The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1899-12-13
THE PRESIDENTS MESSAGE.
The GOLD STANDARD SUPPORTED.
"DOWN WITH The TRUSTS -
Great Stress Laid the Retention of the
Philippines-Oub and Porto Rico Must
Have Stable Governments.

doing these things with the means
hand. Happily at the present time W
are not compelled 10 resort to loans
supply gold. 1t has been done in tn
past, however, and may have to b
done In the future. 1t behooves III
therefore, to provide at once the bes
means to meet the emergency when
arises and the best means are thos
which are the mOet certain and eCor
omical. Those now authorized have tn
virtue neither of directness nor econ
omy. We have already eliminated on
OF The causes OF our financial pligh
and Embarrassment during the year
| OF 1903, 1894, 1895 and 1896. Our re
ceipts now equal our expenditures =; de
! ficient revenue no longer create
alarm. Let us remove the only re
naming cause by comforting the full
necessary power upon the secretary OF
the treasury and impose upon the duty
to uphold the present gold standari
aud preserve the coins OF tho two
metals on parity with each other
which Is the repeatedly declared
policy OF the United States.
In this connection, repeat my form.
er recommen iations, that portion OF
the gold holdings shall be placed in q
trust fund from which greenbacks
shall be redeemed upon presen tation,
but when once redeemed shall not
thereafter be paid out except for gold.
DENoUNCES THE TRUSTS.
Combinations of capital organized
1nto trusts to control the conditions OF
trade among our citizens, to stifle
competition, limit production and de.
termlne the prices OF products used
and consumed by the people, are Justly
provoking public discussion and should
early claim the attention of the Con-
gress.
The industrial commission created
by the act OF Congress OF June 18, 1898,
has been engaged in extended hearings
upon the disputed question involved
In the subject OF com mbination in re-
straint of trade and competition. They
nave not yet completed their investi-
cation of this subject, and tho conclu-
sion and recommend ations at which
they may arrive are undetermined.
The subject Is one giving rise to many
divergent views as to the nature and
variety or cause and extent of the In
juries to the public which may result
from large combinations concentrat-
INT more or less numerous enterprises
and establishments which previous to
the formation were carried separate
ly.
1t is universally conceded that COM
olnations which engross or control the
market OF any particular kind of mer-
chandlse or commodity necessary to
the genera. community, by suppress
Ing natural and ordinary competition,
whereby prices are unduly enhanced
to the general consumer, are obnoxious
not only to the common law, but also
to the public welfare. There must be
q remedy for the evils involved In such
organizations. II the present law can
be extended more certainly to control
or check these monopolies or trusts.
1t should be done without delay. What.
over power the Congress possesses
over this most important subject should
be promptly ascertained and asserted.
President Harrison, in his annual
message OF December 3, 1889, says:
Earnest attention should be given
by Congress to confederation OF the
q question how far tho restraint Of those
OF capital commonly
called trusts Is matter OF Federal
Jurisdiction. When organized, as thew
often are, to crush out all healthy
and to mouopolize the pro-
duction or sale OF sn article OF COM
merce and general necessity, they are
dangerous conspiracies against tho
public good, and should be made the
subject of prohibitory and even penal
legislation"
An act to protect trade and COM
merce against unlawful restraints and
monopolies WAS passed. by Congress on
the I'd OF July, 1890. The provisions of
this statute are comprehensive and
stringent. 1t declares every contract
or combination, in the form OF q trust
or otherwise, or conspiracy In the re-
stralnt OF trade or commerce among
the several States or with foreign ma.
tions, to be unlawful. It denominates
as criminal every person who makes
any such contract or engages In any
such combination or conspiracy, and
provides q punishment by fine or i'm.
prisonment. 1t invests the several cir
cult courts of the United States with
Jurisdiction to prevent and restrain
violations OF the act, and makes 1t the
duty OF tho several United States dis
trlct attorneys, under the direction of
the attorney general, to institute pro.
ceedings In equity to prevent and re-
strain such violations. 1t further con-
ters upon any person who shall be In
jured In his business or property by
any other person or corporation by
reason OF anything forbidden or de.
clared to be unlawful by the act the
po"Oi w quo buoFolOr LII any ClrCnlL
court OF the United States without re
Bpect to the amount in controversy and
to recover three.fold the damages by
him sustained and the costs of the suit,
including reasonable attorney fees. Ii
will be perceived that the act is aimed
at every kind OF combination In the
nature OF o trust of monopoly in re.
straint OF interstate or international
com merce.
Prosecution by the United States ol
offenses under the act OF 1890 has beer
frequently resorted to In the Fedora
courts, and notable efforts In the re-
straint OF interstate commerce, sucf
as the trans Missouri Freight sssocia
tion and the Joint Traffic associate
have been successfully opposed ant
| suppressed.
President Cleveland In hiU annua
| message OF December 2, l898-mor,
than six years subsequent to tho On
actment of this lsw--after stating tn
evils of the trust com binations SAYS:
| Though Congress has attempted t
deal with this matter by legislatior
tho laws passed for tho purpose thu
far have proved ineffective, not bc
cause OF any lack of disposition or at
tempt to enforce them, but simply be
cause the laws themselves rs inter
preted by the courts do not reach tn
difficulty. II the insuficiencies Of o,
listing laws can be remedled by furthe