The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-13
Observation-Disclosures,
.NTI.TRUST LEGISLATION.
\ ..,sI Article Prepared for the North Amer |:
4 0p. ,.sr Review by Gov. Sayers of Texas. :

uoneu In the act. by any Individual COM
pahy or CORPORATION transacting business con-
trary TO the provisions of the ACT, WITHIN this
state or elsewhere. is declared to be unlaw-
lui. and contrary to public policy. The pur-
s,,sS 9i any article or commodity from any
such OFFENDING individual company or cor
poration is relieved OF liability for the price
or payment thereof. and may plead the act
as defense to any suit for the price or pay
ment. whether the purchase was made di-
rectly from the individual, company or cor
poration, or indirectly from an agent. repre-
sentative. solicitor or canvasser. and II any
money or other thing Of value is paid IN
such transaction the person paving the
same NAV recover back the amount of the
money or the value of the thing so paid
II is made the duty of the attorney general
aud of the district and county attorneys. to
enforce the provisions of the act Suits in
stituted under 1t have precedence of all other
torney receives COMPENSATION of one-fourth
of the penalty collected
In order TO insure, If possible, complete
compliance with the act. the secretary Of
state is REQUIRED, on or about the first day of
July OF each year or at such times rs he
shall deem necessary, to address to the pres-
dent. secretary or treasurer Of each corpora
ton doing business In the State q letter of
inquiry as to whether such corporation has
all or any part of Its business or interest in
or with any trust combination or associa-
ton of persons or stockholders as named in
the act and TO REQUIRE an answer under oath
from such president secretary or treasurer.
or from any director OF the company Ac-
companying the letter OF inquiry will be a
form of affidavit TO be made. which covers
carefully and minutelv every proposition in
yolved in the act The law takes effect on
January 81 1900
1t will be observed that the measure under
consideration is altogether impartial in It's
no explanation that its meaning may be
n nd lie Ian lie MIA nd
clear. Comprehensive, far-reachinG and
drastic, it undertakes TO deal with all alike
not discriminating as to individuals. partner
ships. associations. corporations. or trusts.
nor favoring any character of pursuit or bust
ness. Its denunciations and its penalties fall
equally upon all--the resident and the non
resident, the local and the foreign. ANY as
saut that may be attempted on its validity.
cannot be predicated upon the ground that it
obnoxious in this respect to any provision of
the Federal constitution or Of the organic
law of the State.
The important questions in the considera-
tion of the matter are, first; Do the condi-
tons in which the country is involved warrant
the enactment of such legislation? and. sec
on6ly: Is 1t possible through the method
adopted to accomplish the purpose in view?
1t can not be. denied that the trusts al
ready. created are many and strong.
and that they have been and are CON
tinualy being formed for almost every con-
ceivable object Very rarely does the press
of some new trust of great proportions Their
number and magnitude are almost inconceiv-
able. There appears to be no limit to the
unwon:ed activity in this direction Indus
tries of every kind are rapidly losing their
individuality and are permitting themselves
to be absorbed by enterprises of IKE char
acter. all being operated and controlled by
one central authority. Competition is fast
ceaslng to be a factor in the economics of
the country. Heretofore, we have been taught
to believe that it was the life OF trade. Now
L. I,-s,n ,N,,t 40 10
most gnevous error and that the contrary
doctrine is the true theory The wisdom of
the fathers has become foolishness IN the
eyes of their sons. and the experience OF cen
turtles has proven of no value, EXCEPT, per-
haps to demonstrate that commerce and man
ufacture have hitherto been conducted upon
lines that were altogether false and mislead-
ing.
1t has been asserted by some. who claim
themselves qualified to speak upon the sub
ject, that trusts, as operated in the United
States, are not harmful. and that they are
but the outgrowth OF an evolution in in-
dustrial life that is natural, heaithfui ana
necessary. on the other hand. it is insisted
and l think rightfully. that they are in
great measure if not entirely, due to vicious
legislation--to the policy of the Federal gov
eminent in the matter Of currency and taxa
Of corporations. A high protective tariff.
which excludes-foreign competition, ana a
single gold standard, which limits the VOL
ume of currency and enhances the Vaiue Vi
that in circulation, supplemented pv the sass
formation of corporations under stats author
ity are the potent observation-disclosures upon
which the trust depends for Its existence u;
under the trust-reign. the industries OF lne
country be passing into the hands OF the rev,
If the products of other lands be so heaVilS
taxed as to be. in great measure, denied en-
trance into our ports, ana our people Do
thereby compelled to buy and use only those
manufactured at home II the cost of pro-
duction and distribution is being reduced 10
the minimum. ii the output is peine SO req ,
ulated as not to exceed gwen a ,pe t1ust
clusively, if the small dealers are being put
under duress as to those from whom aha a., a.
TO what they NAV buy. and as 10 now nv
may sell if individual effort he no longer
able Ia compete successfully with corporate
power and corporate advantage, i youne any
weak industries are being strangied 10 death
and the establishment of new and indepenasn.
enternrises prevented. it can not be doubted
that for this untoward and unhealthy conal-
ton of industrial and commercial lie ,esiSI,
son Is II large to organize and
TO operate as for the last several years. we
result is certain that a more disastrous panlc
than has ever been known VIII sooner , or
later occur Much OF the stock issued by
these organizations is entirely fictitious and
does not represent real capital. Money lena.
ers will some dav refuse to recognine ~ 40
safe security. and then the storm WIZ n ,,,s
forth in ali It's fury. Under such oircum .
stances, what is the duty of sovernmeh,,,'
To II do trusts and corporations. either az,
rectly or indirectly. owe their being, ana
upon it. therefore. rests the obligatlmn 10
see to it that they its creatures. shaii not
harm the people.
II is reported that the attorney general OF
the United States has said that the Federal
government is helpless to wage snceesstui
warfare against the gigantic evils "hich
proceed from the trustpower, and that rehet
can only be had through the state govern
mentg. Congress can. IL it will, render ,he
most effective and substantial assistance. LEI
4, reverse the present policy as to the cur
=, Fancy and the tariff putting the two metals
no, on entire equality and providing IoI u
sairar and more general distribution OF the
currencv. and lowering the duties on imports
so that the productions OF other countr y, >
may compete with those controlled py uhs
trusts. This much congress can ana s r,o.,,,
do In the meantime let the States peiiorH
their duty. aaas, n confer-
I have lately assumed to suggest eonsr,
ance NJ the governors and attorneys genera
CO II, he states and Territories. without sA-
oan ai 10 consider the subject. and II p1s-
sibIe. TO devise and unite UPON suun .roysr
iation as would overthrow the trusI,po"eIr
and prevent its revival in TINS n' and