New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-15
THE CONTROL OF "TRUSTSn
A STRINGENT MEASURE INTRODUCED IN THE
SENATE BY Mr.. REAGAN

SENATE BY MR. REAGAN.
Washington, Aug. II tSpeclaD. Senator Reagan
introduced bin to-day designed TO countcract the
mschievous effects OF trusts and other combinations
which stamp out all competition. There was much
rivalry displayed as to which committee the bill
should be referred to. Mr. Reagan himself seemed In
different about H. though he indicated that In view
OF the many important legal questions involved. the
Judiciary Committee should have consideration OF IT,
To this Mr.. Sherman objected on the ground princ-
psly that the subject matter was already In an In
formal way before the Committee on Finance.
Mr. Beck thought that that committee had already
moro than It could handle on its docket, but Mr.
sherman commended that trusts must be dealt with,
If at all, in connection with bills lie
had himself, he said, given some attention TO the
subject In order to how far IL was within the
constitutional power OF Congress 10 prohibit trusts
and combinations In restraint Of trade. It was very
clear that there was no such power in Congress to
BIS derived from It's power to raise and collect
II was power which might be exercised by each
state for itself Similar laws had been enacted in
England and other countries. Indeed, there
in BlackstOne's Commentaries denuncatlons of trusts
and monopOlles as strong could DO written IN the
English language. Whether such laws could be en-
grated by National authority the statute book Of
the United States under its peculiar system Of gov.
mcnt, there was some doubt II it could be done at
all II would have to be done tariff
bill lie did not in what other way It could
BIO done. The difficulty that some OF the most
dangerous OF such combinations Oko the Standard
Oil Company grew out Of matters that not
taxed 1t was certain that where such combinations
grow out OF the revenue laws like the sugar trust
tone OF tho most dangerous and wrongful trusts ever
organized In the couDry) It could be cgsated against
by Congress, and perhaps the best way was to let
the matter 20 to the Committee on Finance.
After some further discussion, the bill was referred
to the Committee on Finance. 1t declares that a
trust IS the combination OF capital or stock by two
or more persons for the purposes OF creating or car
rying out restrictions In trade to limit, reduce or
Increase the production prices OF merchandise or
commodities, to prevent competition I'm tho manufact-
ure, making, sale, or purchase OF merchandise
to create a monopoly 1t provides that
any person who may be may become member
Of any such trust shall be guilty Of a high mis1c-
mcanor, and conviction in any United States court
shall be fined not moro than $4,000 or less than
II 900, and may be imprisoned In the pcnentiary
from one TO five years that the purchase by any
rust the agent thereof Of merchandise commod
ties IN a foreign country for salc In this country,
DR. the manufacture, making purchase OF any mer-
,handso or commodity In this country for sale I'm a
0rsgn country or the manufacture or purchase Of
or commodities In one State for salo
another or In any state Territory for sale I'm the
District Of Columbia the District for sale elsewhere
hail be a violation OF the act punishable already
prescribed.