XII The Federal Government and the Trusts 129
Origin and history of Sherman Act. Its meaning now clear. Earlier uncertainties owing chiefly to two questions—What is interstate trade and Does the act enlarge the common-law rule as to what restraints were unlawful? How these questions have been settled. Statement of the common-law rule. Incompatibility between the law and present economic conditions. Suggestions for legal reform. The holding company device, its abuses and the possibility of abolishing it. Advantages of the scheme of federal incorporation.