The Twentieth Century American Being a Comparative Study of the Peoples of the

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This being so, for Englishmen or other Europeans to speak of all manifestations of the process itself as " American " is not a little absurd. Besides which, to so speak of it in the tone which is generally adopted is extremely impolite to a kindred people whose good will Englishmen ought to, and do, desire to keep.
The thing is best illustrated by taking a single ex ample. The term " Trust" is, of course, very vaguely used, being generally taken, quite apart from its proper significance, to mea
...n any form of combination, corpor- 33 2 The Twentieth Century American ate aggregation, or working agreement which tends to extend control of a company or individual, or group of companies or individuals, over a larger proportion of a particular trade or industry. In the United States, with the possible exception of the Standard Oil Com pany (which is not properly a trust), the form of corporate power against which there has been the most bitterness is that of the railways, and the specific form of railway organisation most fiercely attacked has been the Pool or Joint Purse which is, in all essentials, a true trust.

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