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The people take the same attitude towards the Sherman Law as they take toward the anti-pooling section of the Interstate Commerce Act; they will allow neither of them to be tampered with by Congress. There has been considerable dispute as to the paternity of the Sherman Anti-Trust Law.
Attempts to enforce the anti-pooling clause had led railroads to purchase competing lines, and when the United States Supreme Court pronounced this illegal, the situation became chaotic. The evils of overcapitalization also became an issue of the times.
I came back and consulted the leaders in the Senate, Allison among others, and they advised me to yield; that the country demanded a bill, and I had better accept Reagan's anti-pooling prohibition section than offer no measure at all which I did. Whether it is right or wrong, I do not know even to this day.
The anti-trust laws, the anti-pooling laws, factory legislation of all kinds, anything in short that interferes with the unrestricted use of property by its owner are roundly condemned and violated by evasion.
During two generations, the people of the United States had been passing anti-trust laws and anti-pooling laws, the aim of which was to prevent the business men of the country from getting together. The war crisis not only brought them together, but when they did assemble, it placed the whole political and economic power of the nation in their hands.
As a member of the select committee on Interstate Commerce, Senator Platt rendered much valuable assistance in the investigation and in the passage of the Act of 1887, although he was almost induced finally to oppose it on account of the anti-pooling and the long- and-short-haul sections.
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