deed, in some places the complete abolition, by means of agreements, cartels and trusts, of the competition which the capitalists had formerly to meet in the individual branches of industry. On the other side we see the intensification of international competition through the rise of new capitalist powers, particularly Germany and the United States.
The agreements abolish competition among capitalists not only as opposed to the buyers of their products, but also as opposed to their laborers. Instead of numerous buyers of labor power they now stand as a unit opposed to the workers. How greatly this increases their superiority and how much it sharpens their antagonism to the laborers needs no further explanation.
According to the last census of the United States the wages of laborers in American industries have absolutely decreased during the ten years from 1890 to 1900. If this is correct it is not too much to say that it is one of the results of the trust.
The sharpening of international competition works in the same direction. Here also we find the laborers suffering together with the consumers from this development. Alongside of the increase in the price of goods through protective tariff, which also aid the formation of trusts and combines, we find an increased exploitation of the laborers by which the capitalists seek to meet foreign competition. The con-
