The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1907-12-06

the consent OF the Interstate commerce
commission being frst obtained. Until
| the national government assumes
proper control OF interstate commerce.
In the exercise OF the authority It al
ready possesses, It will be impossible
either TO give TO or to get from the
railroads full justice. The railroads
ana all other great corporations will
DO well to recognize that this control
must come; the only question is as to
what governmental body can most
wisely exercise IT, The courts will de-
termlne the limits within which the
FEDERAL authority can exercise IT, and
there Will stlll remain ample work
within each state for the railway com
mission OF that state: and the national
Interstate commerce commission Will
work in harmony with the several state
commissions. each within its own prov
ihce. to achieve the desired end.
Control of Interntnte
business Concern. Urged.
Moreover, In my judgment there should
be additional legislation looking to the
proper control OF the great business con-
Germs engaged in Interstate business, this
control TO be exercised for their own
bcneht and prosperity no less than for
the protection OF investors and of the
general public. As l have repeatedly
SAID In messages to congress and else
where. experience has definitely shown
not merely the unwisdom but the futllty
OF endeHyorinB to put a stop to all busi-
ness combinations Modern industrial
conditions are such that combination is
not only necessary but Inevitable. II Is
so IN the world of business just as Il tx
SO IN tho world OF labor. and 1t is as idle
to desire to put an end to all CORPORA
TONS TO all big combinations of capital.
as TO desire to put an end to comblua-
uohs OF labor Corporation and labor
union uNkc have come to stay. Each II
properly managed IL source OF good
and not evil Whenever In either there
is evil, 1t should be promptly held TO ne
count but 1t should receive hearty on
enlargement 50 long as II ls properly
managed. 1t is profoundly immoral to
put or keep on the statute books a law
noWinaliy IN the interest of public moral.
ny, that really puts premium upon
public immortality. by undertaking TO
forbid honest men from doing what must
be done under modern business cuadi-
tons, so that the law Itself provides that
It's own infraction must be the condition
precedent upon business success. To aim
At the accomplishment OF too much uzu-
ally means the ucComplis hment Of too nt-
tie. ana often the doing OF positive dam
age.
The antitrust law should not be re-.
pcal"d; but 1t should be made both more
efcient and more In harmony with net
ual conditions. 1t should be SO amended
as 10 forbid only the Kind ot combination
which does harm to the general public,
such amendment to be accompanied by
or 10 be an Incident Of. a grant OF su-
perNlsory power To the government over
these big corporations engaged In inter
state business. This should be accom-
panied by provision for the compulsory
publication of accounts and tho grIbirr-
ton Of books and papers to tho inspcr-
ton OF the government officials \ be-
ginning has already been made for such
supervision by the establishment OF tho
bureau OF corporations
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 II this feature OF the
law were abolished. there would remain
as an equally Objectionable feature the
and delay now Incident to it's
enforcement. The government must now
submit to irksome and repeated delays
before obtaining haal decision OF the |
courts upon proceedings instituted and |
even favorable decree may mean an |
empty victory Moreover to attempt 20 |
control these corporations by lawsuits |
meaNS to impose upon both the depart |
nent OF Justice and the courts an I'm |
possible burden; It is not feasible to carry |
III more than a limited number Of such |
suits. Such law to be really effective |
must OF course be administered by an
Executive body. and not merely by means
II lawsuits. The design should be to
prevent the abuses incident to the crea-
ion of unhealthy and improper comblna-
Ions. instead OF waiting until they are
n existence and then Attempting to de-
troy them by civil or criminal proceed
ncs.