TESTIMONY. TRUSTS AND INDUSTRIAL COMBINATIONS. GENERAL AND MISCELLANEOUS PROBLEMS. ATLANTA, GA., March 20, 1900. TESTIMONY OF JACK J. SPALDING, ESQ., Lawyer, Atlanta, Ga. The subcommission of the United States Industrial Commission met at the Kimball Hotel at 9.25 a. m., Senator Kyle presiding. Jack J. Spalding, esq., lawyer, being duly sworn, testified as follows: Q. (By Mr. SMYTH). Will you give your name to the secretary?-A. Jack J. Spalding. Q. Your place of residence.-A. This city. Q. And your occupation.-A. Lawyer. Q. I believe you were to be examined on the subject of trusts. If you have a statement to make to the commission we shall be very glad to hear you, and we will ask you questions later.-A. I have not prepared any. Q. Have you a copy of our syllabus? A. Yes; I have no written statement. I had supposed that the particular phases of this subject that you wanted to develop would be asked about, but I have some views on that subject that I can express in a rather disjointed manner. Q. Do you think trusts are inimical to the welfare of this country?-A. Yes; I think they are. Q. Have you thought over any plan by which the evil in them could be curbed, while the good, if there is any good, could be preserved?-A. Well, yes. Q. Will you give us that plan? I suppose you recognize the fact that trusts have come to stay, as far as you can see. (No response by the witness.) Q. (By Mr. RATCHFORD.) Would it not be well, Mr. Chairman, for the witness to state why he believes them to be injurious? CAUSES AND EFFECTS OF TRUSTS. I Q. (Mr. SMYTH.) Please state why you believe them to be injurious.-A. My idea is that the general term "trust" is a sort of indifferent term, and when we speak of a trust my idea is that we refer merely to combinations and pools that result in snuffing out competition. I think people look on it in the same way, and the effect on the public is just the same, whatever machinery is used, when that result is brought about. Furthermore, trusts are rather a manifestation and effect than a cause. think that trusts arise from the legislation that has been enacted by the dominant party in this country for the past twenty-five years; that the effect of the protective tariff and the centralized legislation that has been enacted has been inevitably to produce trusts, and that they are the natural, logical outgrowth of that underlying That is the reason why they have come to stay. It is because the cause under them inevitably and logically produces them. canse. 752-1 1 |