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By its judgment every contract and combination in restraint of interstate trade made with the purpose or necessary effect of controlling prices by stifling competition, or of establishing in whole or in part a monopoly of such trade, is condemned by the statute.
We propose to cut $ 130 billion in spending by shrinking departments, extending our freeze on domestic spending, cutting 60 public housing programs down to 3, getting rid of over a hundred programs we do not need like the Interstate Commerce Commission and the Helium Reserve Program. And we're working on getting rid of unnecessary regulations and making them more sensible.
In February 1908, came the Supreme Court decision in the Danbury Hatters' case, which held that members of a labor union could be held financially responsible to the full amount of their individual property under the Sherman Anti-Trust Act for losses to business occasioned by an interstate boycott.
For a concise statement of the results accomplished elsewhere under government ownership I would recommend you to obtain from the Public Printer, and to read, a short pamphlet entitled "Historical Sketch of Government Ownership of Railroads in Foreign Countries," presented to the Joint Committee of Congress on Interstate Commerce by the great English authority, Mr. W. M. Acworth.
"I'll give you a good deal more than fifty cents if you tell me truthfully and right away how you came by that badge." "How much now?" "Two dollars." "The information is yours, Cap," answered the tramp, with an assumed air of grandness. "I found it." "When?" "At one o'clock yesterday morning." "Where?" "By the fence of the big Fly factory down yonder." "You mean the Interstate works?"
The law should be so framed as to give to the Interstate Commerce Commission power to pass upon the future issue of securities, while ample means should be provided to enable the Commission, whenever in its judgment it is necessary, to make a physical valuation of any railroad.
I say again that I think no act can have a better effect directly upon the relations between the employer and employee than this act applying to railroads and common carriers of an interstate character, and I am sure that the passage of the act would greatly relieve the courts of the heaviest burden of litigation that they have, and would enable them to dispatch other business with a speed never before attained in courts of justice in this country.
The law should be so framed as to give to the Interstate Commerce Commission power to pass upon the future issue of securities, while ample means should be provided to enable the Commission, whenever in its judgment it is necessary, to make a physical valuation of any railroad.
We propose to cut $ 130 billion in spending by shrinking departments, extending our freeze on domestic spending, cutting 60 public housing programs down to 3, getting rid of over a hundred programs we do not need like the Interstate Commerce Commission and the Helium Reserve Program. And we're working on getting rid of unnecessary regulations and making them more sensible.
It will be perceived that the act is aimed at every kind of combination in the nature of a trust or monopoly in restraint of interstate or international commerce.
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