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immensely difficult economic problem, rather than a legal problem. A plan must be devised which will at the same time effectively restore competition and avoid needless hardship to the owners or stockholders of the combination and undue shock to the business world.

Finally, the Trade Commission under the new law (§ 6) may on its own initiative investigate the manner in which any decree against a defendant in a suit brought by the government to restrain violation of the antitrust acts is being carried out. Upon the application of the attorney general it is its duty to make such an investigation. At present it too often happens that when a court has ordered the dissolution of a combination, or issued some other order for the enforcement of the anti-trust laws, very little attention is given by any one to the question whether the decree is actually obeyed. The commission should be able to render a valuable service in this direction.

The Trade Commission is also directed to report to Congress from time to time its recommendations for further legislation regarding corporations, combinations and trade practices. There is every reason to believe that the commission will have a great and beneficial influence upon future legislation. If Congress had gone no farther at the present session than to create such a commission, give it powers of investigation and call upon it for recommendations regarding future action, the trust legislation would have been well worth while. The ordinary methods of inquiry on which Congress bases legislation are by no means adequate to a problem as vast and complex as the trust problem. The time is not yet ripe for the enactment by Congress of a mass of details regarding com

binations, corporations and competitive methods. In fact, a good deal even of the legislation actually adopted at this session has been, as already shown, a trifle immature. It is better to proceed slowly and surely than to make blunders.

The creation of the Trade Commission is, therefore, a great forward step. All parties in Congress were alike in favoring such a commission. Public sentiment throughout the country demanded it. The trusts and corporations were in general glad to see it established. An inquiry sent out by the National Chamber of Commerce to its constituents, consisting of trade organizations throughout the country, elicited an almost unanimous recommendation of such a commission. It matters not so much what its particular powers are at the outset, or what are for the time being the provisions of law as to trusts, combinations and trade practices. The important thing is to have a body of proper dignity devoted to the expert consideration of these great problems.1

1 It is not necessary here to discuss the important new provisions of the anti-trust act with reference to labor or those with reference to the use of the injunction and the procedure for contempt of court. While the latter will have some bearing on cases against trusts and corporations, their chief significance is with respect to labor cases.

APPENDIX

FEDERAL LAWS RELATING TO TRUSTS AND

ALLIED MATTERS

I. SHERMAN ANTI-TRUST LAW

Approved July 2, 1890

An Act to protect trade and commerce

against unlawful restraints and monopolies

SEC. 1. Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal. Every person who shall make any such contract, or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the

court.

SEC. 2. Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

SEC. 3. Every contract, combination in form of trust or otherwise, or conspiracy, in restraint of trade or commerce in any Territory of the United States or of the District of Columbia, or in restraint of trade or commerce between any such Territory and another, or between any such Territory or Territories and any State or States or the District of Columbia, or with foreign nations, or between the District of Columbia and any State or States or foreign nations, is hereby declared illegal. Every person who shall make any such contract or engage in any such combination or conspiracy shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.

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