The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1901-01-16

binations and considerations as are or
ganized to control prices. create monopo-
lies and destroy competition. or which, in
their practical working, have that effect
IL is not because corporation has
large capital or tranSactS a large and
profitable business that it is an injury to
the community or a menace to its pros
perlty. TN the contrary, the development
and growth of modern business have
made large aggregatiOns Of capital absO-
lutely necessary, and such capital is fair
ly entitled to reasonable and legitimate
profit. The wrong is done and the injury
inflicted when such combinations of capt.
tai are enabled, by means adopted for
that purpose, to control prices, Stitle COM
petition and create a monopoly.
The decisions of the highest courts of
the United States, and of the several
states, leave no room to doubt that the
power Of the legislative branch of the
government is ample to redress all
wrongs so done to society. The decisions
OF the courts are practically uniform to
the effect that no one has any right to
enter into any agreement or combination
when the purpose or the effect is to con-
troll prices or create a monopoly. Fur
Their, it is also apparent that the right to
prohibit such contract or combination is
clear, when the object is 70 control prices,
even if it is not intended unreasonably to
increase prices. 1t is along these lines
that the antitrust legislation Of Congress
known as the Sherman law was enacted,
and also similar legislation by the several
states. With only some unimportant eX-
ceptions, such legislation has been uni
formly sustained by the courts. 1t is
expected that during the present session
the United States Senate will IS the
House bill extending the scope of the
Sherman law, increasing its penalties and
making prosecutions under it mandatory
on the part of United States district at
torneys of the country.
Evils of this kind exist and are in OPP
GRAFTON in every state Their extent and
harmful, effect may or may not have been
exaggerated in the public estimation, but
all must agree that there is much that
ought to receive the consideration of the
legislative branch of the state govern
ment The present law of this state on
the subject is principally contained i'll
chapter 357 of the general laws of 1897.
| regard it as entirely insufficient, either
as remedy or a restraint. In the first
place it only applies to corporations. 1t
is entirely plain. however that partner
ships and individuals may enter into
agreements and combinations, which, in
their results, will be just as disastrous
to the public interests as can any con-
federation of corporations. 1t is not per-
sceived that the corporate character of the
party doing it makes the controlling of
prices, or the creating a monopoly, any
more or less hurtful than if the same
thing was done by a partnership or indi-
vidual.
Powers of the State.
In the next place it only denounces
such combinations when entered into by
corporations organized under the laws of
this state 1t is of course. known that
the whole subject of interstate commerce
is under our system exclusively a mat
ter of federal cogniZance; but surely the
state has some control over the bust
ness transactions within its limits, even
Wy foreign corporations. 1t is a large
subject. The line where the power of the
state ends and the power of the national
government begins may be difficult to de-
fine, but the state having some power in
the matter, the duty of state government
is exactly commensurate with the limits
Of its powers.
Furthermore, the only remedy provided
or suggested by the present statute is a
proceeding in the courts to vacate the
charter and annul the existence Of the
offending corporation. Such q remedy
is to a great extent illusory. Corpora
tions must of necessity act by officers
and agents, and it is submitted that one
efficacious way to control the corpora
tiGn IS to act upon the individuals who
control its affairs and shape its policy
I recommend to the Legislature OF this
l2ting to this subject, and the enact
ment Of such laws as shall promise an
efficient remedy for the great evil and
which at the same time shall not hamper
individual enterprise or take from capital
Unreasonable returns to which it is fair
ly entitled when invested in business en-
terrrise.
l think legislation should be adopted
providing that if any corporation organ
lied under the laws of this or any other
state, or any partnership or association
of individuals. or any individuals shall
enter into, or become a member of, or
party to, any trust, agreement combina-
tion confederation or understanding with
any other corporation, partnership, per-
son, or association of persons. to regu-
late or fix the price of any commodity or
to limit the amount Of any commodity to
be manufactured, mined, sold. transport
ed or placed on sale or disposed of, or to
do. or to refrain from doing. any other
thing with the intent to control and fix
the price of any commodity to be manu-
fact,tfed, mined sold or transported in
this state, such corporation and the Off
GERS and agents thereof. and such part
nership, individuals and association Of
persons, shall be deemed guilty of con-
spiracy to defraud, and shall be subject
to such prosecution and punishment and
such penalty or forfeiture as may, in the
Judgment of the Legislature, be proper.
Such enactment should also contain
suitable provisions making ali such con-
tracts and agreements void, and provide
machinery for the collection of such pen.
alties and forfeitures and for the annul-
ment of the charter of such offender. if a
domestic corporation, and for the for
fixture of the right to do business in this
state if a foreign corporation, and i'm
posing such penalties on the individuals
convicted of violating the law, as may be
appropriate.
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