The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-17
CURBREgUlRED
MANY COMBINATIONS ARE OVER
sTEPPING LAWFUL BOUNDS.
Representative Ovcrstreet Sees Dam
ger I'm the Tendency of Trusts
to Destroy Competition.
FAvoRs FEDERAL CONTROL
THINKS CONSTITUTIONAL AMEND
MENT Is NECESSARY.
States PowerIess to Give Proper Re-
lief Unless the Restrictive statute.
of All Are Uniform.
SHOULD BE NO PREJUDICE
BOTH CORPORATIONS AND LABOR
HAVE ruETu nUCurS
Situation, However. Is Sufficiently
Grave to Justify the Best Effort to
Honestly Solve the Problem.
SPECIAL COMMITTEE NAMED
WHICH WILL CONSIDER THE CUES
TION AND FRAME A MEASURE.
Mr.. Overstreet a Member, and He
VIII Endeavor to Deal Fairly with
All the Interests Inv olved.
Special to the indianapolis Journal.

Special to the indianapolis Journal.
WASHINGTON, March 16.-Representa-
tive Jesse Overstreet, Of indianapolis, has
been honored with a place on the special
trust subcommittee of the House commit
tee on judiciary. The other members are:
Messrs. Ray (Rep., n. ", Jenkins Rep.,
Wis.,, Littlefield Rep.. Me.). Terry Oem.,
Ark, Lanham Dem., Tex) and Elliott
(Dem., S. C.) This special committee will
consider all bills and resolutions relating to
trusts. On 1t also will devolve the delicate
and responsible duty of framing PROPOSE
tion for the regulation of trusts to which
the Republican Congress can subscribe
The members of the subcommittee are In
the main earnest, careful and conservative
men, who will give the subject their best
thought.
How MIR. Overstreet stands on the trust
question, which takes rank as one of the
leading issues of the day, that the
gold standard has been enacted into law
will be seen by the following statement
prepared by him this afternoon at the re-
quest of the Journal. Mr.. Overstreet says:
"One OF the most important questions be-
fore Congress. if not the most important, is
the subject of trusts. While the subject
has been discussed in various ways,
through the press and in magazine articles.
there is apparently no settled conviction
either as to the origin, extent or remedy of
the evil Opinions differ widely on each
phase of the subject Even a definition of
trusts Is by no means agreed upon. Never
theless. the subject is of great Importance
and holds commanding position in the
thought of both legislatures and people.
HARMFUL COMBINATIONS.
"The mushroom growth of illegitimate
and fraudulent enterprises promoted by
skillful and adroit individuals who take
advantage of prosperous times in which
to foster their plans and impose up
on a credulous people seeking invest
ments. are not properly classed with
trusts. Such will fall OF their own
weight. Interest is centered rather in
those vast combinations of capital which
stifie competition by association under one
management OF a sufficient number of sim
liar enterprises, or, at large expense, ruin
their opponents by temporarily reducing
the price OF their product until they have
cleared the field of competitors Such or
ganizations thereafter become monopolies
and control the price of both the raw ma
terial and the product. The wage Garner
suffers both by reduction in wages, il not
a total loss OF employment, and by the in
creased prices Of articles controlled by the
monopolies.
aside from the direct injury to the wage
Garner a feeling of unrest and disturbance
In the public mind is occasioned because of
the injustice OF the system. We are not all
purchasers Of steel, oil or rubber but the
increase in prices Of these articles, oc h.
stoned largely by the ability of the monop-
olies to control such prices. creates a de-
cided suspicion in our minds that some
thing is wrong with the system which will
permit such control. No man can properly
complain because another is more success
full than he and accumulates money more
rapidly. and yet the fact that any enter
prise. like the great steel or oil enterprises.
will enable one or two individuals to amass
princely fortunes arouses the suspicion as
to whether such profits should not have
been more eauitably apportioned between
the wage Garner and the employer. and
more people benefited by the success of the
business. All of these things combine 10
put well-thinking people upon the inquiry
to sec IL some better adjustment cannot be
devised for the greatest good to the great
est number.
Naturally. the people look to Congress
and their legislatures for the remedy of
such evils. II is just at this point that the
question becomes most perplexing. Is the
subject one for the States in their individ-
ual capacities 10 control, or is 1t for Con-
sress 10 regulate? Congress acts under
powers conferred by the Constitution. and
the people have reserved TO themselves
such powers as they have not delegated 10
Congress through the Constitution. Tn
questionably the power to regulate the So
called trusts rests with Congress and the
people, but just what power Congress has
and just what power Congress has not up
on this subject Is greatly in dispute
STATE LAWS INADEQUATE.
Effort was made by federal action In
the so-ealled Sherman trust law of July .
1890. but that law does not seem TO have
proved sufficient. 1t is strongly urged and
with great force that the States have am
pie power. But State lines have been 50