The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-08-04
now 70 CALL TIM Es.DIlsIPATlitc'7HF'l
3sli Tho hours we pass witt happy pros
ibecta Y are more pleasing ina those lc's'
crowned Will, frultlon =. 4, 4. u. l III
4 The Sherman Law

isE ~ Charles a.. Dawes. former comptlrfo'l-
Ter Of the currency, has made po 'E s7 a. .io
North American Review the susges7 est t1on
@@hnt II tho Sherman antitrust law needs Z
rs be radically amended THIS law s n g
8 everybody knows, makes criminal 1 seVe .
contract. combination, etc., IN restrain = :
81 trade or commerce among the se 81 y -
& states or with foreign M tons. MI Nii
y raves saws that IN It's present FORM DUR 1;
4 ~, tha sixteen years that have elapsed
since its passage, the law has proven. j. :
FAILURE. ana that If it Is to be user SCI, y y
hereafter it must be made to define what
n 1sind Of, agreements In rstraint OF trade
'ttnre illegal and to exempt from Its pro-
I visions those trade agreements which,
while they may be in restraint q trace
! operate either for the public welfare 4 o.:
Tat least in manner not Injurious to *.
"This is q day OF trade agreements" =; he
/ goes on. I'VE SEQ oil over tho country country
state and national ssociations Of busi-
ness men, formed for mutual protection
and for the arranging Of what might pc
termed the rules OF trade. The business me" y: y
community already knows that there ire
certain agreements in restraint Of trade
which keep alive competition, and which
are aimed at keeping It alive. They seek3
to substitute among business men the
policy for the policy OF
unrestraincd competition. Most OF the
evils against which we cry are the out 'l15-
growth OF unrcstrained and unreSulatedE
competition. There Is much complaint
at times that corpora ton sells below
cost in a peculiar locality in order to
destroy the local competitor and thus
enable 1t later$on to exercise o monopoly.
An agreement among competitors. there
fore. not to sell below cost may. In some
Instances, be Of public benefit. as pre-
serving a large area Of reasonable COM
petition" t,s
There is IN old saying that the best
way to change a bad law IS to enforce
L 1t. The rigid enforcement OF tho Sher-s
man antitrust law has already created
strong sentiment In favor of reason
nble amendment. Tor exanple,.thc oili-
GERS OF tho Virginia. Carolina Chemical
4 Company nre lawablding citizens and men
OF good character They have been car.
rying on business In such way as to
benefit rather than injurc the farmers,
yet they have beer indicted as common
criminals and must answer to the charge
before g court OF justice. Men in similar
& combinations are uneasy lest they, too.
DO hauled up at "a moments notice to
answer a criminal Charge Tho result
v Of such q policy. says Mr.. Dawes, Is. to
T. discourage the formation OF good trade
agreements and to encourage the forma-
4 ton OF evil ones. The first, because
d scrupulous men desire to take no risks
with the law; the second. because to
q interruptions mon the risk OF prosecution
X Is less. since to include under any law
4 good and bad acts rs equally criminal
Inevitably discourages its enforcement
Mr., Dawes is right. Tho law school
n be SO amended us to diffcrent!atc between
good and evil trade combines. Such
& combines are Il necessity OF tho age, and
!. It Is stupid and cowardly to say that
81 All must be destroyed because some are
Evil, The laws should be so adjusted as
+ TO encourage good corporations and make
them serve the public. willie restraining
and disciplining or prohibiting those
which are bad, The people rule. II they
ia will. }' N ANN