Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-01-06
SenatOrHOar
On the Trusts
Discusses Them Points Out Dangers Ahead - Greater
from Corporations Than Individuals - Ten
Specific fyTS Indicated

power II we are TO rival foreign ma
tlons In the great matters. which they
also control by individual power. We
must, n we can. look out In protecting
ourselves, not TO destroy them, nor to
cramp them We can give them a law
which win not impair their strength
and not check their natural and right
ful growth and that ] hope Is oil we
mean to do"
"But great wealth should be controlled
as the servant OF man and OF govern
ment and should not be given the reins
OF control We must keep control over
agencies which can make cities grow or
'Sither."
Mr. Hoar said that he did not agree
with those who think they find an ade-
quate remedy for the evils Of the trusts
In the removal of the tariff from all
trust made articles. He opposed the
government ownership Of great labor
employing Industries, including coal
mines and railroads. Socialism, he said,
furnished no remedy but would be quite
as bad as the trust themselves
POWER OVER CORPORATIONS.
Speaking OF corporations. Mr.. Hoar
said no power less than that OF the
empire nation Is capable OF dealing
with them. The question was the most
important that had come up for
long time. for" ne said, 1--WE are 10
deal not only with foreign commerce,
but with that compared with which the
foreign commerce Of the world Is but a
dron in the bucket-the domestic COM
nj
commerce. he continued Is In the hands
of the great corporations and II Is
properly In their hands. Their work
might be benefciant as well as other
wise, and for this reason. Congress
should 20 slowly and carefully In devils
ing a remedy for the Ills lest II should
bring on others which might be worse.
Discussing the accomplishments I'M
der the Sherman antitrust law, MIR
TIoar said that the attorney general
had gone far already under It 10 break
up a monopoly which affected the
whole freight and passenger traffic of
the northwest. another affecting the
cotton trade OF the south and another
the price OF beef He believed that
Congress had power to go further on
the lines indicated by Atty Gen. Knox
IN his Pittsburg speech and the enact
ment Of law on the general lines OF
his bin he thought would be only an
other step In the direction OF the anti
trust. His bin. he considered tentative
and experimental But II was safe and
cot9l be nodihei. We should proceed
safely step by step.
He then presented the following out
lines OF the restrictions imposed by his
bill on corporations.
RESTRICTIONS.
First-PublIcity IN the conduct Of
their business and the constitution OF
heir organization; second. the power TO
stop their business altogether II they
violate the laws enacted by Congress;
third, strict penalties on them and their
officers for such violations; fourth, per-
sonal liability for all debts, obligations
and wrong doings OF the dlrecors, off,
GERS and agents unless the laws be fully
complied with. This liability is secured
by requiring the personal consent TO
the provisions of this bin and accept
ance OF all its obligations by such Off
GERS, directors and agents before they
enter upon office.
As TO the effect Of the measure in
case II becomes a law he said,
III this bin shall become a law and
prove effective no corporation engaging
In the commerce which Is within the
Jurisdiction OF Congress can keep It's
condition secret, No corporation can
do business on a fictitious capital or
watered stock. No corporation can OPP
press any rival. whether corporate or
individual by any unlawful practices.
II II do II will be on the condition that
every one Of its managers become per-
sonally liable for its debts and its torts.
and win be liable also 10 heavy Grim
inal liability. This bill depends for its
validity on the constitutional power OF
Congress to regulate international and
interstate commerce"