The morning journal-courier., 1908-03-26
CONGRESS GETS
 MILD MESSAGE
Continued from Eighth Page

mate at least one of the receivers; or . else in some other way the interests ot | the stockholders should be consulted so that the management may not be wholly redelvered to the man or men the failure of whose policy may have necessitated the creation of the receiv- ership. Receiverships should be used, not to operate roads, but as speedily as possible to pay their debts and re- turn them to the proper owners.
 In addition to the reasons l have al ready urged on your attention, it has now become important that there should be an amendment of the anti trust law, because of the uncertainty as to how this law affects combinations among labor men and farmers, if the combination has any tendency to re- strict interstate commerce All of these combinations, if and while existing for and engaged in the promotion of inno- cent and proper purposes, should be recognized as legal. As l have repeat edly pointed out, this antitrust law was a most unwisely drawn statute. It was perhaps inevitable that in feeling after the right remedy the first at tempts to provide such should be crude; and it was absolutely imperative that some legislation should be passed to control, in the interest of the public, the business use of the enormous az gregations of corporate wealth that are so marked feature of the modern ln- dustrial world. But the present anti trust law, in it's construction and work ing, has exemplitied only too well the kind of legislation which under the guise of being thorough going, ls drawn up in such sweeping form as to become either ineffective or else mis- chievous
 In the modern industrial world com- binations are absolutely necessary; they are necessary among business men. they are necessary among labor ing men, they are becoming more and more necessary among farmers. Some of these combinations are among the most powerful of all instruments for wrongdoing. Others offer the only ef- fective way of meeting actual business needs. It is mischievous and unwhole- some to keep upon the statute books unmodifled a law. like the antitrust law, which, while in practice only par \ tially effective against vicious eombin- | atons, has nevertheless In theory been construed so as swecplngly to prohibit every combination for the transaction of modern business, Some real good has resulted from this law, But the time has come when fl is imperative to mod fly it. Such modification Is urgently needed for the sake of the business men of the country. for the sake of the l wage-workers, and for the sake of the farmers. The Congress cannot afford tc leave it on the statute books in it's present shape.
 It has now become uncertain how far this law may involve ali labor or ganizations and farmers organizations, as well as all business organizations, in conflict with the law; or, if we secure literal compliance with the law. how | far it may result in the destruction of the organizations necessary for the | transaction of modern business, as well as of all labor organizations and farm CTS organizations, completely check the cooperation among farmers, and put back half a century the progress of the movement for the bettermcnt of labor A bill has been presented in the Con gress to remedy this situation. Some such measure as this bill is needed in the interest of all engaged in the in- iG"tries which are essential to the country's well-being. I do not pretend to say tie exact shape that the bill should take, and the suggestions l have to offer are tentative: and my views would apply equally to any oth- CT measure which would achieve the desired end. Bearing this in mind, would suggest, merely tentatively, the following changes in the law:
 The substantive part of the anti trust law should remain as at present; that is, every contract in restraint of trade or commerce, among the several States or with foreign nations should continue to be declared illegal: provid- ed, however, that some proper govern mental authority (such as the commis. sioner of Corporations acting under the Secretary of Commerce and I4abor) ht allowed to pass on any such contracts Probably the best method of providing for this would be to enact that any con. tract, subject to the prohibition con. talned in the antitrust law, into which it was desired to enter, might be fleC with the Bureau of Corporations O. other appropriate executive body Thi! would provide publicity. Within, say sixty days of the filing which period could be extended by order of the ,le
 partment whenever for any reason i did not give the department sufficien time for thorough examnation-tht executive department having bowel might forbid the contract, which woul, then become subject to the provisions of the antitrust law, if at all in re- straint of trade
 If no such prohibition was issued tn, contract would then only be liable (, attack on the ground that ii constI tuted an unreasonable restraint O trade Whenever the period of filint had passed without any such prohib
 tion. the contracts or combination
 could be disapproved or forbidden onl, after notice and hearing with reason able provision for summary review oi appeal by the courts. Labor organiza. tinnS farn,erci ort~a r,I-a.ior,e ,.,5 ,.l,
 CT organizations not organized for pur
 poses of profit, should he allowed ti register under the law by giving tht location of the head office the chartc
 and bylaws. and the names and ad
 dresses of their principa officers. In th
 interest of all the organizations -busi ness. labor, and farmers organization
 alike-the present provision permittini the recovery of threefold damage