Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/143



After the Civil War in the United States there was a tremendous development of industry, and the public was impressed with the importance of promoting business in every way. In pursuance of that movement laws were enacted making it more convenient to organize corporations, and other laws were enacted for the assistance of business development. Among them was tariff legislation for the protection of domestic industries in connection with which the cooperation of workers was invited with the promise that so their wages might be elevated. With the growth of domestic business competition became severe, even destructive, and capital took steps to restrict it. The railway companies of the country engaged in some practices that were high-handed. Gradually the public took fright and began to take steps to correct and prevent what seemed to it to be evils. It is possible that the public was right in making up its mind that the railways and industries of the United States were to some extent and in some directions proceeding on lines that were adverse to the common interest. It is probable that even if that were so there would have come corrections by virtue of natural economic laws. With no calm consideration of the subject, however, and probably with but imperfect understanding of it, the people through Congress began to enact restrictive legislation.