The Washington herald., 1907-08-12
The Presidents Trust POLICY

The New York Times, discussing the
dement's of the Sherman antitrust law.
remarks. with considerable truth:
''The law condemns every trust. even those whose
acts are good. In other words the Law is athwart
the tendencies Of modern business. and Is not sus-
tanned by the public opinion Of the commercial CON-
muuity. which itself as a whole does what it epn-
demnS in Standard Oil as an individual. Not even
the Presidents power or popularity can hold the
question in stable equilibrium al this point There
IS no tust which does not stand in danger Of shar
ing Standards rate. which does not rest its hope
Of escape upon an individuals win. IN the United
States this is intolerable."
We think, however. that It will be time
enough for the good trusts to become
alarmed when the Department of Justice
begins to show symptoms OF attacking
them. Its efforts, so far. have been di-
rected against trusts whose methods Of
conducting business are oppressive and
monopolstic. as well as Illegal by reason
OF contracts made in restraint OF trade.
It is true that II the department should
endeavor 10 ferret out and punish every
such contract, whether its purpose and
effect were good or bad. # would soon
have the whole world of industry and
commerce by the ears. No disposition
to do anything so foolish has ever been
manifested either by the President or
the Attorney General, nor Is It at all
likely that anyth,ag so foolish viii ever
be attempted. The good trusts may rest
easy.
Much is made by newspapers like the
Times Of the fact that the prosecution
Of trusts. good on bad, and the punish
ment OF contracts In restraint Of trade.
whether reasonable OF unreasonable,
whether useful or injurious, lie within
the discretion Of the President and the
Attorney General The possession of a
power like this over the operations OF
the business community is held to be
disquieting and intolerable But IT should
be remembered that President Roosevelt
is not responsible for the provisions Of
the antitrust law. nor for the court de-
cisions which have made its provisions
applicable alike 10 good deeds and bad.
Mr.. Roosevelt. in fact, has over and over
again expressed his disapproval Of the
sweeping condemnation of all combina-
tions OF capital implied In the antitrust
law, and he has more than once pointed
out the ineffectiveness Of attempts 70
prohibit all combinations Of capital. good
or bad. Mr.. Roosevelt is as wei aware
Of the imperfections OF the Sherman law
as the newspapers which habitually find
fault with him for enforcing its provi-
sions against those combinations as TO
whose operations there has been the
greatest amount OF complaint; but he
can hardly be held 10 account for the
provisions OF a law which he himself
does not wholly approve. He is account
able only for the manner IN which he
has enforced the law; and as to that, he
has yet TO be accused OF invoking It's
provisions against harmless business
transactions or against a benefcent trust,
II there be such a thing. Whatever may
be the scope ef his power in this direc-
ton, he has not used it to run amuck
in the business and Industrial world, and
this fact ought TO be reassuring 70 those
timid souls in Wall street who imagine
that because the President has a giants
strength, he is bound TO use 1t tyran-
nously.