The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1907-12-07

recognize luHL tulb CVfktoi must toiAN-
The only question Is as 10 what gov
ernmental body can most wisely exer-
else H. The courts will determine the
limits within which the federal author
ity can exercise II, 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 tho desired end
Tho Antitrust Law.
Moreover. In my judgment there
should DO additional legislation looking
10 the proper control OF the great busi-
ness concerns engaged I'm interstate
business, this control to be exercised
for their own benefit and prosperity
no less than for the protection or In
vestors and OF the general public. AS
have repeatedly said In messages to
congress and elsewhere, experience has
definitely shown not merely the unwis-
dom, but the futility. OF endeavoring to
put a stop TO all business combinations.
Modern Industrial conditions are such
that combination Is not only necessary.
but inevitable II Is so In the world OF
business just as II Is so In the world
OF labor, and II is as Idle TO desire to put
an end 10 all corporations, TO all big
combinations OF capital. as 10 desire TO
put an end 10 combinations Of labor.
Corporation and labor union alike have
come TO stay. Each II properly man
aged Is a source OF good and not evil.
Whenever in either there Is evil II
should be promptly held 20 account.
but II should receive hearty encourage
ment so long as II Is properly managed.
IL Is profoundly immoral 20 put or
keep on the statute books law nomi.
nally In the interest OF public morality
that really puts premium upon pub
lie immortality by undertaking TO for
bid honest men from doing what must
be done under modern business condl-
tons so that the law itself provides
that its own infraction must be the
condition precedent upon business sue
cess. TO aim at the accomplishment
Of too much usually means the accom-
plishment OF too little and often the do
Ing OF positive damage.
Not Repeal, but Amendment.
The antitrust law should not be re-
pealed, but II should be made both
more efficient and more In harmony
with actual conditions. II should be
so amended as 10 forbid only the kind
OF combination which does harm TO the
general public. such amendment TO be
accompanied by or TO be an incident OF
grant of supervisory power to the
government over these big concerns
engaged In interstate business. This
should be accompanied by prov ision
for the compulsory publication OF nc
counts and the subsection OF books and
papers 10 the inspection OF the gov
eminent officials. A beginning has al
ready been made for such supervision
by the establishment OF the bureau OF
corporations.
The antitrust law should not prohibit
combinations that do~no injustice 10
the public, still less those the existence
OF which Is on the whole OF benefit
10 the public. But even II this feature
of the law were abolished there would
remain as an equally Objectionable fea
ture the difficulty and delay now Incl
dent TO It's enforcement The govern
ment must now submit 10 irlIsonc and
repeated delay before obtaining a fnal
decision OF the courts upon proceedings
IN fn1 20 ~. a
cree may mean an empty victory.
Moreover, 10 attempt to control these
corporations by lawsuits means TO I'm
pose upon both the department OF
justice and the courts an impossible
burden. It IL not feasible 10 carry on
more than a limited number of such
suits. Such law TO bo really efrcc-
tive must Of course he administered
by an executive body and not merely
by means OF lawsuits. The design
should be 10 prevent the abuses Incl
dent 10 the creation OF unhealthy and
improper combinations instead OF wait
Ing until they are In existence and
then attempting 20 destroy them by
civil or criminal proceedings.
Law Should BE Explicit.
A combination should not be tolerat-
ed II IL abuse the power acquired by
combination to the public detriment
No corporation or association of any
kind should be permitted 10 engage In
foreign or interstate commerce that Is
formed for the purpose OF or whose
operations create monopoly or gen
eral control OF the production. sale or
distribution OF any one or more OF the
prime necessities OF life or articles OF
general use and necessity Such com
binations are against public policy
They violate the common law. The
doors OF the courts are closed 10 those
who are parties TO them, and believe
the congress can close the channels OF
Interstate commerce against them for
It's protection The law should make
its prohibitions and permissions as
clear and definite a. possible. leaving
tho least possible room for arbitrary
action or allegation OF such action on
the part OF the executive or OF diver.
gent Interpretations by the courts.
Among the points TO be aimed AZ
should be the prohibition OF unhealthy
competition. such ns by rendering serv.
ico m 4 nm ocfual loss for fhq purnoea of