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Nimang Toseph

Pamphlets

on railroads

1899-1904,

HEIOS

N5

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THE LIMITATION OF COMPETITION

THROUGH COMBINATION

AS ILLUSTRATED IN

RAILROAD SELF-GOVERNMENT.

By JOSEPH NIMMO, JR., LL. D.

MR. CHAIRMAN AND GENTLEMEN OF THE CONVENTION :

The important question of public policy which we are here to discuss is, in its essential features, almost as old as the history of human government. It is the ever recurring question as to the manner in which and the extent to which combination or aggregated capital may beneficially or without detriment to the public interests operate in restraint of competition. The discussion of a question so comprehensive and so radical, inevitably touches upon the elementary.

The only universal laws of which we have knowledge are the laws of the Creator. No statute of His conflicts with another. Divine law is, in and of itself, the mani. festation of an omnipotent, omniscient and omnipresent Ruler. Absolute perfection characterizes His law. The laws of human society, on the other hand, are marked by the infirmities which attach to a world ruled by man and his passions. Errare est humanum. Human laws conflict with each other in innumerable ways

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