Fighting the Trusts.

New Zealand Graphic, Volume XXX, Issue XI, 14 March 1903, Page 701

Fighting the Trusts.

The trust war is on in earnest in America. A drastic Bill to Regulate Trusts has been introduced by Senator George F. Hoar, of Massachusetts. Senator Hour’s bill, offered for the serious consideration of Congress, is a sensational siocument. containing measures intended to operate in the restriction of corporations engaged in international and interstate commerce. Its provisions are of the most sweeping character, and it seeks to confer upon the AttorneyGeneral almost autocratic powers. It provides that a fund of 500,000 dol. be appropriated to enable that official to enforce the law; that full publicity must be made of the operations of corporations engaged or to engage in inter national or interstate commerce; that there shall be no discrimination as between persons in sales or transportation, etc. The corporation must sign an undertaking that it will comply with the laws; and the Attorney-General of the United States is to inspect the records of all corporations engaged in interstate commerce. Violation of the Act is punishable by a tine of 5000 dollars, or imprisonment for one year, or both. The third violation will forfeit the corporation’s right to do any interstate business. The proposed measure has been fiercely attacked even by members of both Houses of Congress who are supposed to favour some restriction of the “Trusts.” Whether or not Senator Hoar’s bill becomes law its progress will be watched with interest at this time, when even small dealers are engaged in the struggle between individual effort and consolidations organised for the purpose of controlling certain business interests. In his speech before the Senate Senator Hoar referred to the great transportation and industrial combinations as the American genii who carried out the wishes of the holder of the ring or the lamp—but they must be content to accept the American people as Aladdin. Following the introduction of Senator Hoar’s bill comes the announcement that President Roosevelt has indorsed the recommendations of Attorney-Gene-ral Knox, setting out the best' measures to be taken by Congress to curb illegal combinations of transportations and industrial interests which threaten a monopolistic control of certain industries.