Kingsbury County independent. (DeSmet, Kingsbury County, S.D.) 1894-1929, 1907-12-13


| to the consent Of the Interstate Com
! merce commission being first obtained.
| Until the national government as
! sumes proper control Of interstate COM
, merce, in the exercise of the authority
II already possesses. 1t Will be impos-
sible either to give to or to get from the
railroads full justice.
Sherman Antitrust Law.
Moreover, In my Judgment there
should be additional legislation look
ing to the proper control of the great
business concerns engaged In inter-
state business, this control to be ex-
ercised for their own benefit and pros
| perity no less than for the protection
of investors and OF the general public.
AS l have repeatedly sale in messages
to the congress ard elsewhere. expert
ence has definitely shown not merely
the unwisdom but the futi1ity of en-
deavoring to put a stop to all bust
ness combinations. Modern industrial
conditions are such that combination
is not only necessary but inevitable. 1t
is so In the world of business just as
1t is in the world of labor. and 1t is
Idle to desire to put an end to all
corporations, to all big combinations
of capital, as to desire to put an end TO
the combinations of labor. Corporation
ollu ldOOI uiitOAl uilhC AoNC SSAAAV w
stay. Each, If properly managed Is a
source Of good and not evil. Whenever
In either there is evil, ii shoSld be
promptly held to account; blu 1t should
receive hearty encouragement so long
as it is properly managed. 1t Is pro-
foundly immoral to put or keep on the
statute books a law, nominally in the
interest OF public morality, that really
puts a premium pom public immoral
ity, by undertaking to forbid honest
men from doing what must be done I'M
der modern business conditions, so that
the law itself provides that its own in
fraction must De the condition prece-
dent upon business success. To aim at
the accomplishment of too much usual
ly means the accomplishment OF too
little, and often the doing Of positive
damage.
Forbid the Evil Combination.
(Here the president cited previous ex-
pressions to the effect that the Sher-
man antitrust act is so framed that
the business of the country cannot be
conduct without breaking it,
The antil-trus law should not !:
be repealed; but it should be made /:
both more efficient and more in (:
/: harmony with actual conditions. {:
1t should be amended so as to /:
forbid only the kind of combin- !:
alton which does harm TO the gem /:
eral public, such amendment to !:
be accompanied by, or to be an /:
incident OF, a grant of supervisory ::
power to the government over ::
these big concerns engaged in in ::
terstate business. This should be ::
accompanied by provision for the ::
compulsory publication OF accounts I:
and the subsection of books and {:
papers to the inspection OF the !:
. A-t >H1Afa1n A NO. ~ iYNr .
has already been made for such ::
supervision by the establishment ::
of the bureau OF corporations. ::
The antitrust Law should not pro-
hibit combinations hat do no injustice
to the public, still less those the eX-
istence of which is on the whole of
benefit 70 the public. But even If this
feature of the law were abolished,
there would remain as an equally OBJ
~jectionable feature the difficulty and
delay now incident to it's enforcement.
The government must now submit to
irksome and repeated delay before OBJ
tanning a final decision of the courts
upon proceedings instituted, and wen
a favorable decree may mean an empty
victory. Moreover, to attempt to con-
troll these corporations by law suits
means to impose upon both the depart
ment of justice and the courts an i'm
possible burden; 1t is not feasible to
carry on more han a limited number
of such suits. Such a law to be really
effective must of course be admin
istered by an executive body, n not
merely by means of law suits. The de-
sign 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.
Condemns Trusts in Necessities.
: A combination should not be toll /:
Grated If it abuse the power &C !:
quired by combination to the pub {:
lie detriment. No corporation or Z:
association of any kind should be /:
permitted to Engage in foreign or {:
interstate that is formed (:
for the purpose of, or whose OPP {:
/: erations create, a 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 n neces- I:
sity. Such combinations are /:
I: against public policy; they violate /:
the common law: the oorS of the /:
courts are closed to those who are /:
parties to them, and l believe the !:
/: congress can close the channels of !:
Interstate COlllilleICS dSdluSI lleIl .
for it's protection. The law should /:
make its prohibitions and permits /:
sions as clear and definite as pos /:
I: sible, leaving the least possible 4:
:: room for arbitrary action, or al /:
legation of such action, on the part /:
of the executive or of divergent +:
interpretations by the courts. /:
Among the points to be aimed at /:
should be the prohibition of UNI /:
healthy competition such as by /:
rendering service at az actual loss f:
for the purpose of crushing out !:
competition, the prevention of in /:
flation of capital, and the prohi- (:
bition of a corporations making /:
exclusive trade with itself a con- /:
dition of having any trade with /:
itself. Reasonable agreements be- !:
tween, or combinations of corpora /:
tions should be permitted, provided
they are first submitted TO and APP /.
proved by some appropriate gov /:
eminent body. [:
THE CONGRESS HAS THE POW
Err TO CHARTER CORPORATIONS
TO ENGAGE IN INTERSTATE AND
FOREIGN COMMERCE, AND A GEN
ERAL LAW CAN BE ENACTED UN-
DER THE PROVISIONS OF WHICH
EXISTING CORPORATIONS COULD
TAKE OUT FEDERAL CHARTERS