Description
From the Forbes Collection, a letter from the Future Chief Justice of the Supreme Court, William H. Taft, decrying a Supreme Court ruling: “…a more unsatisfactory opinion I have never read.”
The letter was written to Charles G. Washburn of Massachusetts, regarding the recent opinion of Justice McKenna in U.S. vs. United States Steel Corporation. In the letter, Taft comments that the court has created an exceptional case in the U.S. Steel decision, not “not furnishing any basis for authority for future action,” regarding monopolies. The decision will force judges to distinguish between “good” and “bad” monopolies. Housed in custom blue cloth folder, printed title on front cover. Letter is on Taft’s personal stationery.
Provenance: Christie’s, The Forbes Collection of American Historical Documents, Part V, Lot 133, 2006.
In United States v. United States Steel Corporation, 251 U.S. 417 (1920), the U.S. Supreme Court ruled that U.S. Steel had not violated the Sherman Antitrust Act. The government alleged that the corporation had attempted to monopolize the steel industry, but the Court found insufficient evidence of unlawful intent or anti-competitive conduct. Justice Joseph McKenna delivered the majority opinion, emphasizing that size and dominance in an industry do not alone constitute a violation of antitrust law. The Court held that U.S. Steel’s formation and practices did not demonstrate a clear and deliberate attempt to restrain trade or monopolize commerce in violation of federal law.
