The Minneapolis journal., 1903-01-16
BARKlS Is WltEIN'
The Trusts Are Not Opposed to Leg
islation Of q Certain
Character.
It Is Said That They Have Seen the
Senate Leaders and Made All
Arrangements.

. 1l1,&
a Washington special to the Record Her
ald says:
Antitrust legislation, so-called, but
legislation which the trusts are wholly
willing to have, is likely to be passed BY
the present congress-. In fact, what
ing has been reached between the: leaders
Of the republican party in Washington,
as the party Of the first part, and the
representatives of some of the most pow
erful trusts in the country as the party of
the second part. The agreement is to
pass nominal antitrust bill, but to
take good care that nothing shall appear
in it which the trusts have any objec-
tions to. -
During the last week the representatives
of some Of the biggest trusts and trust
makers in the country, including the steel
trust, thes oil trust, the sugar trust and
the anthracite trust, have been in Wash
ington arranging program. They. be-.
lieve they have succeeded in their mis-
sion. They left the capital convinced that
they knew just what would be in, the So
called antitrust bill when it finally be-
comes law. The agreement between the
trusts and the republican leaders calls for
these provisions: A. ) ~ 4 81. ST
/ First-Fublicity Of the operations of Interstate
trusts through reports to a government depart
ment - "'. - ..-rl-.. h"
Second-More drastic laws against discrtmina-
tlons and the payment of rebates by common
carriers; shippers who receive rebates to be
punishable the same as transportation company
officials who pay them. ,.>.. 4. ..a= +
Third-The administration Of the trust law
to be turned over to new department. of COM
merce, to be created by congress, and that de-
partnent to have a bureau of insurance and cor.
poa tlons to deal directly with trust reports and
publications. --. -
When the representatives of the big
trusts came to Washington they had little
difficulty in reaching the foregoing. agree
1o11f with f11 EJ~ of
party. These men from New York did
their work quietly and skilfully. Not one
OF them appeared at the capitol. None Of
them registered at a hotel. Only the peo-
pie they wanted to see and who wanted
to see them knew that they were here;
and when their work was done they went
back to New York. There is no more
uneaslness in Wall street as to what con-
gress is to do in the trust-busting line.
Wall street knows. e H.H:$ Ef. Il:
1t is, of course, possible that nothing
will be done; but if anything be done, it
not matter what the judiciary committee
or subcommittee of the house does; that
| subcommittee Is just now very active. It
saw the president yesterday. To-day it
called upon the attorney general and re-
ceived some more suggestions; now it is
preparing its little bill. If it catches onto
the scheme the trusts have themselves
| arranged, the committee may gain credit
for proposing a winning measure. IF not
not The president, the attorney general
the house judiciary committee and the
house itself have not power enough to put
through anything which the trusts object
to. In trust legislation as in almost every
thing else, the senate is the court Of last
resort. .-r.. r.: p. ..-.,.:.,ss.s@.:ss =
| An overwhelming majority Of the repub-
lican senators have no sympathy withst
trust busting idea. The astute represen-
tatives Of the big trusts had not been
/ in town half an hour till they Knew they
legislation. The republican, leaders Will
not have an antitrust bill which may
Interfere with the prosperity Of the. cou1l-
| try. They deem it their duty to- guard
prosperity above everything elsesa and
they believe the men who are most com
petent to say whether or not any proposed
piece of legislation would be harmful are
the men who carry on great enterprises
and who have their fingers on the business
pulse Of the country. <.$ :. E
The agents OF the big corporations who
came to Washington to see what was go
1 ing on, thought this a rational and patri-
otic attitude on the part Of the republican
leaders, and, they tried to respond to: it.
They, too, wished to be rational and
patriotic. They declared that they had
no objection to the publicity suggestion
made by President Roosevelt In fact,
1sone Of the biggest trusts, notably the
United States Steel corporation, has vol
unfairly adopted the policy Of taking the
public fully into confidence as to its -oper-
ations. The progressive men who are at
the head of a number Of the greatest cor
porations are anxious to have as much
publicity as possible as to the affairs of
their companies. Publicity is protection
for investors as we'll as desirable on other
grounds Of public policy. IS 10 ..@S s t