Edited by Frank L. McVey, Ph.D., LL.D.,
President of the University of North Dakota

Now Ready

THE COST OF LIVING. WALTER E. CLARK, Professor and Head of the Department of Political Science in the College of the City of New York

JOHN F. CROWELL,

TRUSTS AND COMPETITION.
Associate Editor of the Wall Street Journal
MONEY. WILLIAM A. SCOTT, Director of the Course
in Commerce, and Professor of Political Economy,
University of Wisconsin

ΤΑΧΑΤΙΟΝ. C. B. FILLEBROWN, President Massachu-
setts Single Tax League, Author of A B C of Taxation
THE FAMILY AND SOCIETY. JOHN M. GILETTE,
Professor of Sociology, University of North Dakota
BANKING. WILLIAM A. SCOTT

THE CAUSE AND CURE OF CRIME. CHARLES R. HENDERSON, late Professor of Sociology in the University of Chicago

In Preparation

PROPERTY AND SOCIETY. A. A. BRUCE

THE CITY. HENRY C. WRIGHT

STATISTICS. W. B. BAILEY

BASIS OF COMMERCE. E. V. ROBINSON

GOVERNMENT FINANCE IN THE UNITED STATES. CARL C. PLEHN

WOMEN WORKERS AND SOCIETY. ANNIE M. MCLEAN

THE NEWSPAPER AS A SOCIAL FACTOR. ALLAN D. ALBERT

THE STRUGGLE FOR LAND IN AMERICA. CHARLES W. HOLMAN

Each, Fifty Cents Net

A. C. MCCLURG & CO., PUBLISHERS, CHICAGO

AND

COMPETITION

BY

John Franklin Crowell, Ph.D., L.H.D.

Of the Wall Street Journal, Sometime President of
Trinity College, Durham, N. C., and
Professor of Economics in
Smith College

C8

Copyright

A. C. McClurg & Co.
1915

Published May, 1915

Copyrighted in Great Britain

A

EDITOR'S PREFACE

FTER nearly a half-century of Trust experience it is becoming apparent what the national trust problem is, and how it shall be handled. It needed the struggle over the status of the Standard Oil Company, the uncertainties of railroad combinations, and the crowning purpose of the Northern Securities Company to make known the length and the breadth of the problem. For full half of the time devoted to this great economic question, the author of this volume has been in the midst of the situation. Equipped with thorogoing training and possessed of wide knowledge of the facts, Dr. Crowell has given to The National Social Science Series a really important contribution to the Trust question. Big business is on trial, so is competition as an economic factor. What we shall do with them? This is the question the book well answers.

F. L. M.

312532.