The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1890-03-25
THE SENATORS DISCUSS THE TRUSTS.
Many Minds AS to the Proper Way
to Combat the EVIL.
Senator Sherman Tells Why His Bill
Was Not Made Stronger.
Probable Effect on the Organizations
of Farmers and.L abprers.

restraint of trade and production, was taken
up in the Senate today, and MIR, Turpee dis
cussed the constitutional points involved.
| He predicted that before many years the
whole mass of merchantable paper, made at
one place. negotiable at another place, and
payable at another, would be remitted to
congressional action, to avoid the eternal
dissonance of judgments and decisions of 40
or 80 state tribunals of last resort. There
FORE he would not indulge in structures on
| the pending bill. He was too favorably il
clined to its main purpose to do so. He be-
lieved Congress had the same power to regu-
late interstate commerce that the states had
to regulate commerce within their own lines.
Mr.. Pugh said that in the main he fully
| endorsed Mr.. Turpie's remarks.
| The amendment offered by MIR. Reagan, be
ing his antitrust bill, was the first question
| to be voted on. =
| Mr.. George said he regarded the amend
ment as he did the bill, utterly without war
| rant in the constitution.
Mr.. Teller said he was in full sympathy
| with the object of the bill. The only ques-
| tiOn was how trusts and combinations could
| be controlled; His own judgment was that
the states had proper powers to c0ntrol thems
1t had just been suggested to him, suppose
| trusts control the states?" He did not know
that they were more liable to control the
states than to control Congress. He was in
clined to vote for the bill, although he doubt
ed very much whether any benefit would be
derived from it. Unless the states suppress
ed these trusts by limiting the amount of
capital that can be aggregated in any corpo-
ration, the trouble would continue. The
Aancs and tbe NatonppP pPFF une eagns
which were organized with the av0wed pur-
pose of increasing the prices Of farm pro-
ducts, thing he regarded as most desirable
and absolutely essential to the prosperity of
the country.
Mr.. George referred to the knights Of La
Dor as an organization that could come with
in the scope Of the bill because the object of
the order was to increase their wages, and
consequently increase the cost of produc-
tion.
Mr.. Teller suggested to the committee,
which reported the bill whether it could not
be so worded as to confine it to trusts often
sive to good morals.
Mr.. Reagan remarked that the first neces.
sity was to strike down the trusts and COM
binations which gave lite to the Knights of
Labor and trade unions.
The discussion drifted from Mr. Reagan's
amendment to that offered by Mr.. ingalls,,
aimed at dealers in futures and options.
Mr.. Sherman opposed it as not in harmony
with the bill, as referring to entirely differ
ent matter, as proposing tax, which could
not originate in the Senate, and as not hav-
ing been considered by the committee. He
also opposed Mr.. Reagans amendment,
which had not been considered by the COM
mittee, and pleaded for passage of the bill
as reported from the finance committee.
Mr.. Stewart said that combinations were
at the foundation of all civilized society and
seemed to be like the necessary evil of civili-
Zati0n itself. The English people tried to
check them for hundreds of years and
finally came to the conclusion that legis-
lation on all such subjects simply
retarded trade. There would be the same
result in this country if the like thing was
attempted. The pending bill, he said, would
be particularly oppressive to the struggling
masses making combinations to resist ac-
cumulated wealth. He did not find any
warrant in the constitution that would
permit the prosecution of the farmers of
Iowa or Kansas who combined to hold back
corn until prices were better. He regarded
as the worst combine" in the country that
which makes money scarce Labor organ
by the amount OF money In the countrd
would be in proportion to population any
business.
Mr.. Blair opposed Mr. Ingalls's amend
ment as being really the legalization or
licensing of gambling in futures" on condi-
tion of paying high tax.
Mr.. Hoar criticized the bill in some Of its
legal aspects and claimed that 1t failed to
afford any adequate remedy.
Mr.. Sherman said here was remedy for a
greater wrong than any that would resnlt
from low tariff. Combinations had been
made involving a capital of $500, ,000, 900.
to wrestle with them. The remedy would
never come from the class Of men
engaged in such monopolies. He had
seen the gradual growth of combinations
and knew that their power was growing
greater and greater. stronger and stronger.
Ii Congress was impotent to deal with that
evil, If it could prescribe nothing but a
quack medicine, it would prove itself utterly
united to perform its duties. The farmers
associations throughout the country demand
ed remedy and their demand had to be
heard. The power of Congress was the only
power that could deal with those corpora
tions.
Mr.. George asked Mr.. Sherman whether
the Standard Oil Company was not a cOrpO-
ration under the laws of Ohio, and whether
the legislature of that state could not annul
its charter.
Company was originally organized with a
modest capital of 100000. Phere were 40 or
80 companies of other states combined with
it. He had been in favor of general law de-
claring certain contracts null and void, and
had modified his proposition to meet the
too far. Now the objection to the bill was
its weakness, but it was the weakness drawn
into the bill by the objections made in the
Senate.
Mr.. Vest objected to the bill. In his
Judgment, it would effect nothing. He be-
lieved the Supreme Court would not enter
tain itf0r moment. II destroyed all his
ideas of the limitations of the Constitution.
1t was against the letter and spirit of the ju-
dietary act OF 17S9
Mr.. Hiscock spoke against the bill as not
promising relief: Mr.. Teller did not believe
evil. He thought it would be well to remit
the bill to the Judiciary committe.
The bill went over until tomorrow without
action.