Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-12-05
NATIONAL LAWS ON SUBJECT.
Have Been Negative or Prohlbitiye
Rather Than Affirmative.

II has been a misfortune that the ma
tional laws on this subject have hith-
erto been OF negative or prohbitlve
rather than an affirmative kind, and
still more that they have in part sought
to prohibit what could not be effectively
prohibited. and have IN part IN their
prohibitions COMPOUNDED what should
be allowed and what should not be
allowed n Is generally useless TO try
to prohibit all restraint on competition,
whether this restraint be reasonable or
urrea soma bic and where II is not use
less 1t is generally hurtful Events
have shown that 1t Is not possible ade-
qiately To secure the enforcement OF
any law of this kind by incessant APP
peal to the courts. The department OF
justice has for the last four years de-
voted more attention to the enforce
ment OF the antitrust legislation than
to anything else. Much has been ac-
complished; particularly marked has
been the moral effect Of the prosecu-
ton. but II Is Increasingly evident that
there Will be a very insufficient bene-
hcial result IN the way OF economic
change. The successful prosecution OF
one device to evade the law immedi-
ateiy develops another device to ac-
con.lish the same purpose. What Is
needed is not sweeping prohibition OF
every arrangement, good or bad which
may tend to restrict competition but
such adequate supervision and regula-
ton as Will prevent any restriction of
competition from being TO the detr-
fnent OF the publlc--as well as such
supervision and regulation as will pre-
vent other abuses in no way connect
ed with restriction of competition. or
these abuses, perhaps the chief al
though by no means the only one, is
alization-generally Itself the |
result or dishonest promotion-because |
or the myriad evils 1t brings In it's |
Train; for such overcapltalization often |
means an imitation that invites bust |
ness panic; 1t always conceals the true |
relation of the profit earned to the |
capital actually invested. and II Gre
ates burdH OF interest payments |
which Is fertile cause of improper re-
dtction In On limitation OF wages: It |
the small investor, discour-
ages thrift, and encourages gambling
ana speculation; while perhaps worst
Of all Is the thickness and dishonesty
which it imples-for harm TO morals
Is worse than any possible harm 10
material interests. and the debauch-
cry OF politics and business by great
iishonest corporations is far worse
nan any actual material evil they do
he public. Until the national govern
rent obtains, in some manner which
ne wisdom of the Congress NAV sug-
sest, proper control over the big cor
'orations engaged In interstate com
nerce-that Is, over the great majority
" the big corporatlons--it will be i'm
'ossiple to deal adequately with these
wills
| am well aware of the difficulties a,
he legislation that | am sugeestin0
nd of the need OF temperate and can.
ious action in securing It, | should
mphatcally protest against lmproperiv
adical or hasty action. The fjrst thInv
o do Is TO deal with the great corporo.
ions engaged In the business OF inter
tate transportation. AS | said in nv
Message OF Dec. last, the Immediate
nd most pressing need. so far as legis.
alton Is concerned, is the enactment in
D law of some scheme TO secure TO the
gents OF the government such super.
ision and regulation OF the rates
harged by the railroads OF the country
ngaged In interstate traffic as shall
and effectively prevent the
nposltlon OF unjust or unreasonable
ites. II must include putting COM
lete stop TO rebates In every shape and
,rm. This power to regulate rates
Ike all similar powers over the bust.
ess world, should be exercised with
oderatlon caution, and self-restraint; :
" II should exist. so that It can be I
fectlvely exercised when the need
rises.