The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1902-02-19
THE ANTITRUST
LEGISLATION.
The House Bill to Prohibit the
Formation OF Trusts and Mono.


The bill introduced by MI. w.
Johnson TO prohibit the formation O
trusts and monopolies IL this State
and which ls a copy of the Hogg Law
In Texas, came up for discussion il
the House, and a motion was made t.
strike out the enacting words, which
was afterwards withdrawn. In orde
to reach a test vote, the motion I,
strike out the enacting words was re
newed and the previous question wa,
called, which forced a vote TO be taken
The House refused to strike out thu
e%nacting words by u vote of Sd to "a
and the bill was left for further con,
s%lderation. The discussion was re,
ported as follows:
Mr.. johnson, who was tho first TIC
speak upon the bill, said that it had
been shown by the special report OF
the attorney general that the present
anti trust laws are practically lneffect-
i've and wholly inadequate TO remedy
the evils of trusts growing out of the
constant combination and amalgama-
ton of rival interests for the sole pur-
pose of sitting competition. This re-
port has been made by the attorney
general after q most thorough and ex-
haustive examination and investiga-
tion in pursuance of the joint resolu-
tions directing the INT Tho bill, al
though v%oluminous, has been prepared
with the aid and advice of the attor.
ney general, who by reason of his con-
nection with the matter Is thoroughly
familiar and conversant with the evils
and must necessarily be regarded as an
authority for a remedy.
The bill has been prepared with
great care, study and consideration,
and every precaution has been taken
against coming in conflict with the
State or Federal constitution, and 1t
simply provides against the formation
of trusts and combines to defeat and
prevent Legitimate competition.
No claim can be made that this bill
will drive capital from the State for
almost every State in the Union now
has antitrust laws, and many of them
very drastic and sweeping in their pro-
visions. 1t is very necessary that we
should have effective antitrust legis-
lation and restrict the heartless corpo-
rations when they attempt to extort
money unjustly from the great masses
of the people. Corporations have macy
privileges that individuals do not have
and this bill is only intended for the
protection Of the people against unjust
extortion. Now if those who are OPP
posed to the passage of this bill are
sincere and just, and only want legiti-
mate profits why are they unwilling to
launch out into the business and com.
mercial world upon their merits, and
compete with other like concerns for
their just share of business? Merit
most invariably wins its just rewards
concerns are labelled from head to foot
with suspicion aud danger, and the
whole object is to practice unjust ex-
tortion.
The formation of trusts during the
last few years have reached such a
magnitude as to rouse an interest to
the danger of trusts throughout the
whole civilized world. Huge corpora
ton after corporation have CONSOLIDATE
ed and then all the power and influence
of amalgamated wealth is utilized to
weave a complete net work around
every similar producing plant with the
evident purpose of either absorbing
the rival concern or driving them from
the commercial field. The trusts have
increased and flourlshed under the
fostering care of the Republican adj
ministration until nearly all the ave-
nues of industry are being fed and
clothed by the trusts.
The trusts of this nation alone have
o capitalization that approaches the en-
tire volume of metallic money in the
whole world; they have a combined
capital which almost il not quite equals
all of the gold and silver used by the
people of the entire world, and thus
armed with such a powerful concentra-
ton of wealth and capital they make
val upon similar competing concerns
and oon sweep them from the CONNER
cial field by absorption or driving them
into bankruptcy. And then with nU
competition to meet or law to restrict.
1t is then that the dangerous feature
of extortion is unblidled to prey upon
the honest gotten gains of a helpless
people.
If the numerous and constant com
bines are not for the sole purpose OF
extortion, why do they combine2 III
they want to increase their capital OF
enlarge their plants, no one could OBJ.
ject to that; this country is quite large
enough for all the increase or enlarge,
ment, they may desire, that is legiti
mate and would increase the taxable
property of the State and give employ
ment to others, but that is not the kline
of increase they want.
They want to water their stock anC
absorb and gobble up all competing ant
rival concerns that they may be fire,
and untrammeled in their dishonest ex
tortion, upon the great consuming pub
lie.
TO show you the complete power ant
control of monopoly and the high hand
ed way in which it is welded, | will re
fer you TO the great prints combine a
Fall River, the manufacturing centr
of America. They bought our feec
staple few years ago at 8 cents befor
they joined in the mar facture of tn
cotton in TO clothes and then sold tn
goods back TO the Southern jobbers a
3 cents per yard in 1893 after goin
into the trust. Cotton decliued to
IL cents per pound and this same 10,
price cotton was bought up. by TIL
same trusts and manufactured int