Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1906-10-27
DAWES DISCUSSES
ANTITRUST LAW
DECLARES 1T PUTS INNOCENT
AGREEMENTS ON PAR WITH
CRIMINAL ONE .aro oas
Banker and Former Capitalist Tells
Life Underwriters 1t Discouraees
Good and Encourages the Bad.

st. Louis, Oct 26.-"The Sherman
antitrust law makes agreements in
herently innocent as criminal as those
Inherently guilty. That is the reason
the law has been and always will be a
failure. For sixteen years it has been
practically dead letter.
This was the statement made by
Charles G. Dawes, president of the
Central Trust Company Of Illinois, to
members of the National Association
OF Underwriters at banquet in the
Southern hotel last night Mr.. Dawes
asserted that the law is so faulty that
1t encourages the inc rporations into
larger concerns of any number of com.
peting concerns Qess than the whole
number. however), and in this manner
results in a trade agreement which
should be prohibited.
Objection to Law.
The Chicago banker urged the
amendment of the law and said 1t was
now subject to the following objec-
tions:
81. AS its principal section makes
criminal, without further definition,
an agreement In restraint of trade 1t
leaves to judicial determination the
definition of the crime and it has not
been yet defined, but will only be de-.
fined as each case arises. The busi-
ness community is, therefore, left in
doubt as to what may constitute a
crime under the law
"2. It makes no distinction between
those agreements in restraint Of trade
which are beneficial to the public and
s11, &,-x %11 -
agreement among competitors, for in
stance, to sell only pure. as distin-
guished from adulterated goods, is pre-
sumably as criminal under its provi-
sions as one designed solely to extort
unreasonable prices.
| 49,. Being indefinite in its definition
! of the crime. and introducing into
business an element of doubt and un-
certainty as to trade agreements, it
operates to the disadvantage of the
scrupulous business man and in favor
of the unscrupulous business man.
Dlscourages the Good.
"a. The fact that trade agreements
beneficial to the public, as we'll as
those which are injurious, may alike
be criminal under it's provisions dis.
courages the formation of good trade
agreements and encourages the forma.
tion of evil ones. The first, because
scrupulous men desire to take no risks
with the law; the second because to
INSCRIPTIONS men the risk Of prosecu
ton is less, since to. include under
any law good and bad acts as equally
criminal inevitably discourages its en-
forcement.
SO. The general prosecution of our
| leading business men for that which
may not be inherently criminal or op
posed to public policy, which this Law
makes possible, would tend to have
one of two results-it might lead then
either to sell out their business as
a whole to men willing to take risks
with the law, which would be a public
\ injury, or it might lead them to sub
divide their business and sell it out tt
smaller concerns, thus lessening the
\ economies Of production and distribu
tion, which would be step back
wards in our commercial evolution
and public injury.
Terms Too General.
\ "6. The enforcement of this law
giving necessarily, through its genera
terms, sucr ide latitude and discre
ton to executive officers In their righ
to proceed against corporations ant
individualsh, is bound to create the ap
pearance at least of favoritism in its
application, and to result in lack O
uniformity in the treatment of case!
arising under it,