The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-12-03


est corporation.
In eurbing and regulating the combine
tons Of capital which, are or may become
injurious to the public we must be care
full not to stop the great enterprises
which have legitimately reduced the
cost of production, not to abandon the
place which our country has won in the
leadership of the international industrial
world, not to strike down wealth with
the result of closing factories and mines.
of turning the wageworker Idle in the
streets and leaving the farmer without
a market for what he grows. Insistence
upon the impossible means delay IN
achieving the possible. exactly 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 betterment, be-
| trays blindness to the historic truth that
wise evolution is the sure safeguard
against revolution.
No more important subject can come
before the congress than this Of the reg
i ulation of interstate business. This
country cannot afford to sit supine on
the plea that under our peculiar system
| of government we are helpless in the
presence of the new conditions, and un-
able to grapple with them or to out out
whatever Of evil has arisen In connection
with them. The power of the congress
to regulate interstate commerce is an
absolute and unqualified grant, and with
out limitations other than those pre-
scribed by the constitution. The con-
gress has constitutional authority to
make all laws necessary and proper for
executing this power, and I am satisfied
that this power has not been exhausted
! by any legislation now on the statute
books. 1t is evident therefore, that evils
restrictive of commercial freedom and ems
| failing restraint upon national commerce
| fall within the regulative power of the
| congress, and that wise and reasonable
law would be a proper exercise of con-
gressional authority to the end that such
| evils should be eradicated.
1 believe that monopolies unjust dis
| examinations, which prevent or cripple
! competition, fraudulent ver-capitaliza-
ton, and other evils in trust organiza-
tions and practices which iniuriously eff
] feet interstate trade can be prevented I'M
der the power of the congress to ''regu-
| late commerce with foreign nations and
among the several states" through regu-
| latiops and requirements operating di-
rectly upon such commerce. tho instru-
mentalities thereof, and those engaged
therein
1 earnestly recommend this subject to
| the considerat ton of the congress with
| the view to the passage of a law reason
able in its provisions and effective In its
operations, upon which the question can
| be finally adjudicated that now raise
not shrink from amending the constitu-
| al amendment. If 1t prove impossible to.
accomplish the purposes above set forth
| by such a law, then, assuredly, we should
not shrink from amending thee onstitu-
! tion so as to secure beyond preadventure
| 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
department of justice in securing the en-
forcement of this law, but much more
! could be done If congress would make
a special appropriation for that purpose,
to be expended under the direction of the
! attorney general.
TARIFF REVISION.
| One proposition advocated has been the
reduction of the tariff as a means of
reaching the evils of the trusts which
fall within the category L have described.
Not merely would this be wholly inef-
| fective but the diversion of our efforts
in such a direction would mean the
| abandonment of all intelligent 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 effected in the slightest degree by
a change in the tariff. save as such
| change interfered with the general pros
! perity of the country. The only relation
| of the tariff to big corporations as
whole is that the tariff makes manufac-
| lures profitable, and the tarin remedies
proposed would be in effect simply to
! make manufactures Improbable. To re-
/ move the tariff as a punitive measure
directed against trusts would inevitably
result in ruin to the weaker competitors
who are struggling against them. Our
| aim should be not by unwise tariff
changes to give foreign products the adj
vantage over domestic products, but by
proper regulation give domestic competi-
ton a fair chance; and this end cannot
| be reached by any tariff changes which
would AFFECT unfavorably all domestic
competitors, good and bad alike The
question of regulation OF the trusts
stands apart from the question OF tariff
revision.
Stability of economic policy must al
ways be the prime economic need of this
country. This stability should not be
fossilization. The country has acquiesced
| in the wisdom of the protective tariff
principle. 1t is exceedingly undesirable
that this system should be destroyed or
that there should be violent and radical
changes thereinl Our past experience
shows that great prosperity in this coun-
| try has always come under protective
tariff; and that the country cannot pros
per under fitful tariff changes at short
| intervals. Moreover. II the tariff laws
| as a whole work well, and If business has
prospered under them and is prospecting
| it is better to endure for time slight in
copveniences and inequalities In some
| schedules than u upset business by too
| quick and too radical changes. It is
most earnestly to be wished that we
could treat the tariff from the standpoint
solely Of our business needs. 1t is, per-
| hars. too much TO hope that craftsmanship
! may be entirely excluded from considera-
| tion of the subject, but at least it can be
made secondary to the business interests
of the country--that is, to the interests
! of our people as whole. Unquestiona-
| bly, these business interests will best be
served If together with f1xity of princi-
| pie as regards the tariff We combine
| system which will permit us from time
| to time to make the necessary reappli-
| cation Of the principle to the shifting ma
tiona1 needs. We must take scrupulous
care that the reapplicstion shall be made
| In such a way that 1t will not amount
to dislocation of our system, the mere
| threat of which mot to speak of the per-
| formancel would produce paralysis in the
business energies of the community. The
| first consideration in making these
changes would of course be to preserve the
| principle which underlies our whole tariff
' system--that Is, the principle Of putting