The times. [volume] (Richmond, Va.) 1890-1903, 1892-02-13
BILLS AGAIN.

- nr;nc,ple and founded on an entire
m;sconcention Of the true relation OF iegisla-
,~ade The TIMES articles 50 far have
49, ,,o,e directed to pointing out the disas-
- consequences that must follow an enact
,uonto Of these bills into law than to On exam'-
ro,ion Of the bills themselves. This morning
va take up the bills themselves. postponing
Cor the present Mr.. Buckles opinion upon
legislation of this character that we announced
Yesterday we should publish to-day.
Mr. Wright's bill provides that no incorpor-
a.ed company 'of which the object. opera
ton. tendency or effect is to prevent compe-
iition in the production or sale OF any
commodity Of consumption or article OF COM
merce. or to lessen the production OF such
commodity or article, or 10 enhance the price
Of such commodity or article. or to confer a
monopoly Of such commodity or article snail
be allowed to establish. or to transact. or carry
on its business in this State under heavy pen
alties. This bill was reported by the House
Committee on Banks. Currency and Com
merce as one that ought 10 pass.
This committee is presumably fairly repre-
sentative of Che opinions entertained IN the
body from which it comes, and we may there
fore assume that il is the opinion Of the House
of Delegates that the principles OF this bill
should be enacted into law. 1t IS true that
the House has referred it back TO the same
committee. but this was hen Mr.. Saunders
offered his bill as a substitute for It, Mr..
Saunders bill containing a full Endorsement
of All that Mr.. Wrights bill contained, but
making il much wider in its scope. Presum-
ably. therefore. when the committee reports
again, the bill that it reports will DO a compo-
site one. containing in itself all the evils here
divided between the two, unless the commit
tee shall wisely see fit to ignore it altogether.
Ii is unquestionable that Mr.. Wrights bill
has a twa1E about it that IS very captivating
to the urpracticed ear. We all love to hear
Of competition in trade being free; the man
who would lessen the production of a prime
commodity would surely feed on human flesh;
none but an ogre would enhance the value OF
food, and as for monopoly 1t should be bau-
ished to the 'demnition bOw-wOws.' While
all this is freely conceded. and while Mr..
Wright's bill is pitched on a key that gives
back echoes of these sounds. the question
still recurs, Ought Dir. Wright's bill.to become
law?
Before answering this question we would
like to know Just what Mr.. Wright means
when he says no Incorporated company shall
do business in Virginia. 'the object, opera
ton, tendency or effect of which is TO CON
FER a monopoly" of any commodity. It's per-
fectly clear that no incorporated OF unincor-
porated company is going to do a business
here with the intention Of coSFERRING a mo
nopoly of that business on some one else.
If there is any monopoly involved IN
the business at all. it is plain the company1s
object will be to ACQUIRE a monopoly Of 1t for
itself. and we therefore assume that Mr..
Wright has Inadvertently used language here
which puts his cart before his horse. and that
he really means 10 Danish companies from
Virginia who baselv intend TO acquire for
themselves a monopoly Of their own business,
which, of course. no charitable and patriotic
business man would desire TO do.
Assuming then that Mr.. Wright really
means that no incorporated company shall
acquire a monopoly of its own business we
take up his bill as thus amended. and We re-
mark first:
If this be good law for incorporated com
panies, it is good law for all, whether incor-
porated companies, unincorporated COM
panies, or individuals. If it DO good
that Incorporated companies shall not DO any
thing tending to interfere with free competi-
ton, nor do anything tending TO lessen the
production Of an article, nor do anything
tending 10 enhance the value of an article.
nor do anything tending TO acquire a mo-
nOpoly Of its own business. il Is clear that no
partnership nor individual should do anything
tending to any one Of these results, because
the quarrel is not with tho party who
does the thing, but with the thing
done, and Mr.. Wright cannot, of
course. expect the Legislature. if it
adopts the principle of his bill, to restrict
its operations to incorporated companies; he
must expect it to apply the bill T. all persons
impartially and alike. Let every merchant
then apply the bill as set out to his own bust
ness and see where he would stand under its
operations. Does he not buy as cheaply as
he can, and does he not always aim at under
selling his rival? If this is 80 does i. not
lldlnl9 tcAh W uDoti'F bDIlIttlbloH ny
finally driving his rival out OF the field
if he is able to buy cheaper than that
rival and undersell him also? And do not the
same acts tend to create for him a monopoly
Ofthe business he is engaged in; And would the
career of a merchant be worth pursuing if lie
is to be forbidden to buy as cheaply as he can
and TO underseil his rival, and finally to be-
come lord and master of his own branch Of
business?
And, shall no merchant. under any circum-
stances, be allowed to do any act tending TO
enhance the price of a commodity or to
lessen its production:
Let us see. Cotton is now down to o.
cents a pound-lower than it has been for
forty years-with a great part Of the South in
q condition of industrial prostration without
a parallel, presumably from an oyerproduc-
ton Of cotton. Shall the merchant be for
hidden to do any act tending to raise the
price of cotton ? Shall he be forbidden
TO aid in causing less cotton and more bread
stuffs TO be raised in the South next wear.
that she may be relieved from her state Of in
dustral depression and put upon her feet
again? We have purposely deferred an
examination of this bill until we could get
..k1.~ ...o...-, Ew~J $500, 20 ,,o,-.. l-