The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-29
LAW ENOUGH FOR TRUSTS.
MIR. Lockwood Thinks Further Legis-
IatiOn tx Unnecessary.

TERRY, Tex, Dec. 2S.-M. l.. Lockwood,
of Zelienople, Pa, president of the Ameri-
can Antitrust League, has given out a
statement in which he criticises at length
the recommendations made by President
Roosevelt for a national law governing
trade combinations. Mr.. Lockwood con-
tends that there is no necessity for any
further legislation on the subject; that
the rigid enforcement of the Sherman anti
trust law would be sufficient to effectually
suppress and restrain hurtful trade and
industrial combinations. He then says:
Doesn't everyone know that these indus
trial combinations destroyed competition,
have created monopoly and are now rob-
bling the American people of hundreds of
millions of dollars annually to pay divi-
bends on billions of watered stock and
that some of these dividends are As per
cent. annually for water and all? What
more publicity does he want?'
He alleges that the foundation of all
the vast fortunes which have been built
up In trade and manufacturing are rail-
road rebates and determinations and re-
fers to the close of the discussion of the
matter in the message in which the Pres
ident says that Congress can profit by
the experience gained by the passage of
the Interstate law" wisely enact such a
law as he recommends. Mr.. Lockwood
says: In 1873 the Independent oil produc-
ers of Pennsylvania began agitation for
the passage of the interstate commerce
law. We had in the lower house of Con-
gress John II. Reagan, of Texas. For
nearly eight years we circulated petitions.
Reagan finally secured its passage through
the House in such form as to cure the
evils of railway discrimination, that it
was crippled by the Cullom amendments
in the Senate so that twenty odd years
afterward the chairman of the Interstate
commerce Commission testified that every
discrimination is universal"
T 1 ORlx oil hot
just what is recommended in the message
and that their attorneys advocated it be-
fore the Civic Federation conference. He
says: why is il that these attorneys
want to transfer this question to the seat
of the national government? The answer
is that they want TO get just as far away
from the people who are being hurt as
possible. They know that the atmosphere
is a great deal different on that question
in the Capitol Hobbies and in the hotel
Hobbies of Washington than it is in the
States. And would 1t not be we'll for the
President who has sworn TO enforce the
laws, TO have his attorney general begin
proceedings in earnest under the provisions
of the Sherman antitrust law against these
trusts and monOpOlies and against these
illegal railway combines before he asks
for any further federal legislation on the
subject? If he will see that the laws are
faithfully. enforced against these trusts
that have paralyzed all capital except that
which is willing TO go into the conspiracy
and Will maintain equal rights TO every
American citizen over the highways of the
land in the transportation of their products.
he will be surprised 10 see what a multi
tude of captains of industry will spring
up ready TO give the consumers Of America
their necessities at competitive prices. at
8 per cent. profit upon the actual capital
invested. For l say to him that these
captains of industry upon whom he relies
do not own a monopoly of business brains,
energy and producing force of this people.
Let him grant equal rights and equal OPP
portunities and the American people will
take care of the trade of the world; neither
will they ask the people at home TO pay
for necessities ten times the price at which
they are willing to sell the same goods in
foreign countries.
He criticises the recent conference of la
Dor and capital at New York. and says:
They have created a kind of supreme
court and have made Senator Hanna chief
justice thereof; they have set up a kind
of government inside of and independent
of the regular government of the people"