Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-12-03

department of justice and the courts
an impossible burden; It is not fea-
sible to carry on more than a limited
number of such suits. Such a law TO
be really effective must of course be
administered by an executive body,
and not merely by means Of law suits.
The design should be to prevent the
abuses incident to the creation of I'M
healthy and improper combinations.
instead of waiting until they are in ex.
istence and then attempting to de.
stroy them by civil or criminal pro,
ceedings.
A combination should not be toll
! Grated If it abuse the power acquired
by combination to the public detri-
ment No corporation or association
Of any kind should be permitted to en-
gage in foreign or interstate COM
merce that is formed for the purpose
Of, or whose operations create. a mo-
nopoly Of general control of the pro-
duction, sale, or distribution OF alx
Io7--yr- q ..----yt- ,l1 -
Of life or articles Of general use and
necessity. Such combinations are
against public policy; they violate the
common law: the doors of the courts
are closed to those who are parties to
them, and believe the congress can
close the channels of interstate COM
merce against them for its protection.
The law should make its prohibitions
and permissions as clear and definite
as possible, leaving the least possible
room for arbitrary action. or allega-
ton of such action, on the part OF the
executive, or Of divergent interpreta-
tons by the courts. Among the points
to be aimed at should be the prohibit
ton Of unhealthy competition. such
as by rendering service at an actual
loss for the purpose Of crushing out
competition, the prevention of infla-
ton of capital, and the prohibition of
corporations making exclusive
trade with itself a condition of having
any trade with itself Reasonable
agreements between. or combinations
of, corporations should be permitted.
provided they are first submitted to
and approved by some appropriate
government body.
The congress has the power to char
ter corporations to engage in inter
state and foreign commerce. and
general law can be enacted under the
provisions Of which existing corpora.
tons could take out federal charters
and new federal corporations could be
created. An essential provision of
such law should be method of pre-
by some federal board or
whether the applicant
for federal charter was an associa-
ton or combination within the re-
strictions Of the federal law. Provis-
ion should also be made for complete |
publicity in all matters affecting the |
public and complete protection to the |
public and the shareholders /
in the matter Of issuing corporate Sc
If an incorporation law is
not deemed advisable. a license act
Tor big interstate corporations might
De enacted; or combination of the
wo might be tried The supervision
might be analogous TO
hat now exercised over national
'anks. At least. the antitrust act
.hould be supplemented by specific
prohibitions Of the methods which ex-
,erience has shown have been of most
.ervice in enabling monopolistic com i
'inations to crush out competition.
The real owners Of a corporation
hUuld be compelled to do business in
heir own name. The right TO hold
took in other corporations should
ereafter be denied 10 interstate cor.
.orations. unless on approval by the
roper government officials. and a
re requisite to such approval should
o the listing with the government Of