University of Houston Digital Library: Socialist and Communist Pamphlets: Socialism summed up

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Socialism summed up

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Hillquit, Morris, 1869-1933. Socialism summed up - Image 18. 1913. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. March 5, 2021. https://digital.lib.uh.edu/collection/scpamp/item/377/show/278.

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Hillquit, Morris, 1869-1933. (1913). Socialism summed up - Image 18. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/scpamp/item/377/show/278

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Hillquit, Morris, 1869-1933, Socialism summed up - Image 18, 1913, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed March 5, 2021, https://digital.lib.uh.edu/collection/scpamp/item/377/show/278.

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Compound Item Description

Title	Socialism summed up
Creator (LCNAF)	Hillquit, Morris, 1869-1933
Publisher	The H. K. Fly Co.
Place of Creation (TGN)	New York
Date	1913
Subject.Topical (LCSH)	Socialism
Genre (AAT)	pamphlets
Language	English
Type (DCMI)	Text
Original Item Extent	110 pages: illustrations; 20 cm.
Original Item Location	HX86.H77 1914
Original Item URL	http://library.uh.edu/record=b8304545~S11
Original Collection	Socialist and Communist Pamphlets
Digital Collection	Socialist and Communist Pamphlets
Digital Collection URL	http://digital.lib.uh.edu/collection/scpamp
Repository	Special Collections, University of Houston Libraries
Repository URL	http://libraries.uh.edu/branches/special-collections
Use and Reproduction	This item is in the public domain and may be used freely.
File Name	index.cpd

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Item Description

Title	Image 18
Format (IMT)	image/jpeg
File Name	uhlib_2100825_017.jpg
Transcript	i6 SOCIALISM SUMMED UP method of industrial management than competition, just as the modern machine is a superior and more efficient medium of industrial operation than the antiquated hand-tool. The trusts are a powerful factor in the industrial life of the nation, and they modify the social conditions of the country both for the better and the worse. As large consolidations of capital operating in unison over the area of an entire industry or a considerable part of it, they tend to eliminate much of the chaos and anarchy of the competitive system. They have the power to regulate the supply of commodities in accord with the demand, to curb waste and overproduction and to diminish the evil of periodical industrial depression and financial crises. But the beneficial features of the trusts are more than balanced by the new evils which they breed. The trusts, like all other modern industrial institutions, are primarily conducted for the profits of their individual owners and promoters. They are therefore afflicted with all the vices of private capitalist ownership and management, and their tremendous powers intensify the evils. The trusts have developed the art of overcapitalization to a most audacious and alarming extent. Billions of dollars of their watered "securities" are afloat in this country, and the workers pay an annual tribute of hundreds of millions to the holders of this paper in the shape of interest and dividends. It is practically a blanket mortgage which the trusts thus hold on the people