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Sherman Act (United States)

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Hearings before the Committee on Interstate Commerce

Hearings before the Committee on Interstate Commerce

Part four of Hearings before the committee on interstate commerce starts part way through a hearing in which Mr. Martin answers questions from the senators regarding the dissolution of trusts and the consequences to stockholders. A statement of Andrew Jaritz begins on page 174 in which Jaritz presents his ideas and conclusions on the permanent and progressive habits of economic legislation and the need for economic principles. Jaritz suggests the government frame trusts within the context of the economy and work for the people to set reasonable prices and prevent waste by the producers and the consumers. The government could then profit from the savings and continue regulating and enforcing economic legislation by forming a new department of economic policy.

Collection

Library of Congress Manuscript Division

Creation Date

1911-11-17

Trusts

Trusts

The highlighted article states that as long as “combinations of capital,” or trusts, break the law, limit trade and competition, and defraud customs, they must be brought to justice. Law suits are not enough, a new law or amendment to the Sherman Act is needed to provide the government with complete control to apply the law and leave no room for evasion. Other topics discussed in this clipping include ideals of character, peace, Uncle Sam, and measles.

Collection

Library of Congress Manuscript Division

Creation Date

1911-11-18

Letter from Albert H. Walker to Theodore Roosevelt

Letter from Albert H. Walker to Theodore Roosevelt

Albert H. Walker tells Theodore Roosevelt that two powerful men hired him to draw up a bill regarding their ideas around the Sherman Act. Walker believes Roosevelt has similar views and therefore asks Roosevelt’s opinion and attaches the bill. The bill calls for the creation of the Sherman Law Commission with nine commissioners who will oversee the licensure of those engaging in trade and commerce worth over $10,000 in a day and ensure such organizations are not participating in restraint of trade. The commission will also set prices of goods bought and sold by licensees.

Collection

Library of Congress Manuscript Division

Creation Date

1911-12-16

Concentration in industry

Concentration in industry

Charles Richard Van Hise speaks of the nuances present in monopolies and unrestricted competition in the American economy. Van Hise gives the railroads system as an example of successful use of commissions with no price competition. His thesis proposes there can be great economic advantage to maintain a concentration of industry and therefore those corporations should not be broken up by enforcing the Sherman Act. Instead, commissions should be created to determine prices and Van Hise provides a list of powers these commissions should have and how to achieve success.

Collection

Library of Congress Manuscript Division

Creation Date

1911-11-09

Letter from Charles G. Washburn to John W. Weeks

Letter from Charles G. Washburn to John W. Weeks

Charles G. Washburn writes to John W. Weeks about their mutual concerns related to the Department of Justice’s enforcement of the Sherman Anti-Trust Act. Washburn summarizes the history of the Sherman Act. He discusses the effect of the 1897 Trans-Missouri case and efforts by politicians, including Theodore Roosevelt, to amend the Sherman Act. Washburn also describes a number of cases which have gone to court under the Sherman Act. 

Collection

Library of Congress Manuscript Division

Creation Date

1911-09-28

Letter from Charles J. Bonaparte to Theodore Roosevelt

Letter from Charles J. Bonaparte to Theodore Roosevelt

Attorney General Bonaparte sent President Roosevelt a draft of the telegram to United States District Attorney N. M. Ruick. Bonaparte shares his thoughts about the intentions of the press in attacking him and gives an update on the International Harvester Company trust prosecution. Additionally, Bonaparte comments on Special Assistant Attorney General Ormsby McHarg and the conference of attorneys general.

Collection

Library of Congress Manuscript Division

Creation Date

1907-08-26

We need those clothes badly, Mr. Roosevelt

We need those clothes badly, Mr. Roosevelt

President Roosevelt shakes hands with William Jennings Bryan, who stands beside a shabbily-dressed  “Democratic” woman wearing attire labeled “Bryan’s coat.” Roosevelt holds a number of new, fancier, pieces of clothing, including a “federal license for corporations” dress, “Democratic principles” and “fixed rates” ribbons, “Sherman Law” shoes, and “anti trust law” and “anti rebate law” stockings.

Collection

Library of Congress Manuscript Division

Creation Date

1905-01-27

The value of publicity

The value of publicity

Cartoon depicting President Roosevelt. Roosevelt is holding guns, an ax, three dogs, and several other weapons. The dogs are wearing blankets that have “race,” “antitrust,” and “reciprocity” on them.

Collection

Library of Congress Manuscript Division

Creation Date

1903-03-08

When Congress adjourns

When Congress adjourns

Cartoon showing a depiction of Uncle Sam in front of the U.S. Capitol building. Uncle Sam is holding the Antitrust Law in his hands. To the left is a teddy bear holding a sign with the words “empty bag” written on it. To the right is a man holding a piece of paper with the words “nearly constitutional” on it and “the trust” is also written across his chest. Behind the U.S. Capitol building is an elephant saying “never touched me!” with the word “tariff” written on it.

Collection

Library of Congress Manuscript Division

Creation Date

1903-02-23

Letter from Theodore Roosevelt to Charles J. Bonaparte

Letter from Theodore Roosevelt to Charles J. Bonaparte

President Roosevelt congratulates Attorney General Charles J. Bonaparte for his speech at Chicago, which showed his fair enforcement of the law. His attackers use the press and their wealth to recruit powerful people, like college presidents and corrupt judges, to their side at the cost of the “plain people.” These attackers know that developments like the Hepburn Rate Law, the Sherman Anti-Trust Law, the Pure Food and Drug Act, and protections for workers have been effective against moneyed interests and criminals, but they are often lawyers or editors who answer to the corporations. The individual men to whom he refers are, however, merely puppets, and the true issue should be taken with the offenders who stand behind them and control enormous wealth. He and Bonaparte are not responsible for the economic panic, but are striving for the right “in the spirit of Abraham Lincoln.”

Collection

Library of Congress Manuscript Division

Creation Date

1907-12-23