Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1907-12-06

mony with the several state commits
sions. each within it's own province,
to achieve the desired end.
Sherman Antitrust Law.
Moreover. in my judgment there
should be additional legislation look
ing to the proper control of the great
business concerns engaged in inter
state business, this control to be ex-
ercised for their own benefit and pros
perity no less than for the protection
of investors and of the general puplc.
As l have repeatedly said in messages
to the congress and elsewhere. expert
ence has definitely shown not merely
the unwisdom but the futility of en-
~deavoring to put a stop to all bust
ness combinations. Modern Industrial
conditions are such that combination
is not only necessary but inevitable. 1t
Is so in he world Of business just as
1t is in the world of labor, and 1t Is
idle to desire to put an end to all
corporations. to all big combinations
of capital, as to desire to put an end TO
the combinations Of labor Corporation
and labor union alike have come to
stay. Each. IL properly managed is a
source OF good and not evil. Whenever
In either there is evil, 1t should be
promptly held to account; but 1t should
receive hearty 81 lohS
as it is properly managed. 1t Is pro-
foundly mmora to put or keep on the
statute books a law, nominally in the
interest OF public morality, that really
puts a premium upon public immoral
ity. by undertaking to forbid honest
men from doing what must be done UNI
der modern business conditions, so that
the law itself provides that its own In
fraction must be the condition prece-
dent upon business success. To aim at
t-~ 1~-~,& ~-A ~ 49, -, Gyr l.
ly means the accomplishment Of too
little. and often the doing of positive
dana -e.
Forbid the Evil Combination.
(Here the president cited previous X
pressions to the effect that the Sher-
man antitrust act is so framed that
the business Of the ountr cannot be
conduct without breaking it,
: The antil- trust law should not
be repealed; but it should be made
:: both more efficient and more in
: harmony with actual conditions.
a.: 1t should be amended so as to
fcrtj1 only the kind Of combin- ::
aJ,u.. .:ich does harm to the gen.
/: SIs. IuHliC, such amendment to /:
: u la ompanied by, or to be an =:
{: incl.I..t OF, a grant of supervisory !:
: power to the government over !:
:: these big concerns engaged in in ::
:. terstate business. This should be
= accompanied by provision for the !:
:: compulsory publication of accounts I:
and the subsection of books and ::
:: papers to the inspection Of the
:: government officials. A beginning ::
: has already been made for such
:: supervision by the establishment
of the bureau of corporations. /:
The antitrust law should not pro-
hibit combinations that do no injustice
to the public, still less those the ex-
istence Of which is on the whole Of
benefit to the public. But even If this
feature of the law We're abolished,
there would remain as an equally OBJ
~jectionaDle feature the difficulty and
delay now incident to it's enforcement.
The government must now submit to
irksome and repeated delay before OBJ
tanning a final decision of the courts
upon proceedings instituted, and even
a favorable decree may mean an empty
victory. Moreover, to attempt to con-
troll these corporations by law suits
means to impose upon both the depart
ment Of justice and the courts an i'm
possible burden; it is not feasible to
carry on more than a limited number
of such suits. Such a law to be really
effective must of course be admin
istered by an executive body, and not
merely by means of aw suits. The de-
sign should be to prevent the abuses
incident to the creation of unhealthy
and improper combinations, instead Of
waiting until they are in existence and
then attempting to destroy them by
civil or criminal proceedings.
Condemns Trusts in Necessities.
Z: A combination should not be toll /:
Grated If it abuse the power ac-
CURED by combination to the pub
: lie detriment. No corporation or
association of any kind should be !:
!: permitted to engag in foreign or /:
!: interstate commerce that Is formed /:
for the purpose of, or whose OPP /:
!: erations create, a monopoly or gem !:
!: eral control oe The productions SALE, /:
of the prilat necessities Of life or !:
articles Of general use and neces- !:
/: sity. Such combinations are !:
!: against public policy; they violate /:
the connie law: the doors Of the !:
!: courts are closed to those who are (:
parties to them, n I believe the /:
!: congress can close the channels of /:
!: interstate against them !:
!: for its protection. The law should !:
!: make it's prohibitions and permis- /:
:: sions as clear and definite. as pos /:
I: sib!e. leaving the least possible 7:
:: room for arbitrary action, or al /:
/: legation of such action, on the part !:
of the executive or Of divergent /:
Among the points to be aimed at !:
should be the prohibition Of I'M !:
I: healthy competition such as by /:
rendering service at an actual loss !:
Tor the purpose OF crushing out
{: competition, the prevention Of in /:
flation Of capital, and the prohi- /:
bition Of a corporations making !:
exclusive trade with itself a con-
dition of having any trade with /:
itself. Reasonable agreements be- !:
tween, or combinations of corpora I:
tons hould be permitted, provided /:
they are first submitted to and ap- /:
proved by some appropriate gov !:
eminent body.
.-,--
THE CONGRESS HAS THE pow
Err TO CHARTER CORPORATIONS
TO ENGAGE IN INTERSTATE AND
FOREIGN COMMERCE, AND A GEN
ERAL LAW CAN BE ENACTED UN-
DER THE PROVISIONS OF WHICH
EXISTING CORPORATIONS COULD
TAKE OUT FEDERAL CHARTERS
AND NEW. FEDERAL CORPORA
TIONS COULD BE CREATED.
License as an Alternative.
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