The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-30
WOULD UPROOT THEM
PROPER RESTRAINT TO BE HAD
BY MODIFICATION OF THE LAWS
THE TARIFF AND COMBINES
Thinks II Unlikely That the Annexation
Resolution Will Be Acted on
During This Session OF
Congress-.
Congress-.
New York Journal.)

The Republican Secretary of State ar
rived in this city from Washington at
10 o'clock this evening. He registered
at the Fifth Avenue Hotel.
In the course of a conversation IN re-
gard to the popular condemnation of
trusts and monopolies, Secretary Sher-
man said:
TRUSTS are altogether the most inn
portant question of the day. 1t is claim
ed by those who form them that the
effect of their operation is to lower
prices, but don't think so. In my opln-
ion trusts should be vigorously restrain
ed. The present tendency of business
is toward combination, to control prices
and output.
The Western Union Company is case
in point. 1t virtually controls all of one
kind of business. In like manner COM
binations are made in all kinds of indus
tries.
Trusts are wrong in principle, even
though they may lower prices, for they
prevent healthful competition. People
have an inalienable right to compete on
a just basis in every line of industry.
LAWS MUST BE CHANGED.
'The restraint of trusts will become eff
|
of law Against tremendous opposi-
ton, the Supreme Court of the United
States upheld the present ANTITRUST law,
but pointed out defects in it. The law
is not strong enough. | wrote the pres
ent law, but the judiciary Committee,
to which it was referred in the Sen
ate, made changes in it that greatly
weakened it.
20 la N al a.
tiOns in restraint of trade in the most
direct manner. They put into the hands
of few men the control of all indus
tries. Combinations seem on the face of
them fair enough, but there is no doubt
that they break competition and destroy
small establishments.
at is said that protective tariff fos-
tiers trusts. l controvert this statement.
Whenever trusts combine to control
prices the tariff law is made to defeat the
attempt. The people have right to
the competition of all the world. There
is justice in the prejudice in which trusts
are regarded. When a man makes
money on a fair basis no man envies
him his wealth, but when a man makes
fortune by the operation of a trust it
has always beeen denounced by all peo-
pie"
when is the prosperity which the Re-
publican party promised to the people
| last fall to dawn" Secretary Sherman
| was asked.
1.-THE tariff bill will become law some
| time between July and 10, in my
| opinion. 1t will raise enough money to
meet the expense of the government, re-
store confidence and cause the employ
ment of all the idle"
In regard to important matter now
pending in Congress, Secretary Sherman
| said Il doubt whether the Hawaiian
annexation treaty is acted upon at this
session of Congress. A treaty is ac-
complshed by two-thirds vote in the
Senate, annexation by vote of the
| majority of the Senate and the House.
do not think the annexation of Hawaii
would be a detriment to the japanese;
on the contrary, it would help them.
In my opinion a majority of the Senate
| is favorable to the annexation of Hawaii,
| but many of this majority do not hold
| the annexation of Cuba in similar ia
vor."
"Will the matter of finance be taken
up?"
mo, it will not. There is no one pre-
pared to decide the currency question.
1t will, however. be the chief issue in
1907
SIS it true that a new arbitration
treaty with England is being prepared?''
II must decline to discuss the matter.
1t is very delicate one and | am not
prepared to say anything about it,"