The United States Since the Civil WarLingley, Charles Ramsdell
History
The United States Since the Civil War
Lingley, Charles Ramsdell
United States -- History -- 1865-1921
In 1893 came the climax of futility. The American Sugar Refining
Company had purchased refineries in Philadelphia which enabled it to
control, with its other plants, ninety-eight per cent. of the refining
business in the country. The government asked the courts to cancel the
purchase on the ground that it was contrary to the Sherman law, and to
order the return of the properties to their former owners. The Supreme
Court declared that the mere purchase of sugar refineries was not an
act of interstate commerce and that it could not be said to restrain
such trade, and it refused to grant the request of the government.
Unhappily the prosecuting officers of the Attorney-General's office had
drawn up their case badly, making their complaint the purchase, not the
resulting restraint. No direct evidence was presented to show that
interstate commerce in sugar and the control of the sugar business and
of prices were the chief objects of the combination. To the public it
seemed that the corporations were impregnable, for even the United
States government could not control them.
BIBLIOGRAPHICAL NOTE
The early history of anti-trust agitation centers about Henry D. Lloyd.
His earliest article, "The Story of a Great Monopoly," is in _The
Atlantic Monthly_ (Mar., 1881); his classic account of trust abuses is
_Wealth against Commonwealth_ (1894); consult also C.A. Lloyd, _Henry
D. Lloyd_ (2 vols., 1912). Early and valuable articles in periodicals
are in _Political Science Quarterly_, 1888, pp. 78-98; 1889, pp.
296-319; W.Z. Ripley, _Trusts, Pools, and Corporations_ (rev. ed.,
1916), is useful; B.J. Hendrick, _Age of Big Business_ (1919), is
interesting and contains a bibliography. Ida M. Tarbell, _History of
the Standard Oil Company_ (2 vols., 1904), is carefully done and a
pioneer work. Other valuable accounts are: S.C.T. Dodd, _Trusts_
(1900), by a former Standard Oil attorney; Eliot Jones, _The Anthracite
Coal Combination in the United States_ (1914); J.W. Jenks, _Trust
Problem_ (1900), contains a summary of the economies of large scale
production; J.W. Jenks and W.E. Clark, _The Trust Problem_ (4th ed.,
1917), is scholarly and complete; J.D. Rockefeller, _Random
Reminiscences of Men and Events_ (1916), is a brief defence of the
Standard Oil Company; W.H. Taft, _Anti-Trust Act and the Supreme Court_
(1914), summarizes a few important decisions on the Sherman law. Edward
Bellamy, _Looking Backward_ (1888), describes an economic Utopia. Early
proposed anti-trust laws, together with the Congressional debates on
the subject are in _Senate Documents_, 57th Congress, 2nd session, vol.
14, No. 147 (Serial Number 4428). No complete historical study has yet
been made of the effects of industrial development, immediately after
the Civil War, on politics and the structure of American society.
* * * * *
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