Weekly Arizona journal-miner. [volume] (Prescott, Ariz.) 1903-1908, 1907-12-11

given To- enter mo tkF'fHn'HiNs
subject to these agreements being made |
hubble In minute detail and to tn con- /
srnt OF the Interstate commerce Com |
mission being first obtained. lnul me
National Government assumes proper |
control of interstate commerce, In the |
exercise Of IN" authority II already pos |
s"sseS. II Will be Impossible Hther W
give to or To get from the railroads iull
Justice Tn" railroads ana all Oth'r |
gr~,at corporations VIII do well 10 r"og- |
nlzo that this control must come. the
only question IL "a t0 what government
al body can most wisely exercise " IN"
, courts will determine the limits within
which the Federal authority can exercise
II. and there will still remain ample WORK
! within each state for the railway com.
mission of that state. and the National
! Interstate Commerce Commission VIII
work I'm harmony with the several state
| commissions each within liz own pro-
, yinc", to achieve the desired cnd.
SHERMAN ANTITRUST LAW.
T Moreover. In my Judgment there thould
, be additional legislation looking To the
proper control of the great busincsN con-
Germs engaged IN Interstate business,
/ this control 10 be exercised for their own
! benefit and prosperity no less man Tor
| the protection Of investors ana "f the
general public As ] have repeatedly
/ said In Messages To the Congress and
I elscwherc. experience has definitely
/ shown not merely IN. unwisdom but the
/ futnHy Of endeavorlnR to put n stop To
all business combinations Modern in
du-trial conditions are such that com
/ bination II not only necessary but inevi-
| tabl" II II 80 In the world OF business
/ Just AK II " 80 In the world OF labor. and
! II Is MS idle To desire 10 put an end To all
| corporations. TO all big combinations OF
| capital. ~ To desire To put an end TO
| combinations OF labor. Corporation and
labor union alike have come 10 stay.
| Each II properly managed II "a source OF
! good and not evil. Whenever In either
there IN evil. II should be promptly held
t.say ..l.r.. hon. 81
! encouragement 40 long az II IL properly
managed. II u profoundly immoral to
put or keep on the statute books law.
| nominally In the interest Of p,iaic NOR
| ality, that really puts premium upon
public immortality. by undertaking to for
bid honest men from doing what must
be done under modern business condi-
| lions, 80 that the law itself provides
that Ia own iDfraction must he the con-
dillon precedent upon business success.
To aim az the accomplishment OF too
much usually means the accomplishment
of too litie and often the doing of posi-
tive damage. In my Message to the
Congress year ago. IN speaking OF the
antitrust laws, ! said:
| THE actual working Of our laws has
shown thnt the effort TO prohibit all com
bination. good or bad, II noxious where
IL Is not ineffective. Combination Of
capital. like combination 81 labor. II a
necessary element In our present indus
trial system IL IL not possible complete
~ to prevent u. and " " were possible.
such complete prevention would do dam
age 10 the body polite. What we need
~ not vainly to try to prevent all COM
bination. hut to secure such rigorous and
adequate control and supervision of the
combinations as to prevent their injur-
az inevitably TO threaten injury.
u IN unfortunate that our present laws
should forbid all combinations instead OF
sharply discriminating between those
combinations which do good and those
combinations which do evil. Of
ten railroads would like to combine for
The purpose OF preventing a big shipper
from maintaining improper advantages
al the expense OF small shippers and Of
the general public. Such a combinat ion.
instead OF being forbidden by law. should
be favored II IN "a public eva to
have on the statute books a Jaw incap-
able OF full enforcement. because both
Judges and juries realize that Its fun en-
forcement would destroy the business Of
| the country; for the result II To make
, decent men violators OF the law against
their Will. and 10 put premium on the
behavior OF the wlllful wrong doors.
decent man ana the willfui wrongdoer
Into close association. and In the end to
drag down the former to the latter's
level; for the man who becomes "a law
breaker IN one way unhappily tends to
. lose all respect for law and 10 be willing
, Ia break u In many ways. No more
scathing condemnation couh be visited
upon a law Than Is contained In the
mission when. In commenting upon the
fact mat the numerous joint traffic as
sociations do technically violate the law.
. they say The decision Of the United
, states Supreme Court In the Trans Mis-
. souri, case and the Joint Traffic Assocla-
/ ton case has produced no practical ef-
feet upon the railway operations Of the
country. Such associations, In fact. ex-
ist now as they did before these deci-
/ sions. and with the same general effect.
, In Justice to all parties. we ought prob
IN Md ehs.t a. L. H..
our Interstate railways could be on tied
with due regard TO the interest OF the
shipper and the railway without con-
, ,srted action OF the kind afforded
through these associa tons
This means that the law az construed
, W me supreme Court II such that the
business Of the country can not be con-
Quoted without breaking It,"
As ! have elsewhere said:
. An this IL substantially what I have
! said over and over again. Surely II
: ought not to be necessary to say that u
IN no shape or way represents any hos
tinty 10 corporations as such. ON the
contrary. II means frank recognition
% the fact that combination Of capital.
like combinations OF labor, are "a natural
, result OF modern conditions and OF our
National development As far as In my
hDniiy Hes my endeavor IL and will liz Ia
D prevent abuse OF power by either and To
favor both 50 long ~ they do well. The
aim OF the National Government II quite
as much To favor and protect honest cor
porhtions, honest business men of wealth
as To hiring Ia justice those individuals
ana corporations representing dishonest
methods. Most certainly there viii be
| no relaxation By the Government author.
fties IN the EFFORT to get at any great
J, raiiroad wrecker-any man who by clever
hwindling devices rObs investors. op.
y presses wage-workers, ana does injustk,.
= 10 the general public. But any such
I move as this Is In the interest of homes,
/" tarl~ay operators. Of honest corpora.
y lions. ana OF those who, when they In.
y vest their small savings In stocks and
y bonds, wish tn be assured that these VIII
represent money honestly expended fol
!, legitimate business purposes. TO confer
" upon the National Government the power
n Tor which ask would be check uppr
y IN clever gamblers who benefit by over
Il capitalization, But II alone would Near
- an Increase In the value. an Increase IL
y the safety of the stocks and bonds ol
u iaw-abidlng, honestly managed railroads
u ana would render II far easier To mark N
! their securities. ! believe In proper pub
= liciiy There has been complaint OF SON,
y OF thc investigations recently carried on
nut Those who complain should put IN.
"a hsaF l...l..