ANTI-MONOPOLY LEGISLATION IN THE UNITED STATES.
Recent legislation against trusts, monopolistic corporations, and railway consolidations is the modern expression of a sentiment which finds its roots far back in English history. Modern monopolies bear little resemblance to those which existed prior to the middle of this century; yet the opposition to the latter, taking shape in constitutions and statutes, has largely influenced public opinion against modern capitalistic combinations. Modern monopolies are the outgrowth of industrial and economic conditions. The older ones were arbitrarily created by kings for the benefit of favorites or for purposes of revenue. It was but natural, therefore, that such monopolies should be vigorously attacked during the long struggles for liberty.[1]
Monopolies, as being opposed to the natural freedom of Englishmen, have been held to be contrary to the famous clauses of the Great Charter which guarantee in essence the rights of habeas corpus and trial by jury—the "essential clauses," as Hallam terms them, which "protect the personal liberty and property of all freemen, by giving security from arbitrary imprisonment and arbitrary spoliation." It was not, however, until the enormous abuses of monopolies arose in the time of Elizabeth, that a definite attack was made upon them. Under the patents which the queen had so lavishly bestowed upon her favorites, the prices of a multitude of articles, most of which were common necessaries of life, became ruinously high. The opposition, after smoldering for many years, burst forth in 1601 with such violence that Elizabeth yielded her cherished prerogative. The evil flourished again under James I., and his last parliament passed an act declaring monopolies and certain
- ↑ For a description of this conflict, see Hallam, Taswell-Langmead, and other writers on English constitutional history.
411
