The news-democrat. (Providence, R.I.) 1906-1909, 1907-12-03

upon both the department OF justice
and the courts an impossible burdenA 1t
Is not feasible to carry on more than
limited number Of such suits. Such q
law to be really effective must of
course be administered by an executive
body and not merely by means of law
suits. The design should be to pre-
vent the abuses incident to the creation
of unhealthy and improper combina.
tions instead Of waiting until they are
In existence and then attempting to de-
stroy them by civil or criminal pro-
ceedings.
A combination should not be toler-
ated IL 1t abuse the power acquired by
combination to the public detriment.
No 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 gener.
al control of the production, sale OF
distribution of any one or more Of the
prime necessities Of life or articles of
general use and necessity. Such com
binations are againstpublicp policy. They
violate the common law; the doors
of the courts are closed TO those who
are parties to them, and l believe the
congress can close the channels Of in
terstate commerce against them for its
protection. The law should make its
prohibitions and permissions as clear
and definite as possible. leaving the
least possible room for arbitrary action
or allegation Of such action on the part
of the executive or of divergent inter
pretations by the courts. Among the
points to be aimed at should be the
prohibition OF unhealthy competition,
such as by rendering service at an ac-
tual loss for the purpose Of crushing
out competition, the prevention of in
fiation of capital and the prohibition
of corporations making exclusive
trade with itself condition Of having
any trade with itself. Reasonable
agreements between or combinations
of corporations should be permitted,
provided they are first submitted TO
and approved by some appropriate gov
ernment body.
The congress has the power to char
ter corporations to engage in interstate
and foreign commerce. and general
law can be enacted under the pro-
visions Of which existing corporations
could take out federal charters and
new federal corporations could be Gre
ated AS essential provision of such Il
law should be a method Of predeter-
mining by some federal board or COM
whether the applicant for
federal charter was an association or
within the restrictions of
the federal law. Provision should also
be made for complete publicity in all
affecting the public and COM
plete protection to the investing public
and the shareholders In the matter Of
issuing corporate securities. If an in
law is not deemed advisa-
BILE, a license act for big interstate corr
porations might be enacted or COM
hinatlon 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
of the methods which eX-
perience has shown have been of most
service in enabling monopolistic COM
binations TO crush out competition.
The real owners Of corporation
should be compelled to do business in
their own name The right to hold
stock i'm other corporations should here
after be denied to Interstate corpora
tions unless on approval by the proper
government officials, and prerequisite
to such approval should be the lasting
with the government of all owners and
stockholders, both by the corporation
owning such stock and by the corpora
ton i'm which such stock is owned.
To confer upon the national govern
ment. in connection with the amend
ment | advocate i'm the antitrust law,
power of supervision over big business
concerns engaged i'm interstate COM
merce would benefit them as 1t has
benefited the national banks. In the
recent business crisis it is noteworthy
that the institutions which failed were
institutions which were not under the
supervision and control Of the national
government. Those which were under
national control stood the test.
National control of the kind above
advocated would bc to the benefit of
every well managed railway
the standpoint of - public there Is
need for additional tracks, additional
terminals and Improvements in the
actual handling of the railroads, and
all this rs rapidly as possible. Ample,
safe and speedy transportation facili-
ties are even more necessary than
cheap transportation. Therefore there
is need for the investment of money
which will provide for all these things
while at the same time securing rs far
as is possible better wages and shorter
hours for their employees. Therefore.
while there must be just and reason
Regulation of rates, we should be
the first To protest against any arbitra-
ry and unthinkifg movement to cut
them down without the fullest and
a AZ III 49,