History for ready reference, Volume 7 : $b Recent history (1901 to 1910)Larned, J. N. (Josephus Nelson)
History
History for ready reference, Volume 7 : $b Recent history (1901 to 1910)
Larned, J. N. (Josephus Nelson)
History -- Dictionaries
District of Columbia is facing criminal trial. Special counsel
are investigating the coal combination, and special counsel
are investigating the Standard Oil combination.
{119}
"Three of the causes won in the Supreme Court of the United
States have furnished decisions of the utmost importance. In
the Tobacco Trust case of Hale agt. Henkel, the Supreme Court
denied the claim of the trust corporations to be exempt under
the Constitution from furnishing testimony against themselves
by the production of their books and papers before a federal
grand jury. Thus, the protection of secrecy for corporate
wrongdoing is beaten down. In the Northern Securities case the
Supreme Court held that a wrong accomplished by means of
incorporating in accordance with the express provision of the
New Jersey statute was just as much a violation of federal law
as if there had been no incorporation. Thus, the state rights
defence of protection from favoring state statutes is beaten
down. In the Beef Trust case the Supreme Court held that,
although the business of manufacture was carried on within the
limits of a single state, yet the purchase of the raw material
in different states and the sale of the finished product in
different states brought the business within the interstate
commerce clause of the Constitution and gave the federal
government authority over it. Thus, the defence that the state
alone can deal with manufacturing corporations, however
widespread their business, is beaten down.
"The obstacles to the enforcement of the federal anti-trust
act thus removed are obstacles which stood in the way of all
proceedings, and they had to be cleared away before any
proceedings of the same character against the same classes of
corporations could be successfully maintained. They have been
removed, not by newspaper headlines and denunciation, but by
skill, ability, and energy of the highest order.
Public-domain text, read in full here on John Shaqi.
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