The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-09

clude corporations and associations exist
ing under or authorized by the laws OF
either the mite States, or the laws OF
any Of the Territories, or the laws or any
State, or the lawssof any foreign country.
This language is quite far-reaching. and
is certainly drastic. Under IL no trust OF
the original type has ever for a moment
presumed TO live. They went out Of bust
ness, every last one of them. and they went
instanter. 1t cured the entire evil as II
then existed, with the exception that IL left
untouched the disposition, which has exist
ed In the human breast for some centuries,
TO escape competition whenever possible.
This disposition has led to new methods for
accomplishing the same results.
The Sherman act had not been on the
statute books very long when some one con-
celved the idea that a great corporation
could be organized which should own more
than one concern, or plant. or factory. On-
der this method competitors sell TO large
corporations created for the purpose. usu-
ally taking stock in the new organization
sufficient to cover the price agreed upon
for the plant sold. This method continues
at the present time.
1t will be readily seen. I think, that the
present method is more difficult TO reach
than the former. Men are permitted 10 own
two farms-to operate one and TO keep the
other idle. They are permitted to own TWO
coal mines-to operate one or both as they
please. Shall they not be permitted TO own
two grist mills or wooden mills. and operate
one or all as they please: and IL not where
shall the limit be placed? 1 say this sim
ply to suggest that the way is difficult, not
to suggest that it is impossible.
This Sherman act was passed July z, lSp.
On March 4, 1898, the hitherto minority
party came into control. Their platform de-
clared specifically against trusts and prom
iSed additional laws for their remedy. But,
as | have suggested, Ii is easier to draft
resolutions for political conventions than it
is to draft laws for statute books. That
Democratic Congress convened in special
session Immediately after the inauguration
of Mr.. Cleveland, remained in session an
summer, reconvened and went out OF exist
ence by lapse of time; and If any gen.
tleman present can point out a single pro-
vision or law, enacted by that Congress,
for the protection of the people against
trusts, combines and monopolies not al
ready contained i'm the Sherman antitrust
act, / will thank him to name the provis-
ion. That Congress simply re-enacted In
abbreviated form most of the important
provisions Of the Sherman law, and In very
nearly the identical language. 1 am glad
remains that the ablest, the broadcast
minded. the most conscientious men in the
Democratic party burned midnight oil be-
fore that John Sherman act and arose as
from their knees with the ejaculation: 1T
cannot be improved" / am not expressing
the opinion that 1t cannot be improved. /
only state that that was the conclusion
reached by the Democratic party.
A COMPLETE LAW.
Since the passage of that act twelve
years ago, more than 100 men, about
equally divided between the two great par
ties. have been elected to Congress and to
the United States Senate. And more than
vice that number have been defeated,
either in convention or at the polls, and
everyone of them has been ambitious and
every one has known that if he could add
paragraph. line, sentence, phrase or word
to the Sherman act to make it more drastic
or to render it more easy of enforcement,
his political fortunes were assured. And 1t
Is also safe to say that no one has falleo
to give the question most careful considera-
ton, Many of them made their .precon-
vention canvass on that issue, and prom
ised (but in very general terms. be 1t re-
marked) to promptly solve the trouble. But
not one of them. Of either party. has been
able to define the thing more speclncany
than John Sherman defined ii, and no one
Of all that number has been able thus far
to propose a remedy more effective than
the remedy contained in the act as 1t LETT
the pen of that old statesman. A few bllls
have been formulated. but they have prov
en- impractical. or already covered by the
Sherman act itself.
Even that great orator. who has twice led
the opposition forces in a national cam
paign. was himself four years in Congress;
but what he has said on the trust issue
since his retirement far exceeds all he did
on the trust subject while in Congress 1
do not say this unkindly. | have no doubt
that in sincerity and with the very best
ability he could muster he tried to find a
way to improve IL. But he found none and
proposes none now. 1t may be interesting
TO note some Things ne mas SalQ on the SUI
ject. On the 18th day of August, 1899, the
evening before the Democratic convention
in Iowa. he made a speech in the opera
house in Des Moines, from which l quote
81 say that the State cannot deal with
the trust because IL cannot fight beyond It's
the only force that can reach into all the
States and pluck thu evil wherever IL may
be found and annihilated." / am not quar-
reling with the proposition, though / do say
that If each State would annihllate the ey1
within its borders there would be nothing
left for the federal government to do in the
premises.
Then after advocating the enforcement OF
the law as 1t exists Mr.. Bryan added:
But, you say, suppose the attorney gen
eral does enforce the law. Let him recon-
mend a law hat is sufficient. 1t may bt
the Supreme Court will hold 1t unconstitu
tional. Then let him m a law tS
Congress that will empower that body Il
adequately deal with trusts"
From this l understand that he himself
recognizes his inability to suggest a better
law. He thinks the attorney general ough
that a law that would attempt to deal will
state corporations, unless they engage IL
interstate commerce. would be unconstitu
tional. Then he wants the attorney gen
eral to draft an amendment to the Constr
tuition. Mark you, he wants the attorney
general to do all this Why does he no
drafted a convention plank or two. / an
not criticising him. / am searching al
best L can Tor the kernel or DEFECT In tn
law, as it exists, and / make this quota
ton to show that the shrewdest politician
and the best orator of the opposition part,
stands before the Sherman law himself un
able to suggest any Improvement.
The Importance of this subject justiffe'
this reiteration of what has been done. al
ready. Listen! During Mr.. Cleveland's frs
administration a Democratic Congress de
clared the task beyond its strength. Tn
first Republican Congress under Presiden
Harrison passed the Sherman law, and 1
has received tho seal Of nnrnuQ1 nf the Re
publican party by resolutions repeated.
adopted in many state and national con
ventions. The Democratic party came int
!, power again in 1893. They did not repea
the Sherman act. They repealed everything
they thought was bad, and most everythinl
they thought doubtful; but they let tn
, Sherman antitrust law stand. and by al
r lowing ii to stand they admitted that tn
best blood and the highest integrity of tn
Democratic party believed that it ought t
4 stand; and by re-enacting its provision
I they conceded that the best brain and tn
highest intelligence of the Democratic part
did not think it could be improved. Sine
p then il has had the approval of more tina
: twelve hundred new representatives an
senators. This raises a pretty strong pre-
: sumption that the law has some degree o
merit.
MAY BE IMPROVED.
Let no man misunderstood me. Their
may be, / believe there is, statesmanshi
now in Congress that can improve tina
law. / am not here to say ii cannot b
e done, but 1 am here to declare 20 you, ger
e done, and that right early. 1 only insis