The Elbert County tribune., 1907-12-05

commission being first obtained Irntil
,ne national government assumes
p.oper control of Interstate commerce.
in the exercise of the authority IL AL
ready Possesses. 1t will be Impossible
ei.ner 70 give to to get from the
rAiiroads full Justice. The railroads
sno al other great corporations will
W wen TO recognize that this control
must come; the cnly question is as to
~nat governmental body can most
"iseiy exercise IL. The courts will de-
termine the limits within which the
uersi authority can exercise it. and
'.n VIII still remain ample work
Withlh each state for the railway com
mission OF that state; and the national
interstate commerce commission will
work In harmony with the several state
commissions. each within its own prov
inee' TO achieve the desired end
Control of Inter.txte
busin>ss Concern. Urged
Moreover, In my Judgment there should
oe Auoiuonal legislation looking to the
proper control OF the great business con-
Germs engaged in Interstate business this
control TO be exercised for their own
oeneht and prosperity no less than for
tue protection OF investors and of the
general public AS l have repeatedly
SAID In messages to congress and else
"here, experience has definitely shown
not merely the unwisdom but the futIlity
oi ehueaNoring to put a stop to all busi=
ness combinations Modern Industrial
condiuons are such that combination is
not only necessary but inevitable 1t is
SO in the world of business just as IL is
SO in the world of labor and IL is as idle
10 desire TO put an end to all corpora-
lions, TO all big combinations of capital.
as 10 desire to put end to combina-
lions of labor. Corporation and labor
union alike have come to stay Each II
properly managed is "a source of good
and not evil Whenever in either there
is evil. 1t should be promptly held to ac-
count; but II should receive hearty en-
eouragement so long as 1t is properly
managed. 1t is profoundly immoral 10
put or keep on the statute books a law
nominally in the interest of public moral
ity, that really puts a premium upon
pubic immortality. by undertaking to
forbid honest men from doing what must
be done under modern business condi-
uons, so that the law itself provides that
Its own infraction must be the condition
precedent upon business success. To aim
at the accomplishment of too much usu-
ally means the accomplishment of too lit
tie, and often the doing of positive dam
age.
The antitrust law should not be re-
pealed. but II should be made both more
efficient and more in harmony with act
ual conditions. 1t should be amended
as to forbid only the kind of combination
which does harm to the general public
such amendment to be accompanied by
or to be an incident Of grant OF su-
pervisory power to the government over
these big corporations engaged in inter-
state business. This should be accom-
panied by provision for the compulsory
publication of accounts and the subjec-
ton OF books and papers to the inspec-
ton of the government officials. be-
ginning has already been made for such
supervision by the establishment of the
bureau of corporations.
''rhe antitrust law should mot r,robfhft
combinations that do no injustice to the
public. still less those the existence of
which is on the whole of benefit to the
public. But even II this feature of the
law were abolished. there would remain
as an equally Objectionable feature the
difficulty and delay now incident to its
enforcement The government must now
submit to irSsome and repeated delays
before obtaining final decision of the
courts upon proceedings Instituted, and
even favorable decree may mean an
empty victory. Moreover, to attempt to
control these corporations by lawsuits
means to impose upon both the depart
ment of Justice and the courts an i'm
possible burden: II is not feasible to carry
on more than limited number of such
suits. Such law to be really effective
must of course be administered by an
executive body, and not merely by means
of lawsuits. The design should be TO
prevent the abuses incident to the crea-
ton of unhealthy and improper combina-
tons. instead of waiting untll they are
in existence and then attempting to de-
stroy them by civil or criminal proceed
ings.
Investing Public should
BE Amply SafeGunrded.
'The congress has the power to charter
corporations to engage in interstate and
foreign commerce, and general law can
be enacted under the provisions of which
existing corporations could take out fed
eral charters and new federal corpora
tions could be created. An essential pro-
vision of such law should be a method
of predetermining by some federal board
commission whether the applicant for
a federal charter was an association or
combination within the restrictions of the
federal law. Provision should also be
made for complete publicity in all matters