The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1902-07-15
1,TrERs OF NATIONAL IMPORTANCE.
s.vsral Newsy Matters Reported by Our
Washington Correspondent.

The subject of paramount interest
among the politicians in Washington
during the past week has been the
Presidents utterance on the subject
of the trusts, delivered at Pittsburg,
and the alleged statement that Repre-
sentative Littlefeld of Maine has
been chosen to draft an antitrust law
to be pushed at the next session of
Congress. Generally speaking, the
/ Republicans are pleased with Mr..
RoOsevelt's statement and are ready
to furnish the most positive assur-
snces of his honesty and sincerity of
purpose. The Democrats, on the other
hand, claim that he is not sincere and
that his statement is for political eff
feet.
ANTITRUST LEGISLATION.
In view of the generally accredited
announcement that Mr.. Littlefeld,
who is the successor of the late Mel
son Dingley in Congress and a com
paratively young member of the ma
tiOnal legislature, has been chosen to
draft the proposed law, a synopsis of
8 bill introduced by him during the
early hours of the Fifty-Seventh Con-
gress is of interest. Mr.. Littlefeld's
bill, known as "H. r. No. 3" was re-
ferred to the judiciary committee but
received, SO far as known, no further
consideration. 1t is said to have been
framed after consultation with the
President and to have met with his
approval. Briefly put, it declares that
the formation of a trust with a view
to restraining trade shall be deemed a
crime punishable by a fine of not less
than $500 and not more than $4,000
and by Imprisonment for not less than
six months and not more than 2 years.
1t provides that every person who
shall attempt to ~monopoiize or COM
bine or conspire with others to monop-
Ollie any part of the trade or COM
merce within the several States, or
with foreign nations, shall be liable
to the penalties above stated, and that
any railroad or transportation COM
pany which shall transport goods for
any trust, as defined in the act, shall
be liable to the fines above stated and
any officer or agent acting for such
transportation company shall be liable
to both penalties above stated. 1t
further provides that any person who
believes his business to have been in
jured by a trust may bring suit under
the act and that no person or COM
bination shall be exempt from produc-
ing their books and papers on de-
mand of the court. Whether the law
which Mr.. Littlefeld will draft this
summer will be similar to the above
is not known but it is presumable that
the law outlined fairly represents his
views.
PREPARING FOR THE IsTHMIAN CANAL
The energy with which the Depart
ment of State and the Department
of Justice are working on the treaty
to be negotiated with Colombia and
on the title to the Panama canal have
resulted in considerable inquiry being
made at the Treasury Department in
regard to the popular loan of $780,
100000 authorized by the Spooner
Amendment. The law, as passed
leaves wide latitude to the Secretary
of the Treasury but provides that it
must be a popular loan which, being
Interpreted, means that it must be
open to all subscribers. AS there is
no likelihood that the loan will be
made in the immediate future, Secre-
tary Shaw, who is absent from Wash
ington, has not yet arranged the de-
tails but will doubtless do so in the
near future. The law provides that
the $4~O,OOO,OOO to be paid to the
French company for their property
shall be paid from funds in the Treas
ury and that the initial 100000
for beginning work on the canal shall
be taken from the same source, but,
as the ratification of the treaty be-
tween Colombia and the United States
viii probably be Immediately followed
BY the payment to the Colombian gov
eminent of 100000 the necessity
for the bond issue will arise almost
spontaneously with the completion of
the treaty and the v~eriicatiOn of the
title. As the rate of interest is very
low, only 2 per cent, it is not