The New NationPaxson, Frederic L. (Frederic Logan)
History
The New Nation
Paxson, Frederic L. (Frederic Logan)
United States -- History -- 1865-1921
The Fifty-first Congress, convening in December, 1889, took up with
enthusiasm the mandate of the election, as the Republicans saw it, to
revise the tariff in the interest of protection. It chose as Speaker
Thomas B. Reed, of Maine, and revised its rules so as to expedite
legislation. William McKinley prepared a revision of the tariff in the
House, while another Ohioan, John Sherman, took up the matter of the
trusts in the Senate.
The Sherman Anti-Trust Law was enacted in July, 1890, after nearly
ten years of general discussion. Although formulated by
Republicans--Sherman, Edmunds, and Hoar--it was not more distinctly
a party measure than the Interstate Commerce Act had been. It relied
upon the interstate commerce clause of the Constitution as its
authority to declare illegal "every contract, combination in the form
of trust or otherwise, or conspiracy, in restraint of commerce among
the several States, or with foreign nations," and it provided suitable
penalties for violation. The most significant debate in connection
with it occurred upon an amendment offered by Representative Richard
P. Bland, of Missouri, who desired to extend the scope of the
prohibition, specifically, to railroads. The Senate excluded the
amendment on the ground that the law was general, covering the railroads
without special enumeration. The full meaning of the law remained in doubt
for nearly fifteen years, for few private suitors invoked it and the
Attorneys-General were not hostile to the ordinary practices of business.
A great financial depression which appeared in 1893 acted well as a
temporary deterrent of trusts. There was a suspicion that the law had
been intended not to be enforced, but to act as a popular antidote to
the McKinley Tariff Bill which was pending while it passed.
There were two reasons for a revision of the tariff in 1890. The
surplus, still a reason, added $105,000,000 in 1889, and continued to
embarrass the Treasury with a wealth of riches. Secondly, the election
of 1888 had gone Republican, and party leaders chose to regard this as a
popular condemnation of Cleveland and tariff reform, and a popular
mandate for higher protection, in spite of the fact that more Americans
voted for Cleveland than for Harrison. A third reason, alleged by the
opposition, was the necessity of fulfilling the pledges given by Quay
and the campaign managers to the manufacturers who contributed to the
campaign fund,--manufacturers who were parodied as "Mary":--
"Our Mary had a little lamb,
Her heart was most intent
To make its wool, beyond its worth,
Bring 56 per cent."
Public-domain text, read in full here on John Shaqi.
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