The Sherman Act And the New Anti-Trust Legislation
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In other cases this is not so clear. At any rate, if federal law is still to condemn all or some of these things it should take the form of separate and carefully drawn statutes. Moreover, practices like those condemned in the Eastern States Lumber Association case, mentioned above, probably fall within the juris- diction of the new Federal Trade Commission.
In the second place, the apphcation of the Sherman act to rail- roads is inconsistent with the standards of pubhc policy embodied in the I...nterstate Commerce act. We regulate railroad rates and services on the assumption that railroads are natural monopolies, and that combinations or rate agreements are inevitable. But at the same time we condemn railroad combinations and rate agree- ments, and (as in the New Haven case) bring criminal indictments against the men responsible for such combinations.^ From rail- roads we exact the observance of two mutually inconsistent stand- ards of morality. The real evils in railroad combinations are matters of corporation finance and of the equilibrium of the equities of various sorts of bondholders and stockholders.
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To quickly assess the difficulty of the text, read a short excerpt:
In other cases this is not so clear. At any rate, if federal law is still to condemn all or some of these things it should take the form of separate and carefully drawn statutes. Moreover, practices like those condemned in the Eastern States Lumber Association case, mentioned above, probably fall within the juris- diction of the new Federal Trade Commission.
In the second place, the apphcation of the Sherman act to rail- roads is inconsistent with the standards of pubhc policy embodied in the I...nterstate Commerce act. We regulate railroad rates and services on the assumption that railroads are natural monopolies, and that combinations or rate agreements are inevitable. But at the same time we condemn railroad combinations and rate agree- ments, and (as in the New Haven case) bring criminal indictments against the men responsible for such combinations.^ From rail- roads we exact the observance of two mutually inconsistent stand- ards of morality. The real evils in railroad combinations are matters of corporation finance and of the equilibrium of the equities of various sorts of bondholders and stockholders.
What to read after The Sherman Act And the New Anti-Trust Legislation?
You can find similar books in the "Read Also" column, or choose other free books by Young, Allyn Abbott, 1876-1929 to read onlineMoreLess
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