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Question: Resolved, That the Sherman Bill, regulating trusts and combinations, is expedient.
Brief for the affirmative: C. R. Getrick and A. B. Halliday.
Best general references: Speech of John T. Sherman in Congressional Record, p. 2524, 1890; Quart. Journ. Econ., vol. 1., p. 28, Oct. '86; Forum, vol. 5, p. 584, July '88; Nation, vol. 47, pp. 125, Aug. 16, '88.
I. Trusts should be regulated since they are injurious. Forum, vol. 5, p. 588; July '88; Nation, vol. 49, p. 186, Sept. 5, '89. a. Economically (1) to the consumer, by abridging competition, and (2) to the producer by using their power to crush all rivals. b. Morally by encouraging gambling and speculation in the community. Nation, vol. 45, p. 68, July 28, '89, p. 70. c. Politically by demoralizing voters and office holders. Quart. Rev. vol. 131, pp. 460-492, Oct. '71.
II. The general government should regulate trusts. a. They could otherwise move to the most favorable State. Ex. Sugar trust from N. Y. to N. J. b. The Federal government alone can deal with resulting interstate and foreign questions. Constitution, Art. I, Sect, VIII, 1, 3, 4, 17, 18. Sect. IX, and c. Alone can make a law having uniform application.
III. The general government can effectually regulate trusts. a. Its power over commerce is unquestioned. b. The jurisdiction of the U. S. Courts is correspondingly extensive. Constitution, Art. I, Sect. VIII, 9. Art. III, Sect. I, II, I, 2 and 3. c. Adequate official prosecutions are already provided. d. The executive power is able to give any necessary assistance in carrying out such laws; Constitution, Art. II, Sec, II, 1, 2. Sec. III.
IV. The Sherman bill provides adequately for the regulation of trusts; Bill in Congressional Record for '90, Vol. 7, p. 3254. a. It reaches all trusts effectively; Bill, Sec. 1, 3. 1. By declaring all Trusts illegal; Bill. Sec. 1, 3. 2. By making punishable all persons entering into Trusts; Bill, Sec. 2. 8. b. It gives the U. S. Circuit Courts complete power over Trusts; Bill, Sec. 4, 5, 6. 1. By giving the Courts power to subpoena all witnesses; Bill, Sec. 5, and 2. To confiscate all property of Trusts; Bill, Sec. 6. c. It gives all persons injured by Trusts three-fold damages and costs, etc.; Bill, Sec. 7.
Brief for the Negative: A. S. Hayes '91, and W. P. Jones '91.
Best general reference: Congressional Record, 1889-90, pp. 2524, 2638, 2680, 3722, 2793, 3249, 4253, 4272, 4657, 6388; Forum, VIII, 61, Sept. 1889. No. Amer. Vol. 147, p. 76, June 1888; Polit. Science Quar. III. 385; 592 Sept., Dec., 1888.
I. Government interference is unnecessary. a Trusts are the result of modern industrial growth; Forum VIII 66. b. in Their effect has been to further and not to hinder the real interests of the general public; Polit. Sci. Quar. III. 395. c. They will disintegrate of themselves if they tend to become injurious to the public interest; Forum VIII. 69. d. Their character is as yet undeveloped and there is no certainty that legislative acts will effect them.
II. Government interference is harmful. a. It increases the popular prejudice against co-operatives; No. Amer. Rev. Vol. 147, p. 76. b. It tends to perpetuate the evils of competition. c. It takes away the means of defence of the employers against combinations of labor; Cong. Record; 6393. d. It tends to present the general adoption of the best appliances.
III. The act is inexpedient. a. It attempts to legislate against something which it cannot define; Cong. Record, pp. 4254; 6391. b. Actions before Circuit Courts entail needless expense on those least able to bear it; Cong. Record p. 3254. c. The heavy penalties of the act are not likely to be enforced by juries.
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