DEBATE OF APRIL 17, 1890.Question: Resolved, that the present condition of trusts and monopolies calls for government interference.
Brief for the Affirmative.W. Wells, '90, and G. B. Henshaw, 90.
Best general references :- Quart. Journ. Econ., vol 1, p. 28; Unit. Review, vol. 26, pp. 522-29; Nation, vol. 47, pp. 125 6; Forum, vol. 5, p. 588.
I. Something is needed to check the development of trusts and monopolies. (a) Their present condition is critical,-Nation 47, p. 125; Pub. Opinion, Mar. 15, 1890. (b) They are a menace to free competition and our industrial welfare,-Forum, vol. 5, p. 588; Natlon 49, p. 186. (c) They offer inducement for speculation and gambling,- Nation, vol. 45, p. 68; Pub. Opinion, Oct. 26, 1889, p. 70. (d) They have a great and dangerous political power,-Quart. Review, vol. 131, pp. 460-492. (e) They are increasing too rapidly,-Nation, vol. 47, p. 123.
II. Government interference alone is sufficient to meet the evil because,-(a) Competition is useless against this growing evil,- Nation, vol. 48, 108; vol. 47. p. 491. (b) The courts are too slow to be efficacious,-Nation, vol. 47. p. 125.
III. Government interference is constitutional,-Forum, vol. 5, p. 470. No further centralising power is assumed,-S. C. decisions, W. S. Reports, 1876, vol. 94, p. 113; Unit. Review, vol. 26, p. 525.
IV. 1. Government interference is practicable in almilar matters,- c. g. Inter-State Commerce Act: 3rd annual Inter-State Comm. Commission, 1889, pp. 5 23.
2. It should aim at (a) Publicity.- Quart. Journ., vol. 1, p. 28. (b) Responsibility,-Ibid, pp. 29 30.
Brief for the Negative.R. M. Washburne, 90, and M. F. Hill, '90.
Best general references,-Congress Record, 1889 90, pp. 1293-2524, 2638, 2680, 2722, 2793; Polit Science Quarterly, vol, 3, p. 594; Forum, vol. 7, p. 86; No. Amer. Review, vol. 147. p. 76.
I. Government interfence is unnecessary. (a) Trusts and monopolies are the natural evolutions of the economic principle that capital is most effective where most concentrated,-Forum, vol. 8, p. 66. (b) They are the means of lowering prices,-Polit. Science Quar., vol. 3, p. 385. (c) Competition, or the fear of competition, is a competent controlling influence,-Forum, vol. 8, p. 68.
II. Government interference, as exemplified in the Sherman Bill, is harmful. (a) It strikes at the root of competition. (b) It strikes at the root of self preservation, i. e., preservation against combinations of labor.- Forum, vol. 8. p. 65. (c) It strikes at the root of organization. (d) It strikes at the root of co-operation. (e) All these factors are essential in successful production,-Cong. Rec., 1889-90, p. 2639.
III. Government interference and control is less satisfactory than private ownership and control,-Polit. Science Quarterly, vol. 3, p. 572; as in (a) Post Office Department,-Ibid, p. 398,-(b) State Telegraphy,-(c) Interstate Railway Commission.
IV. Government should not interfers because-(a) Trusts are legal,-Polit. Science Quar., vol. 3, p. 621,-(b) Interference is unconstitutional.