The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1907-12-05

would remain as an equally objection
able feature the difficulty and delay
now incident to its enforcement. 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 attempting to destroy them by
civil or criminal proceedings.
Law Shouo 3 Explicit
A combination should not be tolerat-
ed if it abuse the power acquired by
combination to the public detriment.
The law should make its prohibitions
and permssions as clear and definite
as possible, leaving the least possible
room for arbitrary action or allegation
of such action on the part of the execu-
tive Or Of divergent interpretations by
the courts.
Among the points to be aimed at
should be the prohibition of unhealthy
competition. Reasonable agreements
between or combinations Of corpora
lions should be permitted provided they
are first submitted to and approved
by some appropriate government body.
The congress has the power to char
ter corporations to engage in interstate
and foreign commerce, and a general
law can be enacted under the provi.
bions of Which existing corporations
could take o1t federal charters and
new federal corporations could be ere
ated. An essential provision of such
law should be method of predeter-
mining by some federal board or COM
mission whether the applicant for
federal charter was an association or
soiAbination within the restrictions of
the federal law.
The real owners of corporation
should be compelled to do business in
their own name. The right to hold
stock in other corporations should here
after he denied to interstate corpora
tons, unless on approval by the proper
government officials.
S ons OF Recent Crisis
To confer upon the national govern
ment in connection with the amend
ment | advocate IN the antitrust law
power of supervision over big business
concerns engaged in interstate com
merce would benefit them as it 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 be to the benefit of
every well managed railway. There
is need for the investment OF money
which will provide for necessary i'm
provements. while at the same time Sc
curing as far as is possible better
wages and shorter hours for their EN-
ployes Therefore, while there must
be just and reasonable regulation of
rates, we should be the first to protest
against any arbitrary and unthinking
movement to cut them down without
the fullest and most careful considera
ton of all interests concerned and Of
the actual needs of the situation.
No Undue Federal ACTIVITY
Those who fear from any reason the
extension Of federal activity will do
well to study the history not only of
the national banking act, but of the
pure food law, and notably the meat
inspection law recently enacted. The
pure food law was opposed so violent
ly that its passage was delayed for a
decade, yet it has wOrke ed unmiXed and
immediate good. The meat inspection
law was even more violently assailed.
Two years have not elapsed, and al
ready it has become evident that the
great benefit the law confers upon the
public is accompanied by an equal ben
eft to the reputable packing establish
ments. The latter are better off under
the law than they were without it.
The benefit to interstate common car
riers and business concerns from the
legislation | advocate would be equal
ly marked
Currency Legs alton NJ eded
again urge on the congress the
need of immediate attention to the
matter of currency legislation. We
need greater elasticity N our cur
rency, provided of course tina We rtcGg
nize the even greater need of II safe aud
secure currency. Provision should be
made for an emergency currency. II j..
worth investigating to detern ~
whether officers and directors of ~.
tional banks should ever be allowed l.
loan to themselves. Trust compen
should be subject to the same supotN.
sion as banks.
Yet we must also remember tina.
even the wisest legislation on the -
ject can only accomplish cCrtaa
amount No legislation can by any
possibility guarantee the business com
mun.ty against the results Of Specua
tive folly any more than ii can guaran
tee an individual against the results o..
his extravaganza. When wealthy men
or men who pose az such are unscrupu
lousy or foolishly eager to become such
indulge in reckless speculation. espe
clally il II is accompanied 10y dishon.
esty. they jeopardize not only their owl.
future, but the future Of all their .nno
cent fellow citizens for they expose
the whole business community to panic
and distress.
MOI Time to Revise Tariff
IA nttst- &c doG tntx ttx.l