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Updated: October 9, 2025
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.
The anti-trust act is the expression of the effort of a freedom-loving people to preserve equality of opportunity. It is the result of the confident determination of such a people to maintain their future growth by preserving uncontrolled and unrestricted the enterprise of the individual, his industry, his ingenuity, his intelligence, and his independent courage.
In the investigation of the Stuyvesant Trust Company, accused of violating the Anti-Trust Law, certain business papers had been secured which proved that Mr. Carey Mayo had taken trust funds, speculated in cotton futures, lost heavily during a panic, and covered his misuse of the company's funds by falsifying his accounts. Evidently it had been a mere speculation not a deliberate theft. Mr.
His legal bete noire, however, was the Sherman Anti-Trust Law as applied to labor unions. For many years he fought vehemently for an amending act exempting the laboring class from the rigors of that famous statute.
A constitutional lawyer might well doubt whether a conviction under the last half of this statute would be sustained. In 1899 eleven of the remaining States adopted anti-trust laws.
This last thing can hardly, however, be said to add to common-law principles. Nevertheless, some of the newer State anti-trust statutes prescribe it so definitely that it may be treated as a modern invention. All this legislation is extremely recent.
It was not until 1894 that Lloyd published Wealth Against Commonwealth, but his pen had been busy constantly between 1881 and 1894. Cf. above, pp. 89-93, on Fourteenth Amendment. The authorship of the Sherman law has often been a source of controversy. Senator John Sherman, as well as other members, introduced anti-trust bills in the Senate in 1888.
It is one of the most gratifying events of my life that my associates in this great and powerful association elected me their president, and I continued in office until the Supreme Court in a momentous decision declared that the railroads came under the provision of the Sherman Anti-Trust Law and dissolved these associations in the East, West, and South.
All had been thought out as calmly as the partition of Poland only, lawyers were required; and ultimately, after the process of acquisition should have been completed, a delicate document was to be drawn up which would pass through the meshes of that annoying statutory net, the Sherman Anti-trust Law.
Trueman makes this mental reservation, then turns to the table and writes a long letter to Martha. He sets the matter before her, tells her he will enter politics, and asks for her advice. Regarding the Committee of Forty, he tells her all he knows, which is to the effect that it has been appointed to investigate the work of the Trusts and to make a full report at the next Anti-Trust Conference.
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