Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-04-28
A STRONG MESSAGE.
Continued from Page one.)

ment for thorough control Of the
business use Of this great wealth is
conservative. We are trying to steer
a safe middle course, which alone can
save US from a plutocratic class gov
eminent on the one hand, or a social
istic class government on the other,
either of which would be fraught with
disaster to our free institutions, State
and National. We are trying to avoid
alike the evils which would flow from
Government ownership Of the public
utilities by which Interstate COM
merce is chiefly carried on. and the
evils which flow from the riot and
chaos of unrestricted individualism.
There Is grave danger to our free in
stitutIons in the corrupting influence
exercised by great wealth suddenly
concentrated in the hands Of the few.
We should In sane manner try 10 rem
edy this danger, in spite Of the sullen
opposition of these few very powerful
men, and with the full purpose to pro-
tect them in all their rights at the
very time that we require them to deal
rightfully with others.
When with steam and electricity
modern business conditions went
through the astounding revolution
which in this country began over half
century ago, there was at first much
hesitation as to what particular
governmental agency should be used
to grapple with the new conditions.
At almost the same time, about twenty
years since, the effort was made 20
control combinations by regulating
them through the Interstate Commerce
Commission, and to abolish them by
means Of the antitrust act; the two
remedies therefore being in part
mutually incompatible. The interstate
commerce law has produced admira-
bic results, especially since it was
strengthened by the Hepburn law two
years ago. The antitrust law, though
1t worked some good, because any,
thing is better than anarchy and COM
plete absence Of regulation, neverthe-
less has proved In many respects not
merely Inadequate but mischievous.
Twenty years ago the misuse of
corporate power had produced almost
every conceivable form Of abuse. and
had worked the gravest injury to bust
ness morality and the public con-
science. For a long time Federal
regulation Of interstate commerce had
been purely negative, the National
judiciary merely acting in isolated
cases to restrain the State from
exercising a power which it was
clearly unconstitutional as well as I'M
wise for them to exercise, but which
nevertheless the National Government
itself failed to exercise. Thus the
corporations monopolizing commerce
made the law for themselves, state
power and common law being in
adequate to accomplish any effective
regulation. and the National power not
yet having been put forth The result
was miscellaneous in the extreme, and
only shortsighted and utter failure to
appreciate the grossness of the evils
to which the lack of regulation gave
rise, can excuse the well-meaning per
sons who now desire to abolish the
antitrust law outright, or to amend it
by simply condemning unreasonable"
combinations.
Power should unquestionably be
lodged somewhere in the Executive
brafcR Of the Government to permit
combinations which will further the
public interest: but it must always be
remembered that, as regards the great
and wealthy combinations through
which, most of the interstate business
of today is done. the burden of proof
should be on them to show that they
have right to exist. No judicial
tribunal has the knowledge or the
experience to determine in the first
place whether a given combination is
advisable or necessary in the interest
Of the public. Some body, whether a
commission or a bureau under the De-
partment of Commerce and Labor,
should be given this power My
personal belief is that ultimately we
shall have to adopt a National in
corporation law, though l am well
aware that this may be impossible at
present. Over the actions of the
Executive body in which the power is
placed the courts should possess
merely a power Of review analogous to
that obtaining in connection with the
work Of the Interstate Commerce
Commission at present To confer
this power would not be a leap in the
dark: it would merely be to carry still
further the theory of effective Govern
mental COntTOl on COTpOTdtloHS WHICH
was responsible for the creation Of the
Interstate Commerce Commission and
for the enlargement of it's powers, and
for the creation of the Bureau of
Corporations. The interstate commerce
legislation has worked admirably. 1t
has benefited the public: 1t has bene-
fitted honestly managed and wisely
conducted railroads; and in spite of
the fact that the business of the
country has enormously increased, the
value Of this Federal legislation has
been shown by the way in which it
has enabled the Federal Government
to correct the most pronounced OF the
great and varied abuses which existed
in the business world twenty years
ago-while the many abuses that still
remain emphasize the need Of further
and more thoroughgoing legislation.
Similarly, the Bureau Of Corporations
has amply justified its creation. In
other words, it is clear that the
principles employed to remedy the
great evils in the business world have
worked well. and they can now be