 

 pany which controls that industry, and in 1899 the United States Rubber company, 

 American Chicle company, American Caramel company, National Starth company, 

 and several other industrial combinations, and also several steamship lines; director 

 in several banks and a score of industrial companies. The following article appeared 

 originally in Cassier's Magazine and is published by special arrangement:] 



A combination of labor is a trades union; a combination 

 of intelligence, a university; a combination of money, a bank; 

 an industrial combination is a combination of labor, intelli- 

 gence, and money. There seems to be much confusion in 

 the minds of the people as to the difference between a trust 

 and an industrial company, due to the fact that those who 

 talk most about them are not yet well informed, either as to 

 their organization or operation. A trust was a syndicate of 

 men who held stock certificates of several corporations and 

 issued trust certificates therefor. Now, industrial interests 

 are represented by shares of stock in regularly organized 

 companies. Although strenuous efforts were made to develop 

 the trust system, it was found to be imperfect. It was adopted 

 when industrial combinations were in their infancy. They 

 were not required to have any by-laws or keep any official 

 minutes of their proceedings, or to make any official reports. 

 The Supreme court of New York declared them illegal, 

 and that decision has been accepted as final throughout 

 the United States. But the word " trust" has since been 

 applied to great industrial corporations, and as the word 

 represents all that is best in human character, I see no reason 

 why the word " trust" should not be adopted as a short name 

 for industrial combinations; and may every officer and wage 

 earner in every "trust" realize that the shares of stock are 



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