RISE OF THE STANDARD OIL COMPANY 203 



trust was dissolved, to 48 per cent in 1901. The power of 

 the Standard Oil company is tremendous, but it is only such 

 power as naturally accrues to so large an aggregation of capital ; 

 and in the persistence with which competition against it has 

 continued, in the quickness with which that competition 

 increases when opportunity for profit under existing prices 

 appears, and in the ever present possibility of competition 

 which meets the Standard Oil company in the direction of 

 every part of its policy, lie the safeguards against the abuse of 

 this great power. 



