American literature -- Periodicals; Literature -- Periodicals
Over the question of federal control of large combinations these five
men and their colleagues debated for nearly two years. Senator Sherman
introduced his first anti-trust act August 14, 1888; the present
statute finally became a law on July 21, 1890. During this period six
separate trust bills, all modifications of that originally introduced
by Mr. Sherman, were laid before the Senate. They were considered by
two committees--the Finance and the Judiciary--and debated at great
length in the committee of the whole. The discussions occupy one
hundred and fifty pages of the Congressional Record.
A striking illustration of the general ignorance of the circumstances
under which the Sherman Act was passed is furnished by the present
Republican platform. This declares that "the Republican party passed
the Sherman Anti-Trust Act over Democratic opposition." The records
of Congress, however, show no indications of any opposition at all,
Democratic or other. Of the five men most conspicuous in framing the
law, three were Republicans and two were Democrats. In the Senate only
one senator voted against the passage; in the House two hundred and
forty-two votes were cast in favor of the act, and not a single one was
cast against it. The whole debate was notable for its seriousness and
its dignity; one or two Democrats did suggest that a revision of the
tariff might help to curb the trusts; but that was the only partisan
note struck. Congress keenly appreciated the issues raised by the trust
problem and the necessity of taking action that would be beneficial and
permanent. Everybody realized, also, the inherent difficulties of the
situation. The debates in the Senate on this issue, far from indicating
a scrappy investigation, furnish material for a liberal education in
the constitutional questions involved in dealing with monopolies.
Senator Hoar, in preparation for the work, studied the history of
legislation concerning monopolies from the time of Zeno. One of the
sections in the bill--that providing that a successful litigant against
a trust can recover three times the damages suffered from it--Mr. Hoar
incorporated from a statute on monopolies passed in the reign of James
I.
[Illustration: SAMUEL GOMPERS, FOR TWENTY-FIVE YEARS PRESIDENT OF THE
FEDERATION OF LABOR. MR. GOMPERS DEMANDS AN AMENDMENT OF THE SHERMAN
ANTI-TRUST ACT THAT WOULD MAKE LEGAL THE INTERSTATE BOYCOTT]
_Sherman Act Intended to Apply to Labor Unions_
Public-domain text, read in full here on John Shaqi.
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