trade,
etc., below a common standard figure, or
to keep the price at a fixed or graduated figure,
or to preclude free or unrestricted competition among
themselves or others, or to pool or unite any interest.
To much the same effect is the statute of South Dakota
(1890, 154, 1), but it also denounces any combination
which tends to advance the price to the consumer of
any article beyond the reasonable cost of production
or manufacture. The Louisiana (1890, 36) and
New Mexico laws (1891, 10) are aimed particularly at
attempts to monopolize, while the Oklahoma statute
(6620) was aimed only at corporations, and the broad
wording of the Federal act passed this year should
be noted: “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” (U.S., 1890, 647, 1); and in the second
section: “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 under
this act.” And in the third section:
“Every person who shall make any such contract,
or engage in any such combination or conspiracy, shall
be deemed guilty of a misdemeanor.” The
rest of the legislation provides penalties, manner,
and machinery for the enforcement of these laws by
prosecuting attorneys,
etc., with a usual allowance
to informants; and it may be here noted that one great
trouble has resulted from this machinery, for it provided
injunction remedies and dissolution, which may well
be too severe a penalty, and, furthermore, dispenses
with a jury and throws unnecessarily upon the court—even
now, as in the Standard Oil case, a distant high court
of appeal—the burden of determining a complicated
and voluminous mass of fact. Our ancestors never
would have suffered such matters to be adjudged by
the Chancellor!
South Dakota has an extraordinary statute making the
agents for agricultural implements, etc., guilty
of a criminal offence when their principals refuse
to sell at wholesale prices to dealers in the State
(S.D., 1890, 154, 2). But beside these remedies,
there is a frequent statute dating from the earliest
Kansas act of 1889, that debts for goods sold by a
so-called trust, contracts made in violation of the
law, will not be enforced in favor of the offending
person or corporation. That is to say, the person
buying the goods of a trust may simply refuse to pay
for them; and the constitutionality of this legislation
has recently been sustained by a divided opinion in
the Supreme Court of the United States.[1] The possession
or ownership of trust certificates is in some States
made criminal. Corporations offending against
the statute are to have their charters taken away,
or, if chartered in other States, to be expelled from
the State. All contracts or agreements in violation
of any of these statutes are, of course, made void.