The new era. (Walden, Colo.) 1906-19??, 1908-10-08
Tmpracticable Democratic PROPOSE.
ton for Trust Control.
Convincing Exposition of Fallacy Of
Bryan's Panacea for Solving
Problems of Modern
Business.
(From Gov. Hughes Youngstown
speech


proposed for the trusts, we find our
selves iourneying IN land of dreams.
Again the magician OF 1896 waves his
wand. At stroke difficulties disip-
pear and the complex problems of mod
ern business are forgotten in the fas-
cination of the simple panacea. And.
as the free coinage of silver in the
ratio of 10 to | was to destroy the
curse of gold, so the new found specific
of equal perfection is to remove the
curse of industrial oppression. The de-
fusion of 1908 is comparable only to
that of twelve years ago.
The first suggestion is that the law
rectors among competing corporations.
However advisable it may be to have
independent directorates of competing
corporations. it would seem still more
important to have independent stock
holders. for Il majority of the stock
holders of corporation choose the di
rectors. III law We're passed pre-
venting the duplication of directors 1t
would easily be evaded In the selection
Of men who wcu!a represent the same
interests. The most ordinary exper-
ience shows that 1t is not necessary TO
serve on board of directors in order
to control its proceedings. Whatever
the advantage of such II law as is pro,
posed. it hardly rises to the dignity nj
Il remedy" or vindicates its title to Il
place in an imposing scheme of reform
outlined In national platform.
But the more important proposal is
that any manufacturing or trading
corporation enga ged in Interstate com
merce shall be required to take out u
federal license before it shall be per-
mitted to control as much as % per
cent of the product in which it deals"
A license is permission, and the object
of the remedy Is not to regulate large
businesses. but to destroy trusts. Hence
the supposed efficiency of the plan is to
be found In the prohibition of the con-
troll by any such corporation "of more
han 30 per cent Of the total amount OF
any product consumed in the United
States. This Is another delusIon of
ratio.
1t might be interesting to inquire
what is the meaning of "any product
consumed in the United States" Does
1t refer to a class of commodities:
And, If so. how shall the classes be de-
fined? Or does 1t refer to each sepa-
rate article of commerce? And. If SO
what account does this proposal take
the skill and initiative of manufac-
..rers who have built IN n more or
rss exclusive trade in partieulnr ar
!cles often protected by trademarks
although in most active competItion
with other articles designed for tn,
same general purpose and seeking TIL,
same market? In desire to correct
the evils of business are we to place
an embargo upon honest endeavor
whose activities present none of the
,,ot ,,,,,,+ s.tat,,t4z. ,an.',.. -
lay down our prohibition in terms of
volume or ratio Of business and not In
terms of right and wrong? If we
adopt Mr.. Bryan's proposal. to what pc
liod of production is the prohibition
TO apply? Is the excess for dny or
for month to be considered? Or is
the average production for year to be
taken? And what system shall be de
vised by which suitable information
may be furnished in the nature of dan
ger signals along the routes of trade
so that the manufacturer may know
when he is about to exceed the pre-.