The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1899-07-11
SENATOR CARTER ON TRUSTS.

IDENTIFY given the subject much thought
said:
"Undoubtedly the question of trusts
will be the subject Of most serious
consideration hencoforth until just anf
proper measures shall have been de-
vised for proper limitations and effect
i've control Of the combination known
as a trust. The questions presented
are more p%erplexing than one would
suppose at first sight. As usual, we
have a large number of tippant persons
with drastic remedies ready for instant
application and the authors are al.
ways prepared to guarantee u cure.
But recently the state of Arkansas
launched forth with great confidence to
destroy trusts. A sweeping law was
quickly PASSED which, when put to the
test, was found more far reaching than
it's makers and trainers intended. By
it's terms all organizations among Ia
borers were declared as being a comb.
nation tending to enhance the price of
a days labor. This one of many in.
stances illustrates the need Of mature
thought and great caution in the mat.
ter of injecting a law into the course Of
business operations. In certain lines
combinations of capiatl are absolutely
essential to the proper prosecution Of
the great business enterprises of the
age. This is particularly true with
refernece to transportation. 1t is much
better for the general public TO have
one continuous line of railway between
here and St. Paul under uniform man
agement than to have half u dozen rom.
panies and as many changes Of cars in
travelling 1000 miles.
1.-The large combination Of capital
becomes Objectionable when it invades
the legitimate domain of individual
effort. By virtue of such invasion the
great middle class of people which
forms the true and solid basis Of the
nations strength would in course Of
time be crushed out Of existence and we
would become Il nation controlled by a
few capitalists and their paid servants.
The name Of preventing such a cal.
amity challenges the attention Of the
country today and as never before.
The people look to the state legislatures
and to congress for appropriate action.
There are forty.five state legislatures
and it is quite obvious that uniform
legislation by that many Legislative as.
semblies will be quite impossible. This
leads US to inquire as to the power Of
congress to deal with the situation.
This power is limited. Our federal
constitution was framed by represent.
atives Of thirteen small colonies, each
jealous of its power and all of them
10th to surrender the power they
possessed to the new federal govern.
ment. The doctrine of states rights
was genearlly entertained and only
such powers were delegated to the fed
eral government as were absolutely es-
sential to it's practical operation. The
trainers of the constitution did not
lrnam 1f Observation-Disclosures, ,o1;,r,I,
nor had they the remotest thought of
the Telegraph OR telephone. The prac-
tical destruction of space and the CON
sequent uniting of the country they did
not prepare for, They gave to the
federal government the right to regu-
late between the states, but
that was a power merely controlling
transportation,
1T Is apparent to my mind that the
federal constitution must be amended
so as to give congress the constitutional
right to regulate and control corpora,
tions doing business in more than one
hlale, regardless or the state in which
the incorporated company was formed.
This would enable congress to use the
taxing power and likewise to fix indi-
vidnal liability Oh all the stockholders
for all the debts OF the corporation.
The law should further provide that
the persons who signed or assisted in
the circulation of ally prospectus in
tending TO promote a scheme for col
poFate organization should be- indi,
vidually liable Tor all injury or dam
age which might result to any person
IN consequence OF any false representa-,
tioa made, Again, when tho stock Of
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