The times. [volume] (Richmond, Va.) 1890-1903, 1895-07-16
SOME ABSURD LEGISLATION TOUCH
ING "THIST~.''

The Legislature Of Virginia that was
elected i'm November 1891. came here nlled
with the idea that it would end all
TRUSTS" and other injurious combinations
of capital in Virginia. There were ac-
cordingly introduced into it two or three
OF the widest most absurd bills that
could have been constructed by men
suffering with Nightmares. The Times
did its full part in exposing the absurd
ties Of these measures. and they were
accordingly killed.
The state Of Texas. however, seems TO
have caught. in all its intensity, the mania
that prevailed here then. but 1t seems
TO have no Times to administer the cure.
Her Legislature has passed an act under
which an Illegal combination is created
whenever two or more persons combine
their capital. skill. or acts" so as to re-
strict trade or prevent competition. or
so as 10 reduce prices. or 50 as TO fix the
price OF an article.
The penalties are very severe. For
eign corporations violating the law are
prohibited from carrying on business
within the State. and individuals are TO
BE- imprisoned in the penitentiary.
Such a measure as this lays the axe
AZ the root Of all cooperation amongst
men. 1t applies just as much TO two or
three men entering into partnership to sell
dry goods or groceries by retail as TO the
several wealthy firms that combine to-
gether TO form the American Tobacco
Company. one partner In such store
must sell the goods he disposes Of with
out consultation with another partner,
so that we might have one partner selling
goods at one counter at one price ana an
other partner selling the same goods at
another counter at different price.
Under this law men would. Of course.
cease doing business in partnership, but
then it would apply with equal force TO
one man conducting his business with
clerks aud statesmen. The statesmen could
not confer amongst themselves or with
the employer to fix a common price for
the goods. so that one salesman would
sell at one counter at one price and an
other salesman would sell the same goods
at another counter at a different price.
III is only a waste OF time to point out
the infinite absurdities that such a meas
ure as this involves
And. yet. If there can be any legislation
against combinations o, capital II must
be legislation which IS just as radical as
this For. II two men may combine their
little joint capital OF $2cO0 and work to-
ec;hcr for common purpose. then two
hundred men must have the same right
10 combine their joint capital Of two hum
dred mlllions OF dollars and work togeth-
or for a common purpose. There can be
no line drawn. Combinations OF capital
are either right or they are wrong. II
;hey are right. they are as right when
participated in by many with immense
capital as when participated in by few
with small capital. II they are wrong.
they are as wrong when consisting of a
few men with small capital as when con-
Slsting OF many mca with immense capi-
tai The right or the wrong is in the
act OF combination. and not IA the num-
Der participating in the act.
The tendency OF the day land 1t is the
ou,growth OF increased knowledge and
facilities for busincss) is towards the end
ing OF destructive competition and the
cooperation OF men pursuing the same
lire Of business, and II is an attempt TO
obotruct the march CT civilization for Leg
tslatures 20 pass acts which seek to in
tcrscre with such combinations. Nor is
there any danger to society In the ten
dency II carries with 1t its own correc-
ton. which Hes in the principle that such
combinations inevitably tend towards re-
hucspg pricsA Their object Is TO make