Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1908-03-26

way the interests OF the stockholders
should be consulted. so that the
management may not be wholly re.
delivered to the man or men the
failure OF whose policy may have
| necessitated the creation of the re-
ceivership. Receiverships should be
used, not to operate roads, but as
speedily as possible to pay their
debts and return them TO the proper
owners
In addition to the reasons / have
already urged on your attention. IL
has now become important that
| there should be an amendment OF
the antitrust law, because OF TIE UNI
certainty as TO how this law affects
combinations among labor men and
farmers, If the combination has any
tendency to restrict interstate com
merce. All of these combinations.
II and while existing for and en-
gagged in the promotion OF innocent
and proper purposes. should be rec
ognized as legal. AS | have repeat-
eddy pointed out, this antitrust law
was most unwisely drawn statute.
| 1t was perhaps inevitable that in
Keeling after the right remedy the
first attempts to provide such, should
be crude; and It was absolutely i'm
perative that some legislation
should be passed to control in the
l interest NJ tho
use OF the enormous aggregatlons of
corporate wealth that are so marked
feature of the modern Industrial
world. But the present antitrust
law, in its construction and work
| ing. has exemplified only too well
the kind of legislation which. un-
der the guise Of being thorough
going, is drawn up in such sweeping
form as to become either ineffective
or else mischievous.
COMBINATIONS NECESSARY.
In the modern Industrial world
combinations are absolutely neces-
sary; they are necessary among
business men. they are necessary
among. laboring men, they are be-
coming more and more necessary
among farmers. Some OF these
combinations are among the most
powerful of all instruments for
wrongdoing. Others offer the only
effective way of meeting actual bus
mess needs. 1t is mischievuus and
] nnWhOlRSnma IN Ennn ha
| statute books unmodified a law, like
the antitrust law, which, while i'm
! practice only partially effective
against vicious combinations, has
nevertheless in theory been con-
strued so as sweepingly to prohibit
every combination for the transac-
ton of modern business. Some real
! good has resulted from this law.
But the time has come when 1t is
imperative to modify it. Such
modification is urgently needed for
| the sake of business men OF the
country for the sake of the wage
workers, and for the sake of the
farmers. The congress can not af-
ford to leave it on the statute books
in its present shape.
1t has now become uncertain how
far this law may involve all labor
| organizations and farmers organi-
cations, as well as all business or
/ CARNATIONS, in conflict with the law:
/ or, If we secure literal compliance
with the law, how far it may result
in the destruction OF the organiza-
tions necessary for the transaction
OF modern business, as well as all
labor organizations and farmers
organizations. completely check the
wise movement for securing bust
ness cooperation among farmers.
and put back half a. century the
/ progress OF the movement for the
| betterment OF labor. A bill has been
| presented in the congress TO remedy
| this situation. Some such measure
as this bill is needed i'm the interest
/ OF all engaged in the industries
( which are essential to the country's
well-being. I do not pretend to say
] llt tAdti shape LUdL the Dill S0Oul0
take, and the suggestions I have to
| offer are tentative. and my views
would apply equally to any other
measure which would achieve the
| desired end. Bearing this I'm mind.
/ would suggest, merely tentatively.
the following changes in the law:
The substantive part OF the anti
trust law should remain as at pres
ent: that is, every contract in re-
straint Of trade or commerce among
/ the several states or with foreign
nations should continue to be de-
/ clare1 Illegal; provided. however.
/ that some proper governmental au-
/ thority tsuch as the commissioner
/ OF corporations acting under the
\ secretary Of commerce and labor
be allowed to pass on any such con
/ tracts. Probably the best method
/ OF providing for this would be to en-
act that any contract. subject to the
. prohibition contained In the anti