The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1903-01-10
SENATOR KOAR ON TRUSTS.

he venerable ana respected
Senator from Massachusetts,
u who is dcSrrvrdly regarded as
one of the ablest Constitutional
Lawyers on the floor of the Senate. and
whose opinions are always entitled 10
respect, delivered on Tuesday, a notice
able and vigorous speech, in defence Of
his Antitrust Bill now pending before
the judiciary Committee of the Senate,
Of which committee he is Chairman.
Senator Hoar assumed at the outset Of
his speech, that all thoughtful men, are
agreed as to the necessity for legislation,
either State or National for the control
of Trusts, and pointed out what he con-
ceived to bc their chief evils. viz
]. Destruction of competitions
.. The management of local industries
by absenteeS in the interest of absentee
capital
3. Destruction of local public spirit.
4. Fraudulent capitalization.
). Secrecy.
6. Management for the private benefit
of the officials.
{. The power to corrupt elections,
and. in some cases, to corrupt the courts.
8. The want of personal responsibility
to public sentiment.
8. The absence of personal liability
for contracts or wrong doing.
10. The holding of vast properties in
mortmain-in the dead hand" if We
may use the ancient phrase of the Eng
fish law. But it has life enough for all
purposes of power to serve the will that
yields it. 1t is dead only to the influence
of any nerve which comes from the
brain or heart of the people
Mr.. Hoar said that he did not agree
with those who think they lind an AIDE
quatc remedy for the evils of the trusts
in the removal of the tariff from al the
trust made articles. He announced his
opposition to Government ownership Of
great labor employing industries. incud-
ing coal mines and railroads. Socialism.
he said furnished no remedy. but would
be quite as bad as the trusts themselves.
Speaking of corporations. Mr.. Hoar
said no power less than that of the on
tire nation is capab" of dealing with
them. The question was tn" most i'm
portant that had come up for Il long tim"
for" said he. I'VE are to deal not only
with foreign commerce. but with that
compared with which the foreign com
mcrcc of the world is but drop in the
buckct-thc domestic commcrc" of the
United States" He contcnd"d that the
Interstate Commerce Law and the SHEER
man Antitrust Law, while ctcacious.
had fallen short of the requirements.
He then presented the following out
line of the restrictions imposed by his
bill ON corporations
First Publicity in the conduct of their
business nd the constitution of their or
N''olt, lHt power 10 SlOp
their business altogether if they violate
the laws enacted by Congress; third,
strict penalties on them and their officers
for such violations; fourth, personal liza
bility for all debts, obligations and wrong
dongS of the directors. officers and
agents unless the laws lac fully COM
piled with. This liability is secured by
requiring the personal consent to the
provisions of this bill and acceptance of
all its obligations by such officers, direc-
tors and agents before they enter upon
office.
AS to the effect of the measure in case
it should become a law, he said If
this bill shall become a law and prove