New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-28
TRUSTS STIR THEM Up.
AMERICAN BAR REMEDIES.
Tar Rca0iIy-CompeJ Better Ser
sacc-Let State Compete.


Of Rhode Island. United states judge from the
First Circuit. Judge Colts subject was The Rea-
soma bleness o. the Law The common Ia" is
nothing be. reason" an opening sentence
which was the keynote Of the paper Judge Colt
sai6 in part:
The essence and end Of law are no doubt truth
fully expressed in the a1m M the so of the laW
and when the reason OF any and spirit
Of cases make law not the letter. Of particular
precedents." Reason IS the life or the Jaw; tne
II is also undoubtedly true that the great l bod
Of the law is founded upon the olcIases 5s % Fit
Notwithstanding all this IL Is an n1stoTlca 4 In
primitive custom TO the present time have peeh
continuous struggle between tne Tsiu bloneSs
md common sense OF society in us upward Inafch
10 'nae All fhroush the Centuries laws de
Tbch bsTe been adopted by the civilized
world. the English law and the civil Law ther re
has been a constant effort 10 bring existing rules
into harmony with advancing civilization
Keep Ie az social wants and public opinion
Is the dificult problem which always has ana All
cans never E be- enfiTey bridgeG a stationary BODY
anG ain ng IN sinnessing effort narrow the chasm.
The Invocation Of the doctrine of reasona6lenfe
~ society is strkingy illustrated in the conflict
between legislative onnipoence ana me nst
secured by the Fourteenth Amendment TO the Con
s:itution OF The United States
THE BILL OF RIGHTS.
reople were fearful of Capitalization and consoi-
dation. and hence the bill Of rights emoogLS1 IA ~
Ses u ameHdnents only restrain the national gov
f5ar the a aldse e Of the he e1 Var in 1850 pn6
opinion had changed and in 1865 the tour lee .esC of
he land BY its provisions the States are pro
ea from passing r or e IF e n@T a% or
erty without due process Of law. or deny TO any
We have on the one hand the State legislature
80 newer Of eminent domain and other general
powers. and on the other hand this constitu-
IN dealing with this situation the Supreme Court
has declared that there is boundary me oe5omo
and this line IS established by the application or
exercise by the legislature Of its great powers IN
unres sonahle way is noI cue PGCe fbe meaning
OF the Fourteenth Amendment
The report ~ the committee on legal education
was presented by Joseph II. Beale. Of Massachu-
sefts Walter 5. Logan, Of New-York. maze a
verbal report from the committee on commercial
law He commended the National Bankrupt law.
and then discussed the trust question. He said II
would have be settled 10y the lawyers; If they
did not the denagogues would. If combinations
continued competition would cease. and CONNER
cial Jurisprudence would eventually be entirely
changed. The committee. he said. had reached the
unanimous conclusion that modern industrial com
binations should be stayed.
CONSIDERABLE CONFUSION.
Charles F. Henderson. Of Nebraska. said the re-
nient surprise and indignation. He said the re-
port was calculated rend the association asunder
and he resented the attempt TO turn the body into
. political hastings. He asked that the report be
read. There was opposition the motion and con
siderable confusion.
The convention agreed TO hear the report at once
j was read by Mr. Logan and was fully discussed
The report says the trust question is the most
Important question now before the American bar
Il SAYS combinations rapidly driving out of
business the small dealer and the small producer
These two classes heretofore have furnished the
largest number Of petitioners in bankruptcy courts
Iut now Industrial combinations Of gigantic mag
lltude too large for a bankruptcy court to manage
and TOO rich 10 need ever TO be called before it,
have been substituted The report says in part:
TRUSTS PRIMARY OBJECT.
The modern combinations primary object is to
control trade ana commerce In plain articles Of
monopoly in The place Of more or less free COM
commercial relations between man and man. and if
ey are to continue TO grow and develop IN the fut
ure in the past will render necessary most impor
changes in the principles OF our commercial
laws. Combination As an economic force Is fast COM
las 10 az ne PeCe % ~ ne ia ~ @
as employers combining; everything seems TO be
coming in some form OF combination and everybody
seems he a combiner. The competition that still
remains is fast disappearing. Workmen are re-
largirg the spheres Of their activity and extend
IS still stronger and more far reaching than the
aiuion Of the workmen. We are now having com
Steel Corporation IS combination Of dozen here
tofore competing producers. who themselves were
turn often conbina tons Of sti others. To trace
them back their beginnings is like discovering
81 the multitude OF sources tnat go to m, make up
the volume Of the swollen MISSISSIPPI Inc prop
erty which the Amalsamated Copper Company
row controls was once perhaps thousand mining
claims. caCh one very likely owned IN common by
half dozen miners. The department store trust
has combined the business of hundreds of mer-
chants some portions OF which they acquired by
purchase and others'in sone other way 1t is esti-
mated that the Standard oil Company has taken
I,, CONTRACT or v force the business Of ten thou
~ r,r.r1, h. We hee, lr1,lt I'm bv the c0mbina
ton Of hundreds Of smaller lines. extensions
nf one another ana Others competing lines.
The ambition OF the shipping Trust. perhaps the
control al The ships that SAL the ocean: a nun
bred years ago there We're hardly two ships owned
lv the same individual or corporation. and ever
NV wears there was scarcely a shin owner
s-diyidual corporation that owned a half dozer
shps no one knows but that within the rex
greater than J. Bierpont Morgan VII
arise who VIII combine into organization al
-he industries of the land. so that the workman
VINO works FOR wages can find but possible
he seller The stems toward The formation OF one
universal Industrial corporation which shaI Grove
nj the Industries Of the land, haze been already
snore tfan hair taken, Il IS not so far TO go now
70 that end - We had 10 20 70 reach presen
3dUsf~ial conditions
ECONOMICALLY DES1RA BILE
A monopoly i economically desirable; that is
FOR the mOnopoist. The United States steel Cor
n0Tatiou produce, no matter what X sells then
FOR its goods cheaper than the elements out o
Them The STANDARD on company IS econolIetII :,
holy. pays % cent dividends. The Suga
trust Is economically correct. for. whereas the IN
6iVdual sugar rehners lost money on slall caPital
izatiou. the Sugar Trust pays big dividends on
large capitalization. The railroad comhina ton
IRE economically impregnable. for they pay. !
Norgau'S shipping and Mr. SchWab.