The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1907-08-22

with Its greater resources and wider
. geographical reach can bring about
more quickly and efficiently, the con-
stitutiOnal limits upon federal action
should be blurred out or an undoubtad
FEDERAL power should be expanded by
doubtful construction into a field
which really belongs to the state. But
the right Of congress to take any ac-
tion, not confiscatory, in the most
rigid control of interstate commerce
can not be denied.
Objections to Government Ownership.
Il am opposed to government owner
ship
First, because existing government
railways are not managed with either
the efficiency or economy of privately
managed roads and the rates charged
are not as low and therefore not as
beneficial to the public;
Second, because it would involve an
expenditure of certainly twelve billion
of dollars to acquire the interstate
railways and the creation, of an enor-
nous national debt.
Third, because it would place in the
hands Of reckless executive power
of control over business and politics
that the imagination can hardly con-
ceive. and would expose our popular
institutions to danger"
Secretary Taft declared that this
program of railway regulation is not
inconsistent with individualism and he
also said that he would favor railway
rate agreements if submitted to and
approved by the interstate commerce
commission. AS to the suggestion that
the commission should be empowered
to make a valuation of the physical
property Of all the railroads, Mr.. Taft
said that the commission already had
sufficient power to do that. Il do not
object to valuation" he said, IF
thought relevant to any issue, but |
merely reprecate the assumption that
1t is to be the chief means of a great
reform in rates"
Continuing, Secretary Taft pointed
out that the frightful loss of life and
limb among railway employees called
for stringent regulations and he ex-
pressed his approval Of the new en-
ployers' liability law.
The Trusts.
Taking up the question of the trusts,
Secretary Taft explained the present
antitrust law, and gave his views re-
garding unlawful monopoly. He de-
clared that the mere aggregation Of
all plants in given line of industry
in one ownership does not necessarily
suppress competition, but he pointed
out the illegal devices employed by
some great corporations, and said
II am inclined to the opinion that the
time is near at hand for an amendment
Of the antitrust law defining in more
detail the evils against which it is
making clearer the distinction
between lawful agreements reasonably
restraining trade and those which are
pernicious in their effect, and particu-
larly denouncing the various devices
for monopolizing trade which prosecu-
tiOns and investigations have shown
to be used in actual practice. The de-
Cisions of the courts and the expert
ence of executive and prosecuting Of
ficers make the framing of such a
statute possible. 1t will have the good
effect Of making much clearer to those
business men who would obey the laws
the methods to be avoided.
Another and perhaps the most ef-
'ective method in the past for an un-
awful trust to maintain itself has
been to secure secret rebates or other
advantage in transportation,
1y threat of withholding business from
he carrier This is undoubtedly what
las enabled the Standard Oil company
and the sugar trust and other great
to reap an illegal har-
yest and to drive all competitors from
he field. If by asserting complete
ederal control over the interstate rail-
ways of the country we can suppress
secret rebates and determinations of |
)ther kinds, we shall have gone a
ong way in the suppression of the un.
awful trusts.
Answer to MIR. Bryan's Question.
"Mr Bryan asks me what would do |
With the trusts. | answer that would |
estrain unlawful trusts with all the |
of injunctive process and |
would punish with all the severity of
criminal prosecution every attempt on |
he part Of aggregated capital through
he Illegal means | have described to
uppress competition.
"Mr. Bryan says: He would extir-
Date trusts, root and branch If Mr.
3ryau's language is more than mere
hetOric and he means to seize the
to divide it up and sell 1t in
ieces, and disassemble the parts, then
am not in favor Of his method of
lealing with trusts, because believe
hat such large combinations legiti-
nately conducted greatly add to the
prosperity Of the country. The atti-
ude Of the government toward combi-
ations OF capital for the reduction In
he cost of production should be ex.
city the same as toward the comb,
ations Of labor for the purpose of bet
ering the conditions of the wage
Iorker and of increasing his share of
he joint profit of capital and labor,
'heY are both to he encOura ged in
very way as long as they conduct
themselves within the law. They both
'ield enormous power and If welded
oT good, can be of inestimahle bepe-
t. Their power for evil when in the
ontrol of unscrupulous men is such
lat If it is to be restrained, it needs
ne use Of all the means which the
xecutive and the courts can lawfully
l think 1t entirely possible
y the rigorous prosecutions of the law
pain9t fllapaI combinations ond hu |