Daily Arizona silver belt., 1907-12-04
Good Trusts O. K.


 The antitrust law should not prohibit combinations that do no injustice to the public, still less those the existence of which is on the whole of benefit to the public. But even if this feature of the law were abolished, there would re- main as an equally objectionable fea- ture the difficulty and delay now in- cident to its enforcement. The Gov ernment must now submit to irksome and repeated delay before obtaining final decision of the courts upon pro ceedings instituted. and even q favor able decree may mean an empty vic tory. Moreover, to attempt to control these corporations by lawsuits means to impose upon both the Department of Justice and the courts an impossible burden; it is not feasible to carry on more than limited number of such suits. Such a law to be really effective must of course be administered by an executive body, and not merely by means of lawsuits. The design should be to prevent the abuses incident to the creation of unhealthy and improper combinations, instead of waiting until they are in existence and then attempt ing to destroy them by civil or crim- inal proceedings.
 A combination should not be tolerated if at abuse the power acquired by com bination to the public detriment. No corporation or association of any kind should be permitted to engage in for eign 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 con- binations are against public policy; they violate the common law; the doors of the court are closed to those who afe parties to them, and l believe the Con- gress can close the channels of inter- state commerce against them for it's 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 in- terpretations 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 fation of capital, and the prohibition of corporation s 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 Government body.
 For Federal Charters
 The Congress has the power to chart CT corporations to engage in interstate and foreign commerce, and a general law can be enacted under the provisions of which existing corporations could take out Federal charters and new Fed 1 eral corporations could be created. An essential provision of such law should be a method of predetermining i by some Federal board or commission l whether the applicant for Federal charter was an association or combi- | nation within the restrictions of the Federal law. Provision should also be made for complete publicity in all mat ters affecting the public and complete protection to the investing public and | the shareholders in the matter of is- suing corporate securities. If an in- corporation law is not deemed advis- able, license act for big interstate might be enacted; or a of the two might be tried.