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.If this tendency is to prevail it will not be long before a State will be a mere geographical expression”; Uncle Sam’s“Big Stick” For Interstate Corporations, Baltimore Sun, Dec.23, 1904, p.4.Taft did not shy from antitrust controversy.He brought more antitrust litigation than Roosevelt and had considerably more faith in the courts, as a number of hisadministration’s successful antitrust prosecutions attest; Wiebe, The Search for Order, p.203.6.For Democratic platforms, see The American Presidency Project, Political Party Platforms for 1896, 1900, 1904, 1908 and 1912, available at: http://www.presidency.ucsb.edu/platforms.php.7.Tsuk Mitchell, Architect of Justice (analyzing the role of groups andcollective institutions in Progressive America).8.Lamoreaux, The Great Merger Movement in American Business;United States v.American Tobacco Co., 221 U.S.106 (1911); Standard Oil Co.of New Jersey v.United States, 221 U.S.1 (1911); Hovenkamp, Enterprise and American Law; Chapter Seven; Grant, Money of the Mind, pp.113–15; Carosso, Investment Banking in America, pp.84–85; Peach, The Security Affiliates of Na-tional Banks.9.Bullock, Trust Literature, p.168.I have, except where technically necessary or when quoting, tried to avoid as much as possible the word “trust” to describe the giant corporations, because for the most part this is a legal misnomer.It is worth noting the fact that before the merger wave of the late 1890s, trusts—whether in their original legal form or in the form of holding companies or corporate consolidations—werefew and far between.The only truly signifi cant technical trusts prior to the enactment of the Sherman Act, or during the period from 1879 to 1896, to which Sea-ger and Gulick refer as “the period of the trust proper” (Seager & Gulick, Trust and Corporation Problems, p.49), were the Standard Oil Trust, the Sugar Trust,• 312 •Notesthe Cotton-Seed Oil Trust, the Linseed Oil Trust, the National Lead Trust and the Whiskey Trust.Other dominant business groups during this period, organized either as corporations or holding companies, were Diamond Match Company, AmericanTobacco Company, United States Rubber Company, General Electric Companyand United States Leather Company.The real proliferation of giant corporations(other than, of course, the railroads), began to take place only at the end of the 1890s, and when they began to explode, they typically took the form either of consolidated corporations or holding companies.10.Statutes at Large of the United States of America from March, 1897to March 1899, vol.30, ch.466; Gould, The Presidency of William McKin-ley, pp.161–64.McKinley evidently had no particular interest in the trusts while in Congress, and his fi rst statement as president about the issue (and perhaps his only statement) was made to Congress as part of the presidential campaign of 1900.Even when he recognized the political need to address the issue of trusts he chose not to, as, for example, in his fi nal speech on Sept.5, 1901 in Buffalo, New York, the day before he was shot; President M’Kinley Favors Reciprocity, New York Times, Sept.6, 1901, p.1; Leech, In the Days of McKinley, pp.35, 119, 547, 575–76.Rhodes, The McKinley and Roosevelt Administrations, only mentions trusts once in theportion of the book dealing with McKinley’s administration, and that in connection with Bryan’s opposition to the trusts.Only McKinley’s hagiographer writes that he clearly saw the dangers posed by trusts and was working hard to develop legislation, but even this writer dates McKinley’s concern to be as late as the 1899 to 1900 period; Olcott, The Life of William McKinley, vol.2, pp.298–300.11.Salvato, Historical Note; Kolko, The Triumph of Conservatism, pp.66, 129; Sklar, The Corporate Reconstruction of American Capitalism, pp.204et seq.; Weinstein, The Corporate Ideal in the Liberal State, pp.8, 9; Jensen, The National Civic Federation, pp.23, vii–viii and passim.The work of the NCFwill be discussed more thoroughly in Chapters Seven and Eight.12.Chicago Conference on Trusts, pp.5, 12–26; Trust Conference Begun,New York Times, Sept.14, 1899, p.1.13.Chicago Conference on Trusts, p.7; the delegates are identifi ed by af-fi liation and name at pp.12–26.14.Chicago Conference on Trusts, Jenks at p.27, Wooten at p.42; TrustConference Begun, New York Times, Sept.14, 1899, p.1.15.Chicago Conference on Trusts, Bonaparte at p.620, Bryan at p.496.16.Chicago Conference on Trusts, Howe at pp.623–25.17.Chicago Conference on Trusts, p.626.18 [ Pobierz całość w formacie PDF ]
