Jasper County Democrat, Volume 5, Number 29, Rensselaer, Jasper County, 25 October 1902 — CAN REGULATE TRUSTS. [ARTICLE+ILLUSTRATION]

CAN REGULATE TRUSTS.

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

Congress has full power under tha Constitution to pass all the legislation necessary for ths regulation and 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 tha

Sherman act and said if this law is com stitutional then other legislation along the ■ame line would also be constitutional. The keynote of the Attorney General’s speech was the positive declaration that Congress has 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 that no constitutional amendment is necessary, explained what is lacking in the Sherman anti-trust law, and declared that if, as baa been this law is constitutional, an amendment or a nexv law can bt 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, he continued: “The conspicuous noxious features of trusts existent and possible are these; Over-capitalization, lack of publicity o) operation, discrimination in prices to de stroy competition, insufficient personal responsibility of officers and directors for corporate management, tendency to monopoly and lack of appreciation in their 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 from xvhieh the minor ones flow.” The speaker declared that corporations depending upon any statutory law for their existence or privileges trading beyond their oxvn States should be required to do business in every locality upon the same terms nud 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 laxv xx'ith referenco to stifling competition, “moreover,” he ndded, “corporations upon which the public depends for the necessaries of life should be required to conduct their business so as regularly end reasonably to supply the public needs.” Other recommendations were made and 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 poxver of Congress now extends far enough to regulate commerce in the xvays suggested. He declared that no one could noxv say that that power does not extend so far. After reviewing the recent cases against the railroad merger nnd the beef trust the Attorney General concluded his speech with these words: “A law regulating interstate commeroe for its protection against restraint, so broed 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 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 laxv.”

ATTY. GEN. KNOX.