The herald and news. [volume] (Newberry S.C.) 1903-1937, 1907-12-06

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full Justice. The railroads and all 9TH
or great corporations will do well to
recognize that this control must come
The only question Is as to what gov.
ernmcntal body cun most wisely exer-
| else It. The courts Will determine the
J limits within which the federal author
| ity can exercise 1t, and there will still
remain ample work within each state
| for the railway commission OF that
! state. and the national interstate COM
merce commission will work In har-
mony with the several state commits
sionS. each within its own province, to
! achieve the desired end.
Tho Antitrust Law.
MOrcOvcr. In my Judgment, there
should be additional legislation looking
to the proper control Of the great bust
ness concerns engaged In Interstate
business. this control TO be exercised
for their own benefit and prosperity
no less than for the protection Of in
vcStora and OF the general public. AZ
! have repeatedly said I'm messages to
congress and elsewhere. experience has
definitely shown not merely the unwis-
dom, but the futilIty. OF endcavorlng to
put stop to all business combinations.
Modern industrial conditions are such
that combination IS not only necessary,
but Inevitable. 1t Is so in the world OF
business Just rs It Is so i'm the world
OF labor, and IL IS rs idle to desire to put
an end to all corporations, to all big
combinations OF capital. as to desire to
put an end to combinations of labor.
Corporation and labor union alike have
come TO stay. Each If properly man
nlscd Is Il source Of good and not evil.
Whenever In either there IS evil it
should be promptly held to account,
but it should receive hearty encourage
nnrn' 50 long ns il Is property. managed.
II Is profoundly immoral a, put or
keep on the statute books Il law nomi.
nnlly I'm the Interest Of public morality
that really puts II premium upon pub
lie immortality by undertaking to for
bid honest men from doing what must
be done under modern business condi-
lions SO that the law itself provides
that It's own infracton must he the
condition precedent upon business sue
rr$S. To aim nt the accomplishment
of too much usually means the accom-
pli,limrnI "r too little and often the do
imE Of positive" damage.
Not Repeal, but Amendment.
THE antitrust law should not be re-
pcnrh. but II should be made both
more efficient AMI more in harmony
with actual rnuditionS 1t should DO
SO amended as To forbid only the kind
OF rombinntio which does harm to tho
general public, such amendment to be
accompanied by or to be IN incident Of
Il grant OF supervisory power to the
government over these big concerns
engaged In Interstate business. This
should he accompanied by provision
for the compulsory publication Of uc-
counts and tho subJectlon OF books and
papers to the inspection Of the gov
ernmcnt officials. a beginning has nl-
ready been made for such supervision
by the establishment Of the bureau Of
corpora tons.
The antitrust law should not prohibit
combinations that do no Injustice to
the public. still less those the existence
OF which Is OH the whole OF benefit
to the public. But even If this feature
OF the law were abolished there would
rcnnin ~ IN equally Objectionable fca.
turr the difficulty AMI delay now Incl
dent To It's enforcement. The govern
mcnt must now submit to lrksomc and
repeated delay before obtaining Il final
decision OF the courts upon proceedings
instituted. and even Il favorable de-
rrrr may mean an empty victory.
Moreover, to attempt to control these
corporations by lawsuits means to I'm
pose upon both the department Of
Justice and the courts m impossible
burden. 1t IS not feasible to carry OH
more than Il limited number Of such
suits. Such Il law to be really cfrcc-
tive must OF course he administered
by m executive body and not merely
by means OF lawsuits. The design
should be to prevent the abuses Incl
dent I" the creation OF unhealthy and
improper combinations Instead Of wait.
Ing until they are IN existence and
then attempting tn destroy them by
civil or criminal proceedings.
Law Should 30 Explicit
y '.Ahlnailon should not he tolcrnt-
ed II II abuse the power acquired by
combination to the public drtrlment.
\" corporation or association OF any
kind should be permitted to engage In
Foreign or Interstate commerce that Is
formed for the purpose of or whose
operations create a monopoly or gem
rral control of the production. sale or
dtStrlhutinn Of any one or more OF the
prime necessities Of life or articles Of
general use and necessity. Such conn
hinAti"ns are against public policy.