In the Standard Oil case the Supreme and Circuit Courts found the combination to be a monopoly of the interstate business of refining, transporting, and marketing petroleum and its products, effected and maintained through thirty-seven different corporations, the stock of which was held by a New Jersey company.
Taft describes the Supreme Court's findings in the Standard Oil case regarding monopolistic practices.
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Pledged to support a policy of moderate protection, I can not approve a measure which violates its principle.
There is no doubt but that a commission could be appointed of such unprejudiced and impartial persons, experts in investigation of economic facts, that a great deal of very valuable light could be shed upon the reasons for the high prices…
There may be a change of persons, but the government of the United States is in the people of the United States and there are a good many of the people of the United States in Chicago.
I earnestly hope that Congress will take immediate action in this regard, as recommended by the Secretary of War.
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