The people's journal. (Pickens, S.C.) 1891-1903, 1899-12-14

widespread confidence that gold seeks
the treasury demanding paper money
In exchange, yet the very situation
| points to tho present as the mos,
hitting time to make ade quate provision
to insure the continuance OF the gold
standard and Of public confidence in
theyability and purpose OF the govern.
ment to meet all Of its obligations ia
the money which the civilized world
recognizes as the best. The financial
TRANSACTIONS of the government are con-
ducied ;upon.a gold basis. We receive
gold. when we sell United States bonds
and use gold for their payment. We
are maintaining the parity Of all the
moneys issued or coined by the au-
thorlty Of the. governments. We are
doing these things with the means at
hand. Hhppily ut the present time VT
aro.not compelled 10 resort to loans to
supply gold. 1t has been done in the
past. howGyer, and may have to be
done In The future. 1t behooves us,
tbefefere;, TO provide at once the best
means to meet the emergency when it
arises and the .best means are those
which are the most certain and econ
ont1ta1, Those now authorized have the
virtue neither of directness nor econ.
0m5. We have already eliminated one
OF Tho cau.e OF our financial plight
and barrassment during the years
OF 1893, 1894, 1895 and 1886. Our re-
celpts now equal our expenditures de-
nclent revenue no longer creates
alarm. het. US remove the; only re.
naming. cause. Ryy conferring the full
necessary power upon the secretary of
the treasury and impose upon the dutv
to uphold the present gold standard
and preserve the coins of the two
metals on parity with each other
which is the repeatedly declared
policy OF the United States.
In thts connection, l repeat my form
er recom neh iatlons, that a portion of
the gold ho33iAngs shall.be placed in a
trust. fund.- from. which greonbacks
shall De re deemed upon presentation.
put when once redeemed shall not
thereafter be paid out except for gold.
DENOUNcEs THE TRUSTS.
Gym binatioDs of capital organized
lgtD trusts to control the conditions of
trade among. our. citizens, TO s.iila
etl.!on,' limit production and de-.
termlne the prices of products, used
and consumed by the people, ora 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 hearinps
upon the disputed question involved
In the subject Of com binatit)no III, re.
stralpt Ql trade AMI cempetipn. They
h9ys: pot yet|oompleted;their investi.
gaMofi Of this subject, and the conclu-
sion and RECOMMENDATIONS at which
they may. arrive ARE undetermined.
The subject is one giving .rise to many
yiews 5as to the %naturei and
variety or cause and extent Of the In
luries to the public which may result
from large combinations 'copcentrat-
ing moro or less numerous enterprfaes
and establishments which previous to
the formation were carried separate
ly.
1t is universally conceded that COM
binations which engross or control the
market:of any particular kind OF mer-
chandise or commodity necessary to
the general community, by suppress-
Ing natural and ordinary competition,
whereby prices are unduly enhanced
10 the general consumer, are obnoxious
not only 10 the common law, but also
d remedy Tor the evils involved In such
If the present law can
be extended moro certainly to control
or check these monopolies or trusts.
1t should be done without delay. What.
ever power the Congress poer csses
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 consideration OF tho
question how far the restraint OF those
com mnlnatlons OF capital commonly
called trusts Is matter of Federal
Jurisdiction. When organized, as they
Qiten are, 20 crush out all healthy
competition and to mouOpolize the pro
duction Or sole pf:ah sapticie. Of CON.
mei4emnds gehefals III ecessity, they are
pasiio good; sa SsfSSd i@s"lnas ba made the the
S5SBje1et vj 1s,,oa q BFoffRttofy: and even ponal
An act to- protect trade and COM
merce aeaiaat sup lawful restraints and
monopolies ~ab ;basscd BY: Congress- on
the I'd of JWfy; IL 800; The PROVISIONS Of
this .statate.I Iare com pfeheG5ive and
stringent" Vt declares every contract
OF combfpatfOnrv In :the form of trust
or'oeherwise, Or conspiracy in the re-
streipt OF trade or. cQmmeres among
the $eyerhE States Or with foreign ma.
.tt0ns, to be unlawful. II denominates
as:a'crinftnal every person who MAKES
ahY, such contract or engages in any
:provideas'a q punishment by.fine: or % i'm.
prisonment. 1t ipNests the several cir
cult courts of the United States with
jurisdiction to prevent and restrain
vlolations Of the act, and makes it'the
a9ty q{ tEssaeYerat u United States dis.
~, tSlcC attorneys, under the direction OF
.oa,aaai;atarney general, to institute pro.
ote9u,ings ~ IN equity to prevent and re-
fSse "sHcn violations. It. further con-
iorsS ioEs 9PEn im ;t,y any person who shall be in
s%,'a snu othe; ~ niS business or property by
~oSaol coy I'nyr 1of Pefson or. corporation by
.clarsd Hasea 'tl % hSnyentng forbidden or de-.
power TO sue therefor in >snv CIV "ironi, ,do
courat;of the United States without 10
eepect'to the amount an coritrovarsv ana
TO recover three;fold the damaoeo' ~ ~,