The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1899-12-07

! fhafIfs Of Iha government NJ are do
lsg fhess things xlfh the neaas Al hand
Happily II TIE present time We ara not
compelled IL resort r. loans 70 sngHly
god Il has been dona IA the past. how
ever and may have 70 BE done IN the
+ future II nehooess aa therefore. To
provide Al once fhe best means 70 meat
! fha emergency when Il arises and the
+ 6ssi means ara thase ahI5h are the most
certain aud economical Those nov au=
+ thaHlxsa have The virtue. neither Of d.
rsefn-aa nor economy w have already
/ eliminated one - The causes 81 our
financial plight and en- barfasament dur
Ing fhs Ysara 1ss5 1ss8 1sab ard 1896.
eur receipts naR equal cur expandi-
tufes deficient revenues no longer
/ create alarm Let rs remove the only
remaining eaass ~ aenferring the fun
and necessary popef an the secretary Of
/ the treasury and lmFoss upon him the
/ duty Ia uphold The present gaid standard
ana preserve the coins n ths tso metals
i On a parity 18th each ofher which II the
j repeatedly declared policy II the United
| states
/ In thIs connection repeat ny former
/ recommendations tint portion u the
] geld holdings shall BE- placed IN a trust
! fund from which TresHbaeks shall be
i redeemed unon presentation but when
/ once redeemed shall not thereafter BE-
i pad cut except for gold.
TIE MERCHANT MARINE.
TIE value Of an American merchant
! marine 10 the extension Of our com
m.rHial trade and the strengthening OF
/ our power upon the sea invites the i'm
mediate action Of the congress. our
national development vii be sided
ard unsatisfactory SO long az the re-
maHkahie growth OF our inland Indus
tries r mains unaeeompaned by prog
ress an the seas There Is no lack of
constitutional authority for legislation
which shall give to the country maritime
strength commensurate with Its indus
trial achievements and with its rank
among the nations of the earth.
The past year has recorded excep-
tional activity in our shipyards and the
promises Of continual prosperity in
shiphuildIng are abundant. Advanced
legislation for the protection of our sea-
men has been enacted. Our coast trade,
under regulations wisely framed al the
beginning of the government and since.
shows results for the past fiscal year un-
equaled In our records OF those of any
other power. We shall fail to realize
our opportunities. however, if We com
placently regard only matters at home
and blind ourselves to the necessity of
securing our share in the valuable carry
Ing trade of the world.
Last year American vessels trans
ported a smaller share of our exports
and imports than during any former
year in all our history. and the measure
of our dependence upon foreign shipping
was painfully manifested to our people
The other great nations have not hest
tated to adopt the required means to de-
velop their shipping as a factor in ma
tional defense and as one of the surest
and speedest means Of obtaining for
their producers a share in foreign mar
kets. The expense is as nothing com
pared to the advantage to be achieved.
The establishment of our merchant
marine involves in a Large measure our
continued industrial progress and the
extension Of our commercial triumphs.
THE CONTROL OF TRUSTS.
Combinations of capital organized
into trusts to control the conditions of
trade among our citizens are justly pro-
voking public discussion, and should
early claim the attention of the congress.
The Industrial commission, engaged IN
extended hearings upon the subject of
CON binations in restraint of trade and
competition, have not yet completed
their investigation. The subject is ont
giving rise to many divergent views as
TO the extent of the injuries to the pub
lie which may result from large com
binations concentrating more or less
numerous enterprises and establish
ments. 1t is universally conceded that
combinations which engross or control
the market of any commodity necessary
to the general community by suppress
ing natural and ordinary competition
whereby prices are unduly enhanced To
the general consumer are obnoxious hot
only to the common law, but also To the
public welfare. There must be a remedy
for the evils involved in such organ I'd
tions. If the present law can be eN-
tended more certainly to control or check
these monopolies or trusts, 1t should b.
done without delay.
An act to protect trade and com
merce against unlawful restraints and
monopolies was passed by congress on
the End of July. 1890. The provisions of
this statute are comprehensive ard
stringent. 1t declares every contract
or combination, in the form of a trust
or otherwise, to be unlawful. 1t de
dominates as a criminal every person
who makes any such contract or engages
in any such combination or conspiracy
and provides a punishment by fine "a
Imprisonment. 1t invests the several
circuit courts of the United States Wit
Jurisdiction to prevent and restrain VIC
lations of the act. The act is aimed
every kind of combination in the natuIa
of trust or monopoly in restraint
Interstate or international commerce.
The prosecution by the United States
of offenses under the act of 1890 has been
frequently resorted to in the fedora.
courts. and notable efforts in the re-
straint of interstate commerce such as
the Trans Missouri Freight association
and the Joint Traffic association have
been successfully opposed and sup
| pressed
President Cleveland in his annual mes
sage of Dec. I. 1896. after stating the
evils of these trust combinations. says:
Though congress has attempted to deal
| with this matter by legislation. the laws
| passed for that purpose thus far have
proved ineffective not because of any