"In spite of Sherman anti-trust acts and 'big sticks,' the movement toward monopoly continues," said Harry W. Laidler, Executive Director of the League for Industrial Democracy, last night at a meeting of the Liberal Club in the Lowell House Common Room. "However," he continued, "big monopolies make Socialism easy." Dr. Laidler also claimed that the separation of ownership and management which is so widespread today invalidates the argument that industry can be run only with profit as an incentive.
Dr. Laidler opened his speech with a description of the vast extent of monopoly in certain fields. According to figures given by him, the United States Steel Corporation controls one half to two-thirds of the iron ore of the country, the Mellon family controls 90 per cent of the aluminum ore, and that seven-eighths of the chewing-gum in the United States is manufactured by Wrigley. He also said that one per cent of the banks of the country control more capital than the other 99 per cent combined.
"The old type of competition is a thing of the past," he went on to say. "The reason that the war between the cigarette and candy manufacturers ended so abruptly, is that Schulte and the United cigar stores bought a great many of the candy shops."
Dr. Laidler concluded with the statement that he thought that in spite of the N.R.A. the monopoly movement would continue.