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Updated: May 7, 2025
The word "trust" had not become a part of their vocabulary; "restraint of trade" was a phrase which only the antiquarian lawyer could have interpreted; "interlocking directorates," "holding companies," "subsidiaries," "underwriting syndicates," and "community of interest" all this jargon of modern business would have signified nothing to our immediate ancestors.
Herein we have the simple formula which made possible one of the most profitable and one of the most adventurous undertakings of our time. An attempt to relate the history of all these syndicates would involve endless repetition. If we have the history of one we have the history of practically all.
In those industries where cartels and syndicates have not yet been formed, too great a rôle is played by dubious practices of many kinds, by infringements of payment stipulations, by unjustifiable deductions, etc., while, on the other hand, the cartels are often too ruthless in their action. In this field we have very much to learn from the English business man.
And as the slave raids reach one province after another from Flanders to Antwerp, from Hainant to Brabant, as the fatal list of deportees increases from 20,000 to 50,000, from 50,000 to 100,000, from 100,000 to 200,000, whilst the cries of women and children are heard in the streets, whilst the modern slaves tramp along the roads carrying a light bundle of clothes on their shoulders, from everywhere in Belgium the strongest protests are sent to the Governor General, by the communes which will not consent to give the names of the unemployed, by the magistrates who will not see the last guarantees of individual right trampled upon, by the Socialist syndicates which are defending the right of the workmen not to work against their own country, by the chiefs of industry who show clearly that the whole responsibility of the labour crisis rests on Germany alone, by the bishops of the Church, who refuse to admit that, after two thousand years of Christian teaching, a so-called Christian nation should fall so low as to revive, for her own benefit, the worst custom of Paganism.
On the day of his death he was engaged upon the most highly organized and ambitious thing he ever attempted, and every line of it shows the hand of an engraver on steel. But it is also true that during the last years of his life he lived under the pressure of photographers and newspaper syndicates, who came to him with great sums of money in their hands.
The activity of a Russian syndicate in Korea had been the more or less direct cause of the Russo-Japanese War; the activity of rival American syndicates in Venezuela had been, but a few years before, productive of serious international complications. In the present instance, both South Americans and Japanese were interested.
And while preparing for the war which was to set Germany above the nations Deutschland über Alles these syndicates followed the policy dictated from Berlin, sowed discord between Russian firms and various State departments, organized strikes and paid the strikers in competing establishments, and thus deprived the Russian State of industrial organs on which it would necessarily have to rely in war-time.
This is a day of syndicates. The strength that lies in union is cultivated nowadays with much assiduity. But in matters of love the case is not yet altered, and never will be. It is a matter for two people to decide between themselves, and all interference is mistaken and deplorable.
Alan wondered if he were still asleep or not. What was all this talk of syndicates? He looked round the circle, and realized that this bunch could be up to no good. Hawkes said, "Tell him about it, Johnny." Byng leaned forward and blinked his drug-stained eyes. In a quiet voice, almost a purr, he said, "It's really very simple. We're going to stage a good old-fashioned hold-up.
Room 954 had a great many names on the door, names there stated to be those of "attorneys," "syndicates," and "corporations, limited." Among these names was that of the X. Y. Z. Co. Within, one side of Room 954 was partitioned off into many little alcoves.
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