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



The full text of Secretary shaw's address
follows:
The method originally adopted by which
competing concerns formed a cooperative
alliance was through the agency of a
trustee. That is, competitors in certain
lines, finding their methods mutually un-
satisfactory, appointed a trustee, to whom
was turned over the product of their sew
eral concerns. By this means the trustee
was placed in control of the entire output,
and could dictate both the volume thereof
and the price therefor. At the end of the
year profits were divided according to .
schedule agreed upon at the time of the
organization. This, l say, was the original
method, and the organization was called a
trust because of the trusteeship connected
Herewith.
attention through the whisky trust. Sub
sequently it entered into other branches
of manufacture and trade. So common was
1t in 1888, during Mr.. Cleveland's first ad-
ministration, that a Democratic Congress
appointed a committee to investigate the
subject. After six moths spent in the
effort this committee returned a vast
amount of evidence, and a brief report,
from which / quote the following language:
Your committee respectfully report that
the number of combinations and trusts
formed and forming in this country is very
large and affects a large portion of the i'm
portant manufacturing and industrial in
any list of these combinations for the rea-
son that new ones are constantly forming
and old ones are constantly extending their
relations so as to cover new branches of
business and invade new territories"
This, II must be remembered, was four
teen years ago. and the condition described
in the report is a condition that had grown
up and developed during and existed at the
close of Mr.. Cleveland's first administra-
ton. At that time no laws had been
enacted for their prevention. There was,
therefore, a clear field for craftsmanship,
and this Democratic Congress had ap-
pointed its best and ablest men to formu-
late constructive legislation on the subject.
1t is, therefore, interesting to note the clos
ing paragraph of the report, which is as
follows:
owing to present differences of opinion be-
tween the members of your committee they
limit this report to submitting to the care
full consideration of subsequent Congresses
the facts shown by the testimony taken be-
fore the committee"
L do not charge the Democratic party or
the then President with any want of sim
certify. | have always conceded to our
political adversaries the highest standard
of integrity and the best of motives. In
fact. / am willing to eoncede anything and
everything they may claim except ability to
cope with great problems. In proof of this
want of constructive legislative ability L
want TO emphasize the fact that as far back
as 1883, when the trust question was in its
infancy, the very best brain and the very
best craftsmanship of the Democratic party
eliminated in a report that they did not
know what TO do and with a recommended
ton that subsequent Congresses deal with
a subject admittedly too complicated for
them to solve.
already been elected. 1t was elected upon
the first political platform ever written that
promised affirmative relief. Benjamin Har-
rison, together with a Republican Senate,
had been elected, also, and upon the same
platform. 1t did not take long for Repub-
lican craftsmanship to formulate a remedy.
nation for the bill now known as the Sher-
man antitrust law. 1t passed both houses.
1t was signed, and 1T remains the only anti
trust law of a federal nature on the statute
books this day. I am not claiming that
John Sherman was a better man physically,
or a more patriotic man personally, or a
more sincere man individually, than the
personnel of the Democratic committee.
am simply claiming that John Sherman was
a statesman as distinguished from a mere
politician. He wrote laws-not resolutions,
merely.
The provisions OF the bill are interesting.
1 quote as follows:
Every contract or combination in the
form of trust or otherwise, or conspiracy,
i'm restraint of trade or among
the several States, or with foreign nations,
is hereby declared Illegal" etc.
Every person who shall make any such
contract. or engage in any such combina.
ton or conspiracy, shall be deemed guilty
of a misdemeanor,' etc.
Every person who shall monopolize. OF
attempt to monopoliZe, or conspire with am
other person or persons to monopolize any
part Of the trade or commerce among the
several States, or with foreign nations
shall be deemed guilty of a misdemeanor,'
etc.
Every contract or combination in the
form of trust or otherwise. or conspiracy
in restraint of trade or commerce." etc, lis
hereby declared illegal"
Every person who shall make any such
contract, or engage In any such combina
ton OF conspiracy, is deemed guilty OF {
misdemeanor."
ANY property owned under any contrac
or by any combination, or pursuant to an,
conspiracy land being the subject thereof
mentioned in Section l of this act, ane
being in the course OF transportation from
one State TO another, or 10 a foreign coun
try. shall be forfeited to the. United States
and may be seized" etc.
ANY person who shall be injured in hi
business or property by any other person