Milford chronicle., 1902-10-17
KNOX ON THU TRUSTS
Discussed by Attorney General at
Pittsburg Banquet.
poINrs our EvILs ave AaysEs
Says Disqualification Is Most Nox-
ious Feature, As That Furnishes
Temptations For others-corgress
60 ReauIate Trusts.


Ious Feature, AS That Furnishes
Temptations FOR others-corsress
to Regulate Trusts.
Pittsburg, Pa, oct. Is. - Attorney
Knox addressed the members
Of the Chamber Of Commerce at the
Hotel schenley here last night. There
were 700 guests present. The sub
jeet of his address was 'The Com /
merce Clause of the Constitution and |
the Trusts" Mr.. Knox was afterwards |
entertained by W. H. Keech, chairman
of the committee in. charge of the |
meeting. In part Attorney General |
Knox said:
1.-THE people, by common consent,
have denominated the great industrial
and other corporations now controlling
many branches Of commercial business,
trusts. That there are evils and abuses
in trust promotions. purposes. organi-
cations, methods. management and eff
fects none questions except those who
have profited by those evils. That all
or any Of these abuses are to be found
in every large organization called a
trust no one would assert who valued
his reputation for sane judgment.
"The conspicuous noxious textures
Of trusts existent and possible are
these: DISQUALIFICATION, lack OF pub
licity Of operation, discrimination in
prices to destroy competition, INSULT
Client personal responsibility OF Off
GERS and directors for corporate man
agement, tendency to monopoly and
lack Of appreciation in their minage-
ment Of their relations to the people,
for whose benefit they are permitted
to exist.
"OyercapitaIization is the chief Of
these and the source from which the
minor ones flow. It is the possibility
Of overcapitalization that furnishes
the temptations and opportunities for
most Of the others They Should be
subject to visitorial supervision, and
full and accurate information as to
their operations should be made regu-
larly at reasonable intervals. Secrecy
in the conduct and results Of operation
is unfair to the non-managing stock
holders, and should, as well for rea-
sons Of state, be prohibited by law.
1.-THE constitution provides: The
congress shall have the power to regu-
late commerce with foreign nations
and among the several states and with
the Indian tribes. Plainly, the power
must reside somewhere, either in the
nation OF in the states reservations ;
but the effect of present doubts is to
create a dilemma under which, ap-
parently, all power vanishes, the states
saying, some of us do and some of us
do not approve or permit monopolistic
production; that is our concern, but
when the products cross our borders
the problem passes beyond us and be
comes matter Of national regulation
and control; and the nation appearing
to reply, l can deal with commerce
passing beyond any one state, but eff
fective regulation here may indirectly
interfere with production, and that II
state matter which may not touch
And SO the national and local sover
eighties halt and the delictun es
capes.
"Conceding that the present law Il
not effective throughout the situation
we come to the final alternative; Ma.
not congress, under the existing con
stitutional grants, amend and extern
the law, and thus remedy its defect
and so effectively regulate naiona
and foreign commerce as to proven
the sitting Of competition, the regu
I lating Of output and price, ami tn
restraining Of national and internf
tional trade? If the answer I'd thi
question should be in the affirmative
a second question follows: How Nigh
congress so amend the present law?
81 do not scruple to say that n m
3 judgment the more a thoughtful min
reflects on the first question. the NOR
: unhesitatingly will an Affirmative al
swer be returned.
1.-THE president said in his first me
!, sage he did not think the authority
congress to protect the people againi
r the evils of the trusts had been e
4 hausted. The views I have expresse
are but an application Of his. N
3 whole purpose in what have said
!. to challenge the proposition that v
x are helpless under our system Of so
a eminent to deal with serious problem
a which confront us in respect to Of
d greatest interests. Since the radio
r questions Of human rights and huns
Ee governments have been settled. Il
Z production, preservation and distrib
ton of wealth receive the chief attic
ton of civilized peoples"
Appointed to Philippine commissio
L Washington, Oct. 14.-General Jam
a. F. Smith, of California, has been a
y pointed a member of the Philippi
IS commission to succeed Bernard Mos
SSS who is to retire January 1. G,snel
% Smith filed the important office 5f C
q lector of customs for the Phillppi
81 Islands, which he resigned
q accept the present position as associs
% justice Of the Supreme court o.. t
50 Philippines. Judge Smith is a pron
IA mont Cofholiq