New-York tribune., 1907-12-04
Bottled
at the Springs.
Avoid substitutes.


revulson the dstrust would extend 10 honest tne1 "a
who, in sincere and sane fashion, are trying ~
remedy the evils.
The antitrust law should not be repealed; but
it should be made both more efficient ana more
in harmony with actual conditions IL Snoulu
be so amended 10 forbid only the klnd ot
combination which does harm to the genera
public. such amendment TO be accompanied by,
or to be a incident Of grant OF supervisory
power to the government over these Dig % col
Germs engaged in Interstate business rms
should be accompanied by provision 1or tne
compulsory publication of accounts ana tle sun
lection of books and papers to the inspection a
of the government officials. A beginning mas al
ready been made for such supervision py 'ho
establishment of the bureau Of corporations
The antitrust law should not prohlpit com, com,
binations that do no injustice TO the pupIic StIl
less those tie existence OF which Is on ine
whole of benefit TO the public. But even II thiS
feature OF the law Were abolished, there Would
remain as an equally oh ectionabe feature the
difficulty and delay now incident to It's enforce
ment The government must now submit To
irksone and repeated delay before obtaining
final decision Of the courts upon proceedings
instituted. and even favorable decree nay
TO control these corporations by lawsuits means
to impose upon both the Department OF Justlce
and the courts an impossible burden; IT Is not
feasible to carry on more than limited nun NUM-
ber of such suits Such law TO be reaily Ell
fectlve must OF course be admlnistef@eu @ ps az az
executive body. and not merely by means OF
lawsuits. The design should be to prevent tne
abuses incident to the creation OF unhealthy anu anu
improper combinations, instead OF waning UNI
they are in existence and then attempting 10
destroy them by civil criminal proceedings
A combination should not be tolerated II
abuse the power acquired by combination 70 the
public detriment. No corporation or association
OF any kind should be permitted TO engage III
foreign or interstate commerce that Is Iorneu
for the purpose Of or whose operations create
Il monopoly general control OF the pToductloh'
sale distribution of any one or more or thS
prime necessities OF life or articles of general
and necessity Such combinations dI'
against public policy: they violate the common
law; the doors OF the courts are closed 10 those
y-b0 / believe
gress can close the channels of interstate com
merce against them for its protection Inc
law should make its prohibitions ana perlnls-
sions as clear and definite as possible. leaving
the least possible room for arbitrary action or
allegation of such action. on the part or tne
Executive or of divergent interpretations by the
courts. Among the points to be aimed at should
be the prohibition OF unhealthy competition
such as by rendering service at an actual loss
for the purpose of crushing out competition. tho
prevention of imitation of capital and the pro-
hibition Of a corporations making exclusive
trade with itself condition OF having any
trade with itself. Reasonable agreements be-
tween or combinations of, corporations should
be permitted. provided they are first submitted
and approved by some appropriate govern
ment body
The Congress has the power TO charter cor
porations to engage in interstate and foreign
commerce. and a general law can be enacted
under the provisions of which existing corpora
tions could take out federal charters and new
federal corporations could be created. An essen
tial provision OF such law should be Il method
OF predetermining by some federal board or com
association or combination within the
restrfctions OF the federal law. Provision should
also be made for complete publicity in all mat
tcrs affecting the public and complete protection
to the investing public and the shareholders in
the matter of issuing corporate securities II
an incorporation law is not deemed advisable, Il
license act for big Interstate corporations might
be enacted: or Il combination of the two might
be tried. The supervision established might be
analogous to that now exercised over national
banks At least, the antitrust act should be
supplemented by specific prohibitions of the
methods which experience has shown have been
of most service in enabling monopohstlc com
bnations to crush out competition. The real
owners of a corporation should be compelled to
do business in their own name. The right TO
hold stock in other corporations should here
after be denied to interstate corporations. unless
on approval by the proper government officials.
and prerequisite to such approval should be
the listing with the government OF all owners
and stockholders, both by the corporation own
ing such stock and by the corporation in which
such stock is owned.
To confer upon the national government in
connection with the amendment advocate in
the antitrust law. power of supervision over
big business concerns engaged In interstate COM
rnerce would benefit them it has benefited
the national banks In the recent business crisis
II is noteworthy that the institutions which
failed were institutions which We're not under
the supervision and control of the national gov
ernment. Those which were under national con-
troll stood the test.
National control of the kind above advocated
would be to the benefit of every well managed
railway. From the standpoint of the public
there is need for additional tracks. additional
terminals and Improvements in the actual han
ding of the railroads, and all this rapidly as
possible Ample. safe and speedy transportation
facilities even more necessary than cheap
transportation. Therefore there is need for the
investment of money which viii provide for all
these things while at the same time securing dis
far as is possible better wages and shorter hours
for their employees Therefore, while there must
be Just and reasonable regulation of rates, we
should be the first to protest against any arb-
trary and unthinking movement to cut them
down without the fullest and most careful con-
aid of a interests
actual needs of the situation. only a special
body of men acting for the national govern
r1ent under authority conferred upon it by the
Congress is competent to pass judgment on
such matter.
Those who fear, from any reason, the exten-
sion Of federal activity will do Well 10 study the
but Of the pure food law, and notably the meat
inspection law recently enacted. The pure food
law was opposed so violently that IT'S passage
was delayed for a decade; yet IL mas WORKED
unrnixed and immediate good The meat IN
spection law even more violently assalied;
and the same who now denounce the at
titude of the national government in seeking to
oversee and ontrol the workings OF Interstate
common carriers and business concerns tEen as
serted that we were "discredting and running q
great American industry Two years have not
elapsed and already it has become evident that
lie is accompanied by equal benefit to the
reputable packing establishments. ihe latter
are better off under the law than they were
without il. The benefit to interstate common
carriers and business concerns from the leslsla-
ton I advocate would be equally marked
Incidentally, In the passage of the pure food
law the action of the various state food and
dairy commissioners showed In striking fashion
how much good for the whole
Pure Food Law. people results from the hearty
cooperation of the federal and
state officials in securing given reform. 1t is
primarily to the action of these STATE cor! eommis-
sioners that we owe the enactment OF this law,
for they aroused the people, frSt To demand the
enactment and enforcement of state laws on the
subject and then the enactment OF the federal
WI