Looking Backward from 2000 To 1887: A Utopian Classic! by Edward Bellamy Read Free Book Online

replied.
      "That is just it," said Dr. Leete; "the organization of labor and the strikes were an effect, merely, of the concentration of capital in greater masses than had ever been known before. Before this concentration began, while as yet commerce and industry were conducted by innumerable petty concerns with small capital, instead of a small number of great concerns with vast capital, the individual workman was relatively important and independent in his relations to the employer. Moreover, when a little capital or a new idea was enough to start a man in business for himself, workingmen were constantly becoming employers and there was no hard and fast line between the two classes. Labor unions were needless then, and general strikes out of the question. But when the era of small concerns with small capital was succeeded by that of the great aggregations of capital, all this was changed. The individual laborer, who had been relatively important to the small employer, was reduced to insignificance and powerlessness over against the great corporation, while at the same time the way upward to the grade of employer was closed to him. Self-defense drove him to union with his fellows.
      "The records of the period show that the outcry against the concentration of capital was furious. Men believed that it threatened society with a form of tyranny more abhorrent than it had ever endured. They believed that the great corporations were preparing for them the yoke of a baser servitude than had ever been imposed on the race, servitude not to men but to soulless machines incapable of any motive but insatiable greed. Looking back, we cannot wonder at their desperation, for certainly humanity was never confronted with a fate more sordid and hideous than would have been the era of corporate tyranny which they anticipated.
      "Meanwhile, without being in the smallest degree checked by the clamor against it, the absorption of business by ever larger monopolies continued. In the United States there was not, after the beginning of the last quarter of the century, any opportunity whatever for individual enterprise in any important field of industry, unless backed by a great capital. During the last decade of the century, such small businesses as still remained were fast-failing survivals of a past epoch, or mere parasites on the great corporations, or else existed in fields too small to attract the great capitalists. Small businesses, as far as they still remained, were reduced to the condition of rats and mice, living in holes and corners, and counting on evading notice for the enjoyment of existence. The railroads had gone on combining till a few great syndicates controlled every rail in the land. In manufactories, every important staple was controlled by a syndicate. These syndicates, pools, trusts, or whatever their name, fixed prices and crushed all competition except when combinations as vast as themselves arose. Then a struggle, resulting in a still greater consolidation, ensued. The great city bazar crushed it country rivals with branch stores, and in the city itself absorbed its smaller rivals till the business of a whole quarter was concentrated under one roof, with a hundred former proprietors of shops serving as clerks. Having no business of his own to put his money in, the small capitalist, at the same time that he took service under the corporation, found no other investment for his money but its stocks and bonds, thus becoming doubly dependent upon it.
      "The fact that the desperate popular opposition to the consolidation of business in a few powerful hands had no effect to check it proves that there must have been a strong economical reason for it. The small capitalists, with their innumerable petty concerns, had in fact yielded the field to the great aggregations of capital, because they belonged to a day of small things and were totally incompetent to the demands of an age of steam and