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
Both old parties returned to the trust question again in 1892. The
Democrats recognized "in the trusts and combinations which are designed
to enable capital to secure more than its just share of the joint
product of capital and labor, a natural consequence of the prohibitive
taxes which prevent the free competition which is the life of honest
trade, but we believe the worst evils can be abated by law." Thereupon
follows a demand for additional legislation restraining and controlling
trusts. The Republicans simply reaffirmed their declaration of 1888,
indorsed the Sherman anti-trust law already enacted by Congress in 1890,
and favored new legislation remedying defects and rendering the
enforcement of the law more complete.
The railway issue emerged in 1880 when the Republicans, boasting that
under their administration railways had increased "from thirty-two
thousand miles in 1860 to eighty-two thousand miles in 1879," pronounced
against any further grants of public domain to railway corporations. The
Democrats went on record against discriminations in favor of
transportation lines, but left the subject with that pronouncement. Four
years later the subject had taken on more precision. The Republicans
favored the public regulation of railway corporations and indorsed
legislation preventing unjust discriminations and excessive charges for
transportation, but in the campaign of 1888 the overshadowing tariff
issue enabled them to omit references to railway regulation. The
Democrats likewise ignored the subject in 1884 and 1888. In 1892 the
question was overlooked by the platforms of both parties, although the
minor parties were loudly demanding action on the part of the Federal
Government. The old parties agreed, however, on the necessity of
legislation protecting the life and limb of employees engaged in
interstate transportation.
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