Presidents -- United States -- Messages; United States -- Politics and government -- Sources
President Harrison in his annual message of December 3, 1889, says: Earnest
attention should be given by Congress to a consideration of the question
how far the restraint of those combinations of capital commonly called
"trusts" is matter of Federal jurisdiction. When organized, as they often
are, to crush out all healthy competition and to monopolize the production
or sale of an article of commerce and general necessity they are dangerous
conspiracies against the public good, and should be made the subject of
prohibitory and even penal legislation. An act to protect trade and
commerce against unlawful restraints and monopolies was passed by Congress
on the 2d of July, 1890. The provisions of this statute are comprehensive
and stringent. It declares every contract or combination, in the form of a
trust or otherwise, or conspiracy in the restraint of trade or commerce
among the several States or with foreign nations, to be unlawful. It
denominates as a criminal every person who makes any such contract or
engages in any such combination or conspiracy, and provides a punishment by
fine or imprisonment. It invests the several circuit courts of the United
States with jurisdiction to prevent and restrain violations of the act, and
makes it the duty of the several United States district attorneys, under
the direction of the Attorney General, to institute proceedings in equity
to prevent and restrain such violations. It further confers upon any person
who shall be injured in his business or property by any other person or
corporation by reason of anything forbidden or declared to be unlawful by
the act, the power to sue therefore in any circuit court of the United
States without respect to the amount in controversy, and to recover
threefold the damages by him sustained and the costs of the suit, including
reasonable attorney fees. It will be perceived that the act is aimed at
every kind of combination in the nature of a trust or monopoly in restraint
of interstate or international commerce.
The prosecution by the United States of offenses under the act of 1890 has
been frequently resorted to in the Federal courts, and notable efforts in
the restraint of interstate commerce, such as the Trans-Missouri Freight
Association and the joint Traffic Association, have been successfully
opposed and suppressed.
Public-domain text, read in full here on John Shaqi.
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