national and state commissions has been too fully discussed to require extended mention here. It is sufficient for our purpose to remember that all such legislation was directed principally against pools and combinations, though the prevention of discrimination in rates is no small part of the work of the commissions. Combinations and pools have not been effectually stopped, and many thoughtful men are now seriously questioning the wisdom of the attempts to do so. Mr. Reagan, who was chiefly instrumental in inserting the anti- pooling clause in the Interstate Commerce Law, has recently expressed the opinion that pools and combinations under governmental supervision are desirable.[1]
The activity in the various states against railroad consolidation did much to stimulate public opinion against ordinary commercial combinations which, during all this time, were developing. Legislation against them could not take shape, because it was impossible to foresee the conditions which it was desirable to avoid. From the time of the crisis of 1873, the modern trust had been gradually maturing; but it did not take definite shape until the Standard Oil Trust was formed in 1882. This is not saying that capitalistic monopolies did not exist before that date; for the petroleum market was practically monopolized before the trust was formed. But there were no combinations which could be regarded as "conspiracies in restraint of trade" until the date named. From this time, there were numerous legislative inquiries into the monopoly question, always prosecuted with a desire to preserve freedom of competition. These inquiries Were always endorsed by popular opinion, and were pushed with new vigor when instances of actual crookedness and corruption were revealed.
The first definite constitutional enactment with reference to this question is found in Georgia in 1877. This was in reality directed against the consolidation of competing railroads; but after the rise of capitalistic monopolies, it was found that it could be employed against them also.[2] This provided that;—
