The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-16
THE ATTORNEY GENERAL ON
TRUSTSi

Attorney General Knox's address at
Pittsburg on "The Commerce Clause of the
Constitution and Trusts" was an able dis
cussion of the power of Congress to deal
with trusts. This necessarily involved the
discussion of trusts themselves and of their
capacity for good and for evil. AS Mr.
Knox treated the subject from a lawyers
point of view, his address was free from
any attempt to excite popular prejudice or
passion, but there was much in it to i'm
press popular intelligence. Mr.. Knox takes
the view, now generally adopted by per-
sons of sufficient intelligence to do little
thinking. that great industrial corporations
and combinations of capital are the instru-
mentalties of modern commercial activity
and necessary to the worlds progress, but
he also thinks they should be kept under
wholesome restraint. This he thinks can
be done by legislation directed against the
abuses CT such corporations and not
among these abuses he placed "overcapi-
talization. lack of publicity Of operation,
discrimination in prices to destroy competi-
ton, insufficient personal responsibility of
officers and directors for corporate manage
ment tendency to monopoly and laok of
relations to the people, for whose benefit
they are permitted to exist" No stronger
| array has ever been made than this of the
possible abuses and evils involved in trusts,
yet Mr.. Knox is confident they can all be
prevented or neutralized by national Iegis-
torney general of the United States who is
speaking, the following is of interest:
Corporations and joint stock or other as
| sociations, depending upon any statutory
| law for their existence or privileges, trad
/ ing beyond their own States should be re-
/ quired TO do business in every State and
| locality upon precisely the same terms and
conditions. There should be no discrimina-
| ton in prices: no preferences in service
| Such corporations serving the public as
| carriers and in similar capacities should
/ be compelled to keep the avenues of com.
| merce free and open to all upon the same
| terms and to observe the laws as TO its in
| functions against sitting competition More
over, corporations upon which the people
| depend for the necesSaries OF life should bt
| required to conduct their business so as
regularly and reasonably TO supply the
public needs.
| 1ney Et SUBJECT 10 NlSltOrlal SUI
| pervision. and full and accurate informal
tior as to their operations should be mad,
| regularly at reasonable intervals. Secrec,
| in the conduct and results OF operation 1.
| unfair TO the nonmanaging stockholders
and should as well, for reasons of state. b.
| prohibited by law
The attorney general thinks all this cal
be accomplished by national legislation un
der the interstate-commerce clause OF tn,
Constitution as 1t now stands, aided, o
course. by the wise judicial construction
which the courts would be sure to give sucl
legislation in its application to particula
cases. In simplifying this idea the attorne,
general made suggestions which are likei.
:. to be carefully studied by members Of Con
gress when they come to iegislate on tn