The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1907-12-06

merce, in the exercise Of the authority
1t 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 en-
erclsed for their own benefit and pros
pertty no less than for the protection
or investors and Of the general public.
AS have repeatedly sale in messages
to the congress n elsewhere, expert
ence has definitely shown not merely
the unwisdom but the futility of en-
deaVorlng to put a stop to all busi-
ness combinations. Modern industrial
conditions are such hat combination
Is not only necessary but inevitable. 1t
is so in the world Of business just as
it is in the world Of labor, and it is
idle to desire to put an n to all
corporations. to all big combinations
OF capital, as to desire to put an end to
the combinations of labor. Corporation
n labor union alike ave come to
stay. Each, il properly managed ia a
source OF good and not evil. Whenever
In either there is evil. it shoald be
promptly held to account; out it should
receive hearty encouragement so long
as 1t is properly managed. 1t Is pro-
oundl immoral to put or keep on the
statute books a law. nominally in the
interest OF public morality, that really
puts a premium upon public immoral
1ty, 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 be the condition prece-
dent upon business success. To aim at
n accomplishment of too much usual
~ means the accomplishment OF too
little, and often the doing of positive
damage.
Forbid the Evil Combination.
(Here the president cited previous eX-
presslons to the effect that the Sher-
man anti-trust act is SO framed that
the business Of the country cannot be
conduct without breaking it,
The antitrust law should not (:
4: be repealed; but it should be made /:
!: harmony with actual conditions. !:
1t should be amended so as to I:
/: forbid only the kline of combin- {:
!: alton Which does harm to the gen {:
eral public. such amendment to !:
{: be accompanied by, or to be an (:
I: incident OF, a grant of supervisory /:
F.: 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
government officials. A beginning
has already been made for such
supervision by the establishment
of the bureau of corporations. /:
The anti-trust Law, should not pro-
hibit combinations that 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 We're 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 even
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; it is not feasible to
carry on more than u limited number
of such suits. such a law to be really
effective must of course be admin
istered by an executive body. and 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. d
A combination should not be toll
Grated il it abuse the power ac-
CURED by combination to the pub
lie detriment. No corporation or
: association of any kind should be
/: permitted to engage in foreign or
:. 1nforGt2fa commerce. that 10 fnry,1l {.
for n purpose of, or whose OPP
!: eratlons create, a monopoly or gem /:
eral control oe the production, sale, +:
/: or distribution of any one or more
of the prime necessities of life or
/: articles of general use and neces- !:
sity. Such combinations are
against public policy; they violate
I: the common law: the doors of the
f: courts are closed to those who are
parties to them. n l believe the
congress can close the channels Of
+: interstate against them
for it's protection. The law should /:
/: make it's prohibitions and permits /:
sions as clear and definite as pos !:
sib!e. leaving the least possible I:
room for arbitrary action, or all
legation Of such action, on the part
/: Of the executive or of divergent
Interpretations by the courts.
!: Among h points to be aimed at
should be the prohibition of UNI
/: healthy competition such as by
(: rendering service at al actual loss
for the purpose of crushing out
/: competition, the prevention Of in !:
F: f1ation 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 !:
{: tons should be permitted. provided {:
{: they are first submitted to and APP !:
proved by some appropriate gov !:
body. ::
. . . F. . . . . F. {. &.
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 II PROVISIONS OF WHICH
EXISTING CORPORATIONS COULD
TAKE OUT FEDERAL CHARTERS
AND NEW FEDERAL CORPORA
TONS COULD BE CREATED.
License a. an Alternative,
An essential provision Of such a law
should be a method Of predetermininR