Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-02

aim Is not to do away with corporations; on
the contrary. these big aggregadons are an
Inevitable development Of modern Indus
trialism, and the effort to destroy them
would be futile unless accomplished In ways
that would work the utmost mischief TO
the entire body polite. We can do nothing
of good in the way of regulating and su-
pervising these corporations until we NIX
clearly in our minds that we are not at
lacking the corporations. but endeaVorlns
to do away with any evil in them. we
are not hostile to them; we are merely de-
termned that they shall be so handled as
to subserve the public good We draw the
line against misconduct. not against wealth..
The capitalist who, alone or In conjunction
with his fellows, performs some great IN
dustrtal feat by which he wins money is
welldoer. not a wrongdoer. provided only
he works in proper and legitimate INES
We wish to favor such a man when ne does
we'll We wish to supervise and control MS
actions only to prevent him from doing III.
Publicity can do no harm to the honest
corporation; and we need not be overtender
about sparing the dishonest corporation.
Great Care Necessary.
In curbng and regulating the combina-
tons OF capital which are or may become
Injurious to the public we must be careIul
not to stop the great enterprises Which nave
legitfmately reduced the cost of productlon'
not to abandon the place which our coun-
try has won in the leadership of the inter-
national industrial world, not to strike
down wealth with the result of closing 1ac-
tories and mines of turning the wage
worker idle in the streets and leaving the
farmer without a market for what ne
grows. InsistenCe upon the Impossible
means delay in achieving the possible, ex-
actly as on the other hand, the stubborn
defense alike of what is good and what is
bad in the existing system, the resolute
effort to obstruct any attempt at better
ment betrays blindness to the historic truth
that wise evolution is the sure safeguard
against revolution.
The Power of Congress.
No more important subject can come be-
fore the Congress than this of the regula-
ton of interstate business. This country
can not afford to sit supine on the plea
that under our peculiar system of govern
ment we are helpless in the presence of the
new conditions, and unable to grapple with
them or to cut out whatever of evil has
arisen in connection with them. The power
of the Congress to regulate interstate COM
merce is an absolute and unqualified grant,
and without limitations other than those
prescribed by the Constitution. The Con-
gress has constitutional authority to make
all laws necessary and proper for executing
this power, and l am satisfied that this
power has not been exhausted by any legis-
lation now on the statute books. 1t is evil
dent, therefore, that evils restrictive of
commercial freedom and entailing restraint
upon national commerce fall within the
regulative power of the Congress. and that
a wise and reasonable law would be
necessary and proper exercise Of Congress
sional authority to the end that such evils
should be eradicated.
l believe that monopolies, unjust discrimi-
nations, which prevent or cripple competi-
ton, fraudulent overcapitalization. and
other evils in trust organizations and prac-
tees which injuriously affect interstate
trade can be prevented under the power of
the Congress to regulate commerce with
foreign nations and among the several
States" through regulations and require
merts operating directly upon such COM
merce, the instrumentalities thereof, and
those engaged therein.
Amend Constitution if Necessary.
l earnestly recommend this subject to the
consideration of the Congress with view
to the passage of a law reasonable in its
provisions and effective in its operations
upon which the questions can be finally adj
Indicated that now raise doubts as to the
NJ cessity of constitutional amendment. If
IL prove impossible to accomplish the pur-
poses above set forth by such law, then,
ASSN edly, we should not shrink from
amending the Constitution so as to secure
beyond peradventure the power sought.
The Congress has not heretofore made
any appropriation for the better enforce
ment of the antitrust law as 1t now stands
Very much has been done by the Depart
ment of Justice in securing the enforce
ment of this law, but much more could be
done if Congress would make special APP
preparation for this purpose, to be expended
under the direction of the Attorney Cen
eIal
Tariff Reduction Not Remedy.
One proposition advocated has been the
reduction of the tariff as means of reach
ing the evils of the trusts which fall within
the category 1 have described. Not merely
would this be wholly ineffective, but the di-
version of our efforts in such a direction
would mean the abandonment Of all intelli-
gent attempt to do away with these evils.
Many of the largest corporations, many OF
those which should certainly be included
IN any proper scheme of regulation, would
not be affected in the slightest degree by
a change in the tariff, save as such change
interfered with the general prosperity of
the country. The only relation of the tariff
to big corporations as a whole is that the
tariff makes manufactures profitable, and
the tariff remedy proposed would be in eff
feet simply to make manufactures unprofit-
able. To remove the tariff as punitive
measure directed against trusts would In
evitaby result in ruin to the weaker COM
petitors who are struggling against them.
Our aim should be not by unwise tariff
changes to give foreign products the ad
vantage over domestic products, but by
proper regulation to give domestic compe-
tition a fair chance; and this end cannot
b. reached by any tariff changes which
would affect unfavorably all domestic COM
petitors, good and bad alike. The Ques-
ton of regulation of the trusts stands
apart from the question of tariff revision.
Economic Stability Necessary.
Stability of economic policy must always
be the prime economic need of this country.
This stability should not be fossiliza ton.