The times. [volume] (Richmond, Va.) 1890-1903, 1899-05-07


tor Hoar said:
when our railroad and manufacturing
corporations were inaugurated, we set an
example as Massachusetts, has always
done. 20 mankind. by devising checks and
safetes and securities with regard 20
these great forces. but tho difficulty
comes now from tho increased Intercourse
between states, between this nation and
foreign nations. Time and space arc be-
ing annihilated. The manufacture in
Lowell has for his competitor and ousi-
ness neighhor "a manufactures I'm Georgia,
or i'm California. or Indiana. Wherever
there IS any business Of this kind bee
tween two States. or with foreign coun-
tries tho state Us powerioss. for If You
deny % any men the privilege Of hecom-
ing n Massachusetts, corporation, they 90
TO New Jersey and get what they want
without any difficulty AS far as the IN
tornat0nal business IS concerned, the
States have no restraining power and the
matter must be dealt with by Congress.
So we have fOr some kinds Of business
two separate legislative powers, national,
so far as the corporation is dealing with
interstate commerce. and the state leeis-
latiye power, as far as tho business il
local.
Now that difficulty has prevented ac-
ton, so far as any effective ways Of deal
ing with these trusts arc concerned. and
the danger is that they viii be attacked
IS an unwise unsafe. socialstic, iaw.ess
temper. that II they are destroyed or re-
strained they will be so destroyed or re-
strained that all invested property. all the
accumulated savings OF labor all credit,
will perish az the same time. 10 is this
problem 10 which the craftsmanship OF
the future IN the country must DO direct
ed. ] think we can find that we have n
power in the national arsenal which can
be used 20 accomplish such wholesome
and necessary restraints as we may md
expediont. and that that power can be
welded by tho political party now in
power I'm the State and I'm tho nation
without anything which goes too far. j
suppose that no one doubts the neco IT.
and wisdom Of these great combinations,
as far as they have been found useful for
the transportation business OF the co1n-
try Nobody doubts that 90 is for the
public benefit that the Ney York Cen-
tral Railroad is under one corporation n-
stead OF the seven which formerly carried
on business across tho State. AZ the
same time. we look with anxiety upon the
humiliation Of tho principle OF compf-
titi0n as a stimulus and security I'D
American manufacture.
'NOW. while Congress cannot make any
previous stipulation that shall control ln
the least the business Of any manuiactur-
or. whether alone or in combination WIN
others. so far rs Il IS carried on WITHIN
tho boundaries OF his own state. Con-
gress may. IN my judgment impose sucn
conditions as a. shall SEQ ht upon carry
ing on business by such combinations IN
Interstate or international commerce
and one OF those conditions may ue tnat
no business. with such exceptions az may
seem reasonable. such as railroads, trans
p0rtation companies and perhaps banks
and other companies OF that KIND snah
be carried on between different states. mr.
between the nation and foreign countries
whore the man who carries ~ on mas inc
privilege and facilities nj corporate pow
ers. without individual liability. except IN
compliance with and I'm conformity WIN
such conditions as the national legislative
mower shall prescribe What tnose con-
ditf0ns or stipulatiOns ought 20 M no man
can state I'm n moment or In an nour' nu.
constitutional power 20 deal WIN wa.
question. without a general attack upoH
all pronertv and all manufacturing nli'I-
ests and all proper facilities for cono'.ia-
tom. and All exemption from personal ma
bilitv 7 think Congress does possess aho
that Congress will provide a way 10 uedi
with the problem 80 that we shall eso'pe
tho dangers which some or us ahu''P'''