The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1907-12-06
rnE ANrITRUsr LAW.


fo the proper control of the great busi-
ness concerns engaged In interstate
business. this control 90 be exercised
for their own benefit and prosperity /
mo- less than for the protection OF in- /
vestors and of the general public. As
/ have repeatedly said I'm messages To |
congress and elsewhere. experience has |
definitely shown not merely the unWis-
dom. hut the futility. Of endeavoring 10
uut stop to an business combinations.
Modern Industrial conditions are such
that combination is not only necessary
but inevitable. It is so IN the world OF
business just as it is so IN the world
of labor. and it is as idle 10 desire to put
an end to an corporations, 10 all Dig
combinations of capital. as to desire 10
put am end 10 combinations Of labor
CorporatiOn and labor union alike have
come 10 say. Each If properly man
aged is a source of good and not evil.
Whenever I'm either there is evh u
should be promptly held TO account
but 10 should receive nearly encourage
ment so long as It is properly managed.
IL is profoundly immoral 10 put OF
keep on the statute books law nomi-
nalv in the interest OF public morality
that really puts premium upon pub
lic immortality Dy undertaking TO for
bid honest men from doing what must
be- done under modern business condi-
tious So that the law itself provides
that ifs own lnfraction must be the
condition precedent upon business sue
cess. TO aim at the accomplishment
of too much usually mes is the accom-
ulishment of too little and often the do
ing of positive damage.
NOT REPEAL. But AMENDMENT
THE antitrust law should not be re-
pealcd. but # should bee made both
more efficient and more I'm harmony
with actual conditions. Il should be
so amended as TO forbid only the Kind
of combination which does harm 10 the
general public. such amendment 10 he
accompanied by or 10 bee am incident oil
q grant of supervisory power TO the
government over these big concerns
engaged I'm interstate business. This
should bee accompanied by provision
for tbe compulsory publication of ac
counts and the subjection Of books anc
pauers to the inspection of the gov
erumont officials. 4 beginning has al
ready been made for such supervision
/ hv the establishment Of the bureau oI
corporations. 800
THE antitrust law should not prohibi
combinations that do no injustice t'
fho public. still Jess those the existence
of which is on the whole of beneh
fo the public. But even If this feature
of fine law were abolished there woul'
remain as an equally Objectionable fea
ure the difficulty and delay now incl
dent 90 ifs enforcement The govern
ment must now submit 10 irksome an'
ropeoted delay before obtaining a tina
decision of the courts upon proceeding
instituted. aud even a favorable de
cree may mean an empty victory
Moreover. 20 attempt 10 control thes
corporations by lawsuits means TO i'm
nose upon both the department o
Justice and the courts an impossibl
burden. II IS not feasible to carry o.
b more than a limited number Of sue
suits. such a law to be really efeC
tive must Of course be administere
= bv an executive body and not merel
hv means Of lawsuits The desig
should be TO prevent the abuses inc
! dent to the creation of unhealthy an
improper combinations instead of wal
F ug until they are I'm existence an
then attempting to destroy them b
civil or criminal proceedings.
LAW SHOULD BE EXPLICIT.
A combination should not be tolera
+ ed If it abuse the power acquired b
combination TO the public detrimen
No corporation or association Of an
kind should De permitted TO engage
, foreign or interstate commerce that
formed for the purpose of or who's
operations create monopoly or gel
eral control of the production, sale
- distribution of any one or more of Il
prime necessities Of life or articles
general use and necessity such con
" binations are against public polio
" They violate the common law. III
doors of the courts are closed to tho
who are parties 10 them. and belize
the congress can close the channels
U interstate commerce against them f
/, It's protection The law should maj
u its prohibitions and permissions
'' clear and definite as possible, leavii
the least possible room for arbitra
J action or allegation of such action
u the part Of the executive or of dive
i' gent interpretations boy the courts.
'' Among the points 10 be aimed
u should he the prohibition Of unhealtl
ll eompctitlon. such as by rendering ser
g. ice mi am actual loss for the purpose
'o crushing ont competition, the preye
IT tlon of imitation of capital and the pi
'l hibition of q corporations making
ld elusive trade with itself a condition
le having any trade with itself ReasC
able agreements between or combir
H. tions of corporations should be p'
mitfed provided they are first subm
on ted 20 and approved by some app
n.y. pirate government body.
eI CONGRESS POWER.
The congress has the power To chi
= fer corporations to engage i'm intersti
D." and foreign commerce. and a genel
~ law cam be enacted under the pro
-ion- of which existing corporate
~ could take out federal charters a
new federal corporations could be G.
in atel. Am essential provision OF sncl
law should Dee a method Of predict
As mining hy some federal board or co
'ss mission whether the applicant foI
eh federal charter was an association
lD- combination within the restrictions
de thn federal law. Provision should q