The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1903-01-14
HDaR's ANTITRUST BILL.
Chief Topic Of lnfsresk Tuesday
"a Gle Senate.
z. !.


Washington January THE day in
tho Senate was sVentful, because OF q
notable speech By Senator aoar on his
bill regulating trusts, and the attack
By Senator Vest on protected indus
tries through the operation Of the
Dingley law. Senator Hoar's utter
anees were listened to with marked
attention He said that nearly ali the
shoug htfui men IN this country are
argeed That some legislation. State OF
national ought Eho be had for#the re-
gulation and control OF what are call
ed g trusts = and OF large masses or
capital accamnlted by corporations or
arsificial persons holding property
and conducting business without IN
dividual liability. There was, he
Z said, a general feeling OF insecurity
and alarm about the matter, and We
are dealing with a real peril and not
with a afaacied or imiagnary danger.
He argued that If his bill should
become law and grove effective no cor
poration eugaging in the commerce
which is Wishin the jurisdiction OF
Congress can keep its condition a
secret. The bill, he said, depends for
It's Fasi the constitutional power
ofSCongress to regulate international
and inter state commerce. Should the
bin not move sffecGual he contended
shat it Waald he easy to extend IT'S
operation by imposing 4 personal
Liability On every stockhelder.
The Senator discussed the effect OF
the control Of vast weaith By IN
diyiduaIs, saying that IN such a system
there was nuch TO threaten republican
Eberty Mos$ Of 6he vast fortunes OF
the present day had been accumulated
wiShin thirty years. Is there any
thing TO renderi it unlikely, - he asked,
essshat Is one of these Fast forSunss has
groWnfrom a hundred thoasandto bum
dred million in 30 years, that IN the
hands Of the ns1s possessor IN another
thirty Or Fifty years the hundred mil
Lion may become hundred thousand
snillien? But great as were the pos
sibiliites Of the accumulation OF great
wealth hysinGsiFiluals, he did not ind
IN such accumulation ne same peril
that is found in corporate control Of
OF wealth
This is true, he said, because the na-
tlrai man dies and his estate is distri-
buted under the law. while the cor
poration elves forever. 1t never
goes through the probate court, he
said Its internal tranactions are
kept sectes. &c is NOT Jealous for It's
cWn honor or reputation, except so far
as It's boaoror reputation Is essential
60 its getting money. It has no soul
and no conscience. In general the men
who are most powerful In us manage
ment can, If they see ft, avoid re-
sponsibiiity to public opinion. Trey
always egpec6 to avoid personal LabIh-
ty for obligations. -
Speaking of corporations Senator
Hear saidsno power less than that OF
the entire nation is capable OF dealig
With them. The question was the most
Important that had come up for a long
time sffop,; said he, We are to deal
not only with foreign commerce, but
with that, compared with which the
foreign commerce of the world is but
"a drop In the bucket--the domestic
commerce of the United States This
commerce is. he continued, in The
hands OF the great corporations and 1t
is properly in their hands.
Two important steps already had
been taken in the passage OF the Inter
State commerce law and the Sherman
antitrust law, but while both mea-
sures lad proved smcacions, they had
fallen ssiers.of the requirements. Dis
cussing the eomplishments under
the Sherman law Senator Hoar said
tsiat the Attorney General has gone far
already 0naer Il. 10 break up a snonpoiy
which Affected the whole freight and
passenger trafic of the Northwest, an
other affecting the cotton traffic OF
s.Se South end another the price OF.
beef, :pgtrne article Of food. He
believed EbGt Congress had power TO
90 ffrrFsler on the lines indicated by
Attorney General Knox In his Pitts
burg speech, and the enactment OF q
lay on the general lines OF his bill
he thoughS would be only another
step IN eSe direction of the antitrust
Lam. His biH he considered tentative
and experimental but it was safe and
could be naediield. We should proceed
safely step by step. The measure, he
said, is based entirely On the theory
that Congress can impose on cor
ooration created by any State such
obIigatioas as it shall think FIT and
Yeasonabls as a condition for Its be-
ing permitted to engage in commerce
with foreign nations and among the
several STAGES.
a.sp.-o