Contemporary American History, 1877-1913Beard, Charles A. (Charles Austin)
History
Contemporary American History, 1877-1913
Beard, Charles A. (Charles Austin)
United States -- History -- 1865-1921
Consequently, between the two forces, the representatives of corporate
interests on the one hand and the spokesmen for socialistic doctrines on
the other, the old demand for the immediate and unconditional
destruction of the trusts was sharply modified. Corporations came to see
that undesirable as "government regulation" might be, it was still more
desirable than destruction. They, therefore, drew to themselves a large
support from sections of the population which did not share socialistic
ideas, and still could see nothing but folly in attempting to resist
what seemed to have the force of nature. Many working-class
representatives ceased to wage war on the trusts as such, for they did
not expect to get into the oil, copper, or steel business for
themselves; and the farmers, on account of rising prices and a large
appreciation in land values, listened with less gladness to the
"war-to-the-hilt" orator. Nevertheless, a large section of the
population, composed particularly of business men and manufacturers of
the lesser industries, hoped to "reestablish" what they called "fair
conditions of competition" by dissolving into smaller units the huge
corporations that dominated industry.
In response to this demand, Mr. Taft pushed through the cases against
the Standard Oil Company and the American Tobacco Company; and in May,
1911, the Supreme Court handed down decisions dissolving these
combinations. In the course of his opinions, Chief Justice White, who
had dissented in the Trans-Missouri case mentioned above, gave an
interpretation of the Sherman Act which was regarded quite generally as
an abandonment of the principles enunciated by the Court in that case.
He said: "The statute, under this view, evidenced the intent not to
restrain the right to make and enforce contracts, whether resulting from
combinations or otherwise, which did not _unduly restrain_ interstate
and foreign commerce, but to protect the commerce from being restrained
by methods, whether new or old, which would constitute an interference
that is an _undue_ restraint." Thus the Chief Justice restated the
doctrine of "reasonableness" which he had formulated in his dissenting
opinion in the earlier case, but this time as the spokesman of the
Court. It is true, he attempted with great dialectic skill to reconcile
the old and the new opinions, and make it appear that there had been no
change in the theories of the Court; but his attempt was not convincing
to every one, for many shared the view expressed by Justice Harlan, to
the effect that the attempt at reconciliation partook of the nature of a
statement that black is white and white is black.
Public-domain text, read in full here on John Shaqi.
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