New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-22
REGULATION OF TRUSTS.

Four wears ago the regulation by law OF ne
great corporate Ombnations called "trus,-"
stood substantially where Il when the Sher-
man Antitrust act Of 1880 was passed Presi-
dent Cleveland in his last message Of December
1896, had said;
Though Congress has attempted to deal With this
mater nv legislation the laws passed for that pur-
pose mus far have Pr9yed n3 % ef5rse
or any lack Of disposition or dlleHIlt 20 iloIo
them. but simply because the laws themselves as
r1Ity II the insufficienc;es Of existing laws can
be reInsdied by further LelSJlo- s[er1I 7b9T
an federal legislation this subject may fan short
OF its purpose because Of inherent oDstacles' ana
also because OF the complex character Of our gov
ernmental system. which, while making fedora! au-
th0rity supreme within its sphere has carefully
limited that sphere by metes and bounds that can
not be transgrsssed-
At every election the regulation OF trusts had
been the football Of campaign oratory and the
sub tect of many insincere declarations.
our Republican administration has taken up
the subject in a practical. sensible way as a
business rather than political question: saying
what il really meant. and doing what lay at its
hands TO be done TO accomplish effective regIla-
tion The principles upon which the government
proceeded were stated by the President in his
message OF December, 1902 He said:
fundamental base Of civilization is the in
volatility OF property but TINS IS n no wise neon
sistent with the right OF soclely 20 regulate me
exercise OF the artificial powers whlch II conIers
corporate franchises, IN such a way as 10 prevent
the misuse Of these powers.
lating and supervising these corporations until we
Ak clearly in our minds that we are not aItacklng
any evil in them We are hostile 70 them
az merely determined that they shall be so
handled as TO subserve the public good W. draw the
line against misconduct, not against wealth.
In curling and regulating the combinations or
CAPITAL which are may become injurious 70 the
public we must be careful not 70 stop the great
enterpr,ses which have legitimately reduced the
cost AZ production, 10 abandon the place which
our country has IN the leadership OF the
international industrial world not 70 strike down
wealth with the result OF closing factories and
mines of turning the wage-worker idle in the
streets and leaving the farmer without market
for he grows
believe that monopolies, unjust determinations
which prevent or cripple competition, fraudulent
capitalization and other evils in trust organ
tzatfone and practices which lnJuriously affect IN
terstate trade be prevented under The power
OF the Congress regulate commerce with foreign
nations and among the several states through
regulations and requirements operating directly
luor such commerce, the Observation-Disclosures thereof
and those engaged therein
THREE PRACTICAL STATUTES PASSED
After long consideration Congress passed three
practical statutes on the 1lth OF February
1903. an act TO expedite hearings in suits in en-
forcernent of the Antitrust act; on the l4th
OF February 1903, the act creating new De-
partnent OF Commerce and Labor, with a Blu
reau of Corporations, having authority TO secure
systematic Information regarding the organiza-