The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-26
PRESIDENT COMES
TO THE FRONT AGAIN
Continued From Page /

mate at least one of the receivers or
else in some other way the interests of
the stockholders should be consulted,
so that the management may not De
wholly redelivered 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 anti
trust law because of the uncertainty
as to how this law affects combina-
tions among laboring men and farm
crs if the combination has any. tend
ency to restrict interstate commerce.
All Of these combinations. if and
while existing for and engaged In the
promotion Of innocent and proper pur-
poses, should be recognized as legal
AS l have repeatedly pointed out. this
antitrust law was a most unwisely
drawn statute. 1t was perhaps newt
able that in feeling after the right
remedy the first attempts TO provide
such should be crude; and il was alb
solutely imperative that some legis-
lation should be passed to control in
the interest OF the public the business
use of the enormous aggregations of
corporate wealth that are so marked
feature of the modern industrial
world. But the present antitrust law.
in its construction and working. has
exemplified only too well the kind Of
legislation which, under the guise of
being thOroughgoing, is drawn up in
such sweeping form as to become
either ineffective or else mischievOus
Combinations Necessary.
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 eff
fective way of meeting actual business
needs. 1t is mischievous and unwhole-
some to keep upon statute books un-
modified law like the antitrust law
which. while In practice only partially
effective against vicious combina tions,
mas nevertheless in theory been con-
strued so as sweepingly to prohibit
every combination for the transaction
OF modern business. Some real good
has resulted from this law But the
time has come when it is imperative to
modify ii. Such modification is urgent
iy needed for the sake of the wage
workers and for the sake of the farm
ers. The congress cannot afford TO
leave it on the statute books in its
present shape.
Probable Results.
1T has now become uncertain how
far this law may involve all labor or
CARNATIONS 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
il may result in the destruction of the
organizations necessary for the trans
action of modern business as well as of
all labor organizations and farmers
organizations. completely check the
wise movement for securing business
cooperation among farmers and put
back half century the progress of the
movement for the betterment of labor
A bill has been presented in the con-
gress to remedy this situa ton. Some
such measure as this bill is needed in
the interest of all engaged in the indus
tries which are essential to the coun-
try's well-being. / do not pretend to
say the exact shape that the bill should
take, and the suggestions l have TO
offer are tentative; and my views
would apply equally TO any other
measure which would achieve the de-
sired end. Bearing this in mind,
would suggest merely tentatively the
following changes in the law:
Changes Suggested.
"The substantive part of the anti
trust law should remain as at present:
that is, every contract in restraint of
nr
states or with foreign nations should
continue to be declared illegal: pro-
vided, however. that some proper gov
ernmental authority (such as the COM
missioner 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 enact
that any contract subject to the prohi-
bitiOn contained in the antitrust law
into which il was desired to enter
might be filed with the bureau of cor
pOratiOns or other appropriate execu-
tive body. This would provide pub
licity. Within, say, sixty days of the
period could be extended
by order of the department whenever
for any reason ii does not give the de-
partment sufficient time for a thor
ough examination-the executive de-
partment having power might forbid
the contract which would then become
subject to the provisions of the anti
trust law if at all in restraint of trade.
Registration Plan.
IF no such prohibition was issued
the contract would then only be liable
to attack on the ground that it con- /
stituted an unreasonable restraint of /
trade. Whenever the period of filing |
had passed without any such prohibit |
ton the contractor combinations could /
be disapproved or forbidden only after |
notice and hearing with a reasona BILE I
provision for summary review on ap- /
peal by the courts. Labor organiza- !
tons, farmers organizations and other /
not organized for pur-
poses of profit should be allowed to |
register under the law by giving the To- /
cation of the head office, charter and |
bylaws and the names and addresses /
81 their principal officers. In the in
terest of all these OBSERVATION-DISCLOSURES
ness, labor and farmers organizations |
alike-the present provision permitting 4