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.If this tendency is to prevail it will not be long before a State will be a mere geographical expression”; Uncle Sam’s“Big Stick” For Interstate Corporations, Baltimore Sun, Dec.23, 1904, p.4.Taft did not shy from antitrust controversy.He brought more antitrust litigation than Roosevelt and had considerably more faith in the courts, as a number of hisadministration’s successful antitrust prosecutions attest; Wiebe, The Search for Order, p.203.6.For Democratic platforms, see The American Presidency Project, Political Party Platforms for 1896, 1900, 1904, 1908 and 1912, available at: http://www.presidency.ucsb.edu/platforms.php.7.Tsuk Mitchell, Architect of Justice (analyzing the role of groups andcollective institutions in Progressive America).8.Lamoreaux, The Great Merger Movement in American Business;United States v.American Tobacco Co., 221 U.S.106 (1911); Standard Oil Co.of New Jersey v.United States, 221 U.S.1 (1911); Hovenkamp, Enterprise and American Law; Chapter Seven; Grant, Money of the Mind, pp.113–15; Carosso, Investment Banking in America, pp.84–85; Peach, The Security Affiliates of Na-tional Banks.9.Bullock, Trust Literature, p.168.I have, except where technically necessary or when quoting, tried to avoid as much as possible the word “trust” to describe the giant corporations, because for the most part this is a legal misnomer.It is worth noting the fact that before the merger wave of the late 1890s, trusts—whether in their original legal form or in the form of holding companies or corporate consolidations—werefew and far between.The only truly signifi cant technical trusts prior to the enactment of the Sherman Act, or during the period from 1879 to 1896, to which Sea-ger and Gulick refer as “the period of the trust proper” (Seager & Gulick, Trust and Corporation Problems, p.49), were the Standard Oil Trust, the Sugar Trust,• 312 •Notesthe Cotton-Seed Oil Trust, the Linseed Oil Trust, the National Lead Trust and the Whiskey Trust.Other dominant business groups during this period, organized either as corporations or holding companies, were Diamond Match Company, AmericanTobacco Company, United States Rubber Company, General Electric Companyand United States Leather Company.The real proliferation of giant corporations(other than, of course, the railroads), began to take place only at the end of the 1890s, and when they began to explode, they typically took the form either of consolidated corporations or holding companies.10.Statutes at Large of the United States of America from March, 1897to March 1899, vol.30, ch.466; Gould, The Presidency of William McKin-ley, pp.161–64.McKinley evidently had no particular interest in the trusts while in Congress, and his fi rst statement as president about the issue (and perhaps his only statement) was made to Congress as part of the presidential campaign of 1900.Even when he recognized the political need to address the issue of trusts he chose not to, as, for example, in his fi nal speech on Sept.5, 1901 in Buffalo, New York, the day before he was shot; President M’Kinley Favors Reciprocity, New York Times, Sept.6, 1901, p.1; Leech, In the Days of McKinley, pp.35, 119, 547, 575–76.Rhodes, The McKinley and Roosevelt Administrations, only mentions trusts once in theportion of the book dealing with McKinley’s administration, and that in connection with Bryan’s opposition to the trusts.Only McKinley’s hagiographer writes that he clearly saw the dangers posed by trusts and was working hard to develop legislation, but even this writer dates McKinley’s concern to be as late as the 1899 to 1900 period; Olcott, The Life of William McKinley, vol.2, pp.298–300.11.Salvato, Historical Note; Kolko, The Triumph of Conservatism, pp.66, 129; Sklar, The Corporate Reconstruction of American Capitalism, pp.204et seq.; Weinstein, The Corporate Ideal in the Liberal State, pp.8, 9; Jensen, The National Civic Federation, pp.23, vii–viii and passim.The work of the NCFwill be discussed more thoroughly in Chapters Seven and Eight.12.Chicago Conference on Trusts, pp.5, 12–26; Trust Conference Begun,New York Times, Sept.14, 1899, p.1.13.Chicago Conference on Trusts, p.7; the delegates are identifi ed by af-fi liation and name at pp.12–26.14.Chicago Conference on Trusts, Jenks at p.27, Wooten at p.42; TrustConference Begun, New York Times, Sept.14, 1899, p.1.15.Chicago Conference on Trusts, Bonaparte at p.620, Bryan at p.496.16.Chicago Conference on Trusts, Howe at pp.623–25.17.Chicago Conference on Trusts, p.626.18 [ Pobierz całość w formacie PDF ]