The Marlborough Express PUBLISHED EVERY EVENING. THURSDAY, MARCH 9, 1911. THE MEAT TRUST MENACE.

Marlborough Express, Volume XLV, Issue 58, 9 March 1911, Page 4

The Marlborough Express PUBLISHED EVERY EVENING. THURSDAY, MARCH 9, 1911. THE MEAT TRUST MENACE.

It is with the highest satisfaction that wV read of the American Meat Trust's having suffered a set-bacit in its bold attempt to corner the Australian beef ■supply, the Melbourne representative of the Trust having stated that the Trust's debenture scheme has been withdrawn. Mr Elder, the gentleman in question, declares that5 the Trust's retreat is due to "strong expressions of public opinion." In all probability this refers to the statements made by the Commonwealth Minister for Customs, Mr Tudor, who ha® been most vigilant in obtaining information as to the scope and real object of tho Trust s invasion of Australia, and who, as the result of his inquiries, has declared that the Government he represents intended to fight the American monopolists to the bitter end, in order to prevent their getting the same controlling power in Australia which they possess and so unscrupulously -exercise in the -United States. Few New. Zealanders, we believe, have any idea of the vastness of the Trust's ramifications in America. Originally promr. bed by tho great meat-preserving — "veat packing" is tho American tc..-m—firm of Swift's, of Chicago, it vr.A soon joined by other great firms, such as the Armours, of the same city, and has extended its interests and operations until, at tho present time, it is said to control no less than forty millions sterling of capital, and practically to command the whole sources of supply and every channel throagh which the meat is disposed of, not only to th« American public, but to foreign consumers. About two years ago the Trust extended its operations to tho Argentine, Swift's buying the two principal meat concerns at Buenos Ay res. ■'The result has been in the1 Argentine exactly what it has been in the United States, namely, that-the producer now receives a considerably decreased rate for his meat as compared with that which he received previous'to'the Trust's appearing on the scene. In Australia the Trust has been proceeding on a specially cunning plan, and not a few large stationholders ar«* reported to have been .hoodwinked:, intp accepting the debenture scheme." At first eight this may have appeared advantageous, for, according to Sydney journals which have investigated the matter, the Trust posed as the1 good friend of the producers, and endeavored to persuade them to take up debentures, on tfoef ground thiatth© power of combination which the Trust possessed would enable tho squatters to get a much better price for their meat, whilst at the same time their interests would be permanently protected by the fact' that they were shareholders. Such an argument, to those who know how the Trust has worked in America, is irresistibly reminiscent of the old story of the snake, which first fascinates its victim, then covers it all over with a slimy substance, and then, last and most important stage of all, swallows it. Such has been the fate of the stock-raisers in the Western States of America, who were foolish enough to lend a willing ear to the blandishments of', the .Trust.; The debenture "dodge" is no new thing in America, and it would work out m Australia in precisely the same way as it did in the States. The Trust made;'-the stock-raisers partners —on paper—and for a brief period the latter were delighted by seeing the price of their stock go up.. But all at once the Trust took unto itself several more millions of capital on "preferred" debentures—and the Western stock-raisers saw themselves "frozen out" and practically at the mercy of the ingenious and unscrupulous people who had so cleverly fooled them. A long series of actions and cross-actions resulted, we believe, in the Trust's having to disgorge a jertaih. amount of its plunder; but many of _ the stock-owners were practically ruined, and even ( to-day the great majority have, not got completely free of the octopuis-like grip into which they had delivered themselves. The danger is not yet all over so far as Australia is concerned, and the day may, and probably will, arrive when New Zealand also will be affected. The capital at the back of the Trust is so colossal that a temporary setback is not likely permanently to discourage the plotters. Mr Elder, the Trust's Australian' representative, himself say.v that he does not expect a "complete retreat." Apparently the Trust is bent upon securing a command of the market, and, "foiled us itmay have been in its impudent attempt .., to induce Australian stockowners to "get Australian money and influence to defeat Australia's policy against the creation of trusts," it will now adopt other methods:. New meatpreserving works are, it is said, to be erected to compete with those already in existence, and owned, in most cases, by the producers themselves. The Trust will put up a good fight, a long fight, and a strong fight; but if only the. producers-are loyal-to <-ach other, ana refuse to be tempted by a temporary extra profit, they need not. fear the greedy monopolists, whose object, in the end, is to get the trade completely, into their own hands. As for the Commonwealth Government, it may be trrsted to do all in its power to prevent Australia from being curse;! with a Yankee Meat Trust. Th© progress of the struggle will be watched by New Zealanders with the keenest interest.