Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1899-12-09


the secretary OF the treasury and i'm
pose upon him the duty to uphold the
present gold standard. and preserve
the coins of the two metals on a
parity with each other. which is the
repeatedly declared policy Of the UNI
ted States.
In this connection repeat my for
mer recommendations that portion OF /
the gold holdings shall be placed in a |
trust fund from which greenbacks
shall be redeemed upon presentation, |
but when once redeemed shall not |
thereafter be paid out except for gold |
Value of n Mevchant Marine.
The value of an American merchant
marine TO the extension of our COM
mercial trade and the strengthening
uf our power upon the sea invites the
/ immediate action of the congress Our
national development will be one
SIDED and unsatisfactory so long as the
remarkable growth 0f our inland In
d&stries remains unaccompanied by
i progress on the seas. There is no
lack OF constitutional authority for
legislation which SKILL give to the
| country maritime strength common
surz7e with its industrial achievements
and with it's rank AIMING the nations
| OF the earth. The past year has re-
yards and the promises of continual
prosperity in shipbuilding are abund-
ant. Advanced legislation for the pro-
lection OF our seamen has been en-
acted. Our coast trade. under regula-
tions wisely framed at the beginning
OF the government and since. shows re-
suits for the past fiscal year unequal
ed In our records OF those 1G any other
power. We shall fail to realize our
|
| PLEASANTLY regard only matters at
home and blind ourselves to The neces-
sity of securing our share in the val
liable carrying trade Of the world.
Chapter on Trusts.
Combinations OF capital organized
into trusts to control the conditions OF
trade among our citizens, to stifie COM
petition. limit production and deter
mine the prices Of products used and
consumed by the people are justly
provoking public discussion, and
shonld early claim the attention OF
the congress.
The Industrial commission, created
by the act of the congress OF June IS.
T | 1898. has been engaged in extended
{ ! hearings upon the disputed questions
involved IN the subject of combina-
! l'tions in restraint OF trade and COM
! petition. They have not yet completed
e their investigation of this subject. and
: the conclusions and recommendations
= at which they may arrive are unde-
' termfned
1t is universally conceded that com
y binations which engross or control the
e market Of any particular kind of mer.
: chandise or commodity necessary tc
e the general community by suppress
D ing natural and ordinary competition
/. whereby prices are unduiy enhanced
= to the general consumer are obnoxious
= not only 10 the common law. but also
e 20 the public welfare. There must bI
!, a remedy for tho evils evolved in sucf
y organizations. IL the present law car
e be extended more certainly to con
: troll or check these monopoIies OF
r trusts 1t should be done without delay
: Whatever power the congress pos
e sesses over this most important sub
g ject should be promptly ascertainet
S and asserted.
IS President Harrison's message o
l. Dec. 3. 1889, is then quoted, and Presi
re dent Mckinley proceeds:
An act to protect trade and com
II merce against unlawful restraints an
ut monopolies was passed by congress o.
ID the I'd OF July. 1890. The provision
- OF this statute are comprehensive an
W stringent 1t declares every contraC
- or combination, in the form OF a trus
st OF otherwise. of conspiracy in the re
Of | straint of trade or commerce anon
&c the several states or with foreign ns
er tions TO be unlawful. 1t denominate
he as a criminal every person who make
SIS any such contract or engages in an
ed such combination or conspiracy, an
n provides punishment by fine or In
prisonment II further confers upo
al any person who shall be injured in h
n business or property by any other pc
ul son or corporation by reason OF an.
I'm | thing forbidden or declared to be III
n lawful by the act the power to 81
II therefor in any circuit court of Il
gh | United States without respect to Il
re- amount in controversy. and to recov
oh threefold the damages by him su
he tanned and the costs of the suit. inclu
or ing reasonable attorney fees. 1t W
be be perceived that the act is aimed
lie every kind of combination IN the n
ture of a trust or monopoly in 7
Ct straint of interstate or information
er, commerce.
her The chapter on trusts closes with
IAN quotation from the message of Pre-
act ident Cleveland of Dec. Z. 1896. decls
GU ing the laws passed for their supprt
i've sion ineffective President McKinl
rye then urges uniformity of legislation
zed the part Of the several states. 1
}. message proceeds
up Our Foreign Relations
+hS A review of our relations with Fl
ar leigh states is presented with such r
81, concentrations as are deemed APPROX
go | ate.
go The long pending boundary disp
ion e,.t,,5 =, HS,.eS' Ia-t h,,
Iuty lila of Ok, arr,+-oI conaroiss,o1
en- 49, tI,o Irn;ted Sto+es n,;n;star
ms Buenos Ayres served as umpire.
nc Progress has been made toward
= 70 conclusion of a convention of extra
> as ton with the Argentine Republic II
oulu ing been advised and consented to
'WeI the United States senate and ratified
IL Argentina. it only awaits the adj
.OIn- | - ilrht hnr In.