Jasper County Democrat, Volume 5, Number 28, Rensselaer, Jasper County, 18 October 1902 — CAN REGULATE TRUSTS. [ARTICLE+ILLUSTRATION]

CAN REGULATE TRUSTS.

Attorney-General Knox Declare* Congress Has Fnll Power. Attorney General Knox, in a speech before the Pittsburg Chamber of Commerce the other evening, declared that

Congress has full power v under the Constitution to pass all the legislation necessary for the regulation aud control of trusts. It is believed that Mr. Knox gave expression to the views of President Roosevelt and the administration on the subject. He pointed out the limitations of the

Sherman act aud said if this law is constitutional then other legislation along the same line would also bo constitutional. The keynote of the Attorney General’s speech was the positive declaration that Congress lias full power to pass any laws necessary to control the trusts and end any evils for which they are responsible. Mr. Knox proceeded to show Ihnt no constitutional amendment is necessary, explained what is lacking in the Sherman anti-trust law, and declared that if, as has been proved, this law is constitutionill. an amendment or a new law can he passed by Congress without a special indorsement by the voters of the nation. After declaring that the great combinations of capital, numbering thousands, in their numbers and size ’’appall no healthy American,” and that no right thinking man desires to impair the efficiency of the great corporations and instrumentalities of national commercial development, lie continued: "The conspicuous noxious features of trusts existent nnd possible aro these: Over-capitalization, lack of publicity of operation, discrimination in prices to destroy competition, insufficient personal responsibility of officers and directors for corporate management, tendency s o .nonopoly nnd lack of nppreeintiotr m tbtnr management of their relations to the people, for whose benefit they are permitted to exist. Over-capitalization is the chief of these and the source front which the minor ones flow.” The speaker declared that corporations depending upon any statutory law for their existence or privileges trading beyond their own States should he required to do business in every locality upon the same terms and conditions, with no preferences in service, no discrimination in prices, and such as are carriers should be required to keep the avenues of commerce free and open to all on the same terms, and to observe the law with reference to .stifling competition, “moreover,” he added, "corporations upon which the public depends for the necessaries of life should lie required to conduct their business so as regularly and reasonably to supply the public needs.” Other recommendations were made nnd then the Attorney General took up the question of the power of the government to regulate trusts, citing the constitution and the legislation enacted on the subject. He then declared that in his opinion the power of Congress now extends far enough to regulate commerce in the ways suggested. He declared that no one could now say that that power does not extend so far. After reviewing the recent cases agninst the railroad merger and the beef trust the Attorney General concluded his speech with these words: “A law regulating interstate commerce for its protection against restraint, ho brond as to cover all persons whose business is conducted under agreements which are in any way or to any extent In restraint of trade, might exclude thousands of small concerns conducting industries in one State from marketing their products in others; but a law which only covers contracts and combinations in restraint of trade as defined by the common law would exclude all hurtful combinations and conspiracies. Congress can, if it sees fit, adopt the scheme of that law.”

ATTY. GEN, KNOX.