The people's journal. (Pickens, S.C.) 1891-1903, 1902-02-20
THE ANTITRUST
LEGISLATION
The House Bill to Prohibit the
Formation of Trusts and Mono
DO1iea

The bill introduced by Mr.. w. }
johnson to prohibit the formation Q
trusts and monopolies IN this State
and which Is a copy of the IIogg lay
IN Texas, came up for discussion il
the House, and a motion was made t.
strike out the cnacting words, whicl
was afterwards withdrawn. In orde
10 reach test vote, the motion tt
strike out the enactlng words was re
newcd and the previous question was
called, which forced vote TO be taken
The House refused TO strike out tho
cnacting words by vote of Sd to "a
and the bill was left for further con-
slderatiOn. The discussion was re-
ported as follows:
Mr.. Johnson, who was the first TO
speak upon the bill, said that it had
been shown by the special report of
the attorney general that the present
anti trust laws arc practically lnclfect-
i've and wholly inadequate TO remedy
The evils OF trusts growing out of the
constant combination and amalgama-
tiOn of rival interests for the sole pur-
pose of sitting competition. This lc-
port has been made by the attorney
general after a most thorough and ex-
haustiYc examination and invcstiga-
ton in pursuance of the joint resolu-
tions directing the same. Th, bill, al
though voluminous, has Eccn 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 IN
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 b,ll
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-
latlon and restrict the hcartlcss corD0-
ratlons when they attempt to cXtort
money unjustly from the great masses
OF the people. Corporations have mary
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 op-
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 reward,
but these constant combines Of rival
concerns are labelled from head to foot
with suspicion aud danger, and the
whole object is to practice unjust cx-
tortion.
The formation of trusts during the
last few years have reached such a
magnitude as TO arouse an interest to
the danger Of trusts throughout the
whole civilized world. Huge corpora
ton after corporation have cOnsOhdat.
cd and then all the power and influence
of amalgamatcd wealth is utilized to
weave 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 llourlshcd under the
fostering care of the Republican ad-
ministration until nearly all the ave-
MUGS Of industry are being fed and
clothed by the trusts.
The trusts Of this nation alone have
a capitalization that approaches the en-
tire volume of metallic money in the
whole world; they have combined
capital which almost iC not quite equals
all of the gold and silver used by the
people of the entire world, and thus
armed with such powerful conccntra-
r,on Of wealth and capital they make
war upon similar competing concerns
and soon sweep them from the CONNER,
cial field by absorption or driving them
into bankruptcy. And then with nc
competition to meet or law to restrict
it is then that the dangerous feature
Of eXtortion is unblidled to prey upol
The honest cotton gains Of II helpless
people.
If the numerous and constant com
bincs are not for the sole purpose o
extortion, why do they comblnc2
they want to Increase their capital 0
enlarge their plants, no one could ob
Ject to that; this country ls quite larg
en'ugh for all the increase or enlarge
ment, they may desire, that is Iegtl
mate and would increase the taxubl
property of the State and give employ
mcnt to others, but that is not the kin
of increase they want.
They want to water their stock an
absorb and gobblc up all competing an
rival concerns that they may be frc
and untrammclcd in their dishonest c>
tortlon, upon the great consuming pul
lic.
To show you the complete power an
control Of monopoly and the high han,
ed way in which it is welded, will n
fer you to the great prints combine
Fall River, the manufacturing cent?
of America. They bought our neet
staple few years ago al cents bcfo
they joined in the manufacture of II