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THE TRUST PROBLEM

HD 2731 J5 1917

BY

JEREMIAH WHIPPLE JENKS, Ph.D., LL.D.

RESEARCH PROFESSOB OF GOVERNMENT AND BUSINESS, NEW YORK UNIVERSITY;
PORMEB EXPERT AGENT OF THE UNITED STATES INDUSTRIAL COMMISSION;
MEMBER UNITED STATES IMMIGRATION COMMISSION; MEMBER

UNITED STATES COMMISSION ON TOREIGN EXCHANGE, ETC.

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Copyright, 1917, by
JEREMIAH WHIPPLE JENKS AND WALTER E. CLARK

All rights reseroed, including that of
translation into foreign languages,

including the Scandinavian

To

G. B. J. KEENEST, ABLEST, KINDEST CRITIC

PREFACE TO FOURTH EDITION

This edition of the Trust Problem is much more than merely a reprint of the old edition. It is practically a new book.

Some new chapters have been added. Chapter 1 on the Evolution of Business, the very large additions made to Chapter 9 on Prices, Chapter 10 on Trusts and the Working Man, with the new facts that they contain, aid materially in the discussion of the economic principles involved. Chapter 12 on Industrial Combinations in Europe gives us a basis of wide experience. The new chapters on State and Federal Trust Legislation in the United States, and the one on Trusts and the Federal Court, showing the development of legislation during the last few years, likewise serve to strengthen the economic foundation of the discussions, since the course of legislation has, to a considerable degree, clearly been based upon the principles brought out in the theoretical discussions.

In any book that is to serve as a text book it is desirable to furnish material as a basis for original study and judgment on the part of the student. The same material is desirable for business men and scholars who wish to be certain of the facts on which they are to base their judgment in business matters. In consequence,

it has been thought best in the appendices to include much new material. Appendices A, B, and C

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