The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1888-09-14
WILL TRY TO DOWN TRUSTS.

The trust business has become such a
pressing evil that both parties in Con-
gress seem to be in earnest in their eff
forts to devise legislation which may re-
heve the country from the effects of the
combines or make il impossible for them
to be formed. The senate committee on
finance has just reported a bill, it being
a substitute for but not greatly differing
from that recently introduced by Sena-
tor Sherman. 1t is much simpler than
the one of Mr.. Reagan, which has been
referred to the committee on the judi
ciary, or the various similar bills which
have been presented in the House. 1t
is difficult to see how a bill could be
much simpler than that of MIR. Sher-
mans in the form in which it now APP
pears, vet if such a bill shall become a
law it will undoubtedly prove a very Sc
rious embarrassment to the great trusts
unless it should be declared by the Uni
ted State Supreme Court to be %unconsti-
tutional.
IL VII uOl NC uIllhNClCCbAA6 W Jul
readers to peruse the bill reported yes
terday by Mr.. Sherman, and we copy its
full text as follows:
Be il enacted, That ali arrangements, con-
tracts, agreements, trusts and combinations
view or which tend to prevent a full and free
competition in the Importation, t~ransp0rta-
ton or sale of articles imported into the Uni
ted States, or in the production, manufacture
nr lala nf articles nf domestic raw material
that compete with any similar article upon
which a duty is levied by the United States, or
which shall be transported from one State or
Territory TO another, and all arrangements,
contracts, agreements, trusts or combinations
between persons or corporations designed or
which tend to advance the cost 10 the con-
sumner OF any of such articles are hereby de-
clared TO be against public policy, unlawful
and void.
SEC. 2. That any person or corporation in
jured or demnified by such arrangement con-
tract, agreement, trust, or combination may
sue for and recover in any court OF the United
States of competent jurisdiction, of any per-
SON or corporation a party to II combination
described In the first section of this act the full
consideration or sum paid by him for any
advanced in price by said combination.
SEC. 3. That all persons entering into any
such arrangement, contract, agreement, trust,
or combination described in section 1 Of this
act, either in his own account or as agent or
attorney for another or as an of1cer, agent, or
stakeholder OF any corporation or as trustee,
committee, or in any capacity whatever shall
be guilty of a high misdemeanor and on con,
yiction thereof in any District or Circuit of
the United States shall be subjected to u fine
of not more than $1,000 or to Imprisonment in
the penitentiaryf for a term OF not more than
I'VE years or TO both, such fine and imprison-
ment in the discretion of the court. And IL
shall be the duty of the District Attorney of
the United States in the Judicial District In
which such persons reside TO institute the
proper proceedings TO enforce the provisions
of this act.
If these provisions could be properly
enforced it is difficult to see how trusts
that are really damaging in their nature
could get a very strong foothold.