The times. [volume] (Richmond, Va.) 1890-1903, 1892-12-17
THE CONFESSED FAILURE OF THE
INTERSTATE COMMERCE LAW.

In his work on Civilization Mr.. Buckle
has observed, with great acuteness and
Justice, that the most valuable and inn
portant work performed by leg slatures
has been repeating and undoing what
previous legislatures have done. The
most superficial knowledge Of history is
sufficient to prove the truth of this re-
mark. All reforms are efforts to strike
from human thought and energy shaches
that unwise legislation has imposed upon
them. The human mind is unalterably
welded to the belief that progress and
advance flow from legislation whilst the
fact is that progress and advance are
the result Of entire freedom in human
thought and action. For man. or set
OF men acting together. 10 attain the high
est results in any Undertaking whatever,
! he or they must be left entirely alone
free TO concentrate all the capabilities
Of the situation upon the object to be at
tanned. Whilst this process is going on
the lawmaker should hold his hands on
| His function. constable's staff in hand, Is
/
developing enterprises and see TO it that
they are not trespassed on by others
who would purloin from them the results
of their work. When the lawmaker estab-
fishes the regulations necessary for Sc
| curing TO each that which is his, the
lawmaker has exhausted his function and
he has nothing to do then but stand on
one side and see that every man has
full and free opportunity to do the best
that he can with the means at his com
mand This is the true key note OF
political economy. but 1t is one which
communities obstinately refuse to strike.
The lawmaker ever has and the law
maker ever will, thrust his meddlesome
finger into all enterprises which need only
to be left alone to prosper and make
others prosper and the end Of the chap
ter will stlll see the lawmaker striving to
accomplish that impossible feat Of max
ing something out of nothing. or taking
from one man and bestowing upon an
other that which belonged to the first
and was in no sense the property Of the
second.
In recent times the most notable effort
Of the lawmaker to interfere with and
divert the natural laws Of the case is
the Interstate Commerce law, when, by
common consent, has now proved to be
the most signal failure of all his meddle-
some attempts. Having its origin in
determination to prevent competing lines
Of transportation from pooling rates and
dividing out business amongst them
selves. one Of it's most ardent advocates,
Senator Cullom, of Illinois, has now
introduced into Congress a bill which
! provides that it shall be lawful for com
peting lines TO enter into pools, which is
of course an absolute and abject confes-
sion that the whole theory of the thing
is founded in error. 4 priori reasoning
should have taught it's advocates at the
beginning that nothing but mischief could
result from it, but they have now learned
from experience what should have been
obvious at the beginning.
The Interstate Commerce law is an ex-
preston Of the popular understanding of
/ the dogma. Competition is the life of
trade" This dogma is entirely sound in
one sense. but IT is utterly misleading
and dangerous as popularity understood.
1t is entirely true that the interests Of
progress and society demand that all men
shall have equal opportunities, which Is
no more than saying that competition
must be free. But while opportunity for
competition must be left entirely Free 1t
is just as important that competitors
shall be permitted to cease competing
when their interests call for such cessa-
ton. That they shall have this liberty is
lust as necessary TO the interests Of the
public as 1t is to those Of the competitors.
Unbridled and unrestrained competition
must finally destroy some Of the competi-
tors, when the survivor will surely recoup
from the public what the struggle cost
him. 1t is absolutely essential to healthy
progress In business that competing en-
terprisos shall be at liberty to pool their
issues and divide the business out when
their interests call for such action. The
publics guarantee against imposition is
in the fact that they will certainly fur
nish their product whatever It may be,
| at the lowest price consistent with a fair
profit, because the lower 1t is furnished
the more Of 1t will be consumed, and
profit comes from large sales at small
prices rather than from small sales at
large prices.
Senator Cullom's bill was before the
Senate Committee on Transportation a
few days back. when Mr. ingalls,, Presi-
dent OF the Chesapeake and Ohio, made a
more than a million men are in the en-
ploy Of the railroads of this country, and
more than two million men engaged in
the business OF producing and selling
railroad supplies land he might have
added that another enormous body Of the
people have their savings invested in
their securities). These men, with their
families, represent at least one-ifth of the
population of the country. 1t seems alb
solutey astounding that large part of
the rest Of the people should look upon
a business that supports this great body
of the people and is absolutely necessary
to all the rest as the enemy of mankind.
but such is really the fact.
--
THE NICARAGUA CANAL.