Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-23
eft to regulate for some time

left to regulate for some time to
come.
We all know how much feeling. and
what just feeling. has been aroused in
the United States by corporate mis-
management. IL Is difficult to speak
in language too strong of the usurpa-
tions Of power and the larcenies of
funds which have been committed by
corporate officers But let us not lose
our hearts. We are face TO face with
economic conditions that are new. and
with economic abuses that, though
manifold, have grown up slowly and
in the dark There is ample power In
our institutions. in our constitution
and our laws to check and to remedy
them all There is now reason to be-
lieVe that the Sherman antitrust law
commits the nation to a policy which
is too extreme to a policy that. in
putting an end to certain admitted
evils. also puts an end to certain dem
Onstrable benefits Many of us be-
lieve that the act unduly exalts the
principle of competition and fails to
lay due emphasis upon the public
benefits which may follow from prop
erly regulated and supervised coop
Grafton. The distinction between com
binatiOns which are reasonable and
may well be permitted and those
which are unreasonable and must at
all hazards be forbidden, Is one which
ought not to be surrendered or over
looked. II is a most important ques-
ton, therefore. whether the time has
not come when this act should be
amended in order TO relieve, not cor
porations, but the people, from limi-
tations upon their business activity
which this act imposes, although in
fxr a N a
public interest. II is not combina-
ton itself so much as it is unfair dis
elimination which should arouse our
criticism and our opposition.
Wade H. Ellis. attorney general of
Ohio. spoke on THE states and the
Trusts"
A. p. Ankeny. of Minneapolis, spoke
on the question of whether the power
to regulate transportation rates rests
with congress or with the states
Mr.. Ankeny i'm discussing the rail-
road rate question, expressed the
opinion that, even If the United States
supreme court eventually shall rule
that the state legislatures in some in
stances have exceeded their rights in
their efforts to regulate railroads and
fix rates, it is not likely that the old
rates ever will be restored. Even
should the court hold that in the
cases now pending. congress has prop
erly acted and that the state legisla-
lures have exceeded their true pow
ers." said he, "can il be said that the
efforts on their part are without
value? Ply no means. Even If wrong
in the methods pursued they are right |
in the objects TO be attained II is
not likely that the old rates ever will |
be restored. Without such action by |
the states, public sentiment never
could have been focused. They are |
plain notice to congress and its com |
mission that if this duty is theirs 1t |
must be met with more viger and more
wisdom than has heretofore been
shown. The commission acting up to
It's fun measure of responsibility. thus
comes TO be the most important ad- |
m ministratiVe department of the gov
ernment, and next only In value to the |
supreme court itself And II is well |
to remember the fact that whenever
a controversy with either congress or |
the executive has heretofore arisen, |
public confidence has usually followed |
the court. There at last is the sheet |
anchor Of our safety. If i'm the crisis |
through which we are passing there |
be any who fear an encroachment |
upon the rights Of the states, and !
dangerous Capitalization of power in |
the federal government. to them let |
me recommend the inspiring words of |
the great Father of the |
Constitution-when urging upon his |
'elloW citizens the adoption OF that sa-
,red instrument.
The powers proposed to be lodged
n the federal government are as little
to those reserved to the /
individual states as they are indis-
Densably necessary to accomplish the
purposes Of the union: and all those |
llarms which have been sounded of
neditated and consequent humiliation
II the state governments, must on the
most favorable interpretation be as
ribbed TO the chimerical fears Of the
authors Of them.