New-York tribune., 1908-02-23

,nined after fuIl consideration of all pertinent
facts to the end that the requirements Oh I5 nm
partiality and reasonableHess may De comPheo
with while at the same time a fair return 70
the owners of the property may be assu.eu REQ
Nothing should be lacking IN NEUTRALITY-SUSPICIOUS.
powers for the attainment of these objects.
1t is most mischievous to permit known ABUSES
to remain the subject of general agltatloh win
out providing proper methods for the consioera,
ton and redress of specific grievances. Ana
there is more beneficial exercise or power
than to allay distrust by providing administra-
tive means for investigation, for necessary pun
licity and the even, constant and just enforce
ment of. the law.
1t is now recognized that this policy Is I'M
portant to the railroads as well as to the pup,ic nc
In promoting fair dealing it must prove the
security of honorable enterprise
1t is also essential that there should be ell
cient supervision of the issue OF securities 70
avoid the evils Of imitation and of overcapltahza-
ton. The interests of the public and or STOCK
holders must be guarded against the 1mposition
of unjust burdens and corrupt manipulations
There should be every facility for the provision
of bettermentS. for desirable extensions ana I'M
provements The action of government shouid
never be an obstacle in the way of increasing
and perfecttng service. But careful investiga-
tion and deliberate action under laws aimed 10
secure impartiality and open dealing provide
guaranty with which neither the railroads nor
the public can afford to dispense.
other problems presented with reference
to industrial corporations. There are In exist
ence plants which make useful articles of COM
merCe. They employ thousands OF Workmen
We need the commodities. The workmen need
the employment. We wish to see American In
dustry expand. We desire every advantage OF
economic organization; every just opportunity
for the display of talent and inventive skill;
every possible improvement in the processes of
manufacture; everything-in short-Which en-
! hances the opportunities of labor and its fruit
full employment at good wages and which de-
velops and encourages trade.
At the same time desire to put an end to
unfair practices unjustifiable preferences and
oppressive proceedings by which, apart from
proper economic advantages or superior skill in
, industry, rivals are barred from equal oppor-
tunites and thrust out OF the way or destroyed
This country is full of men with q talent for in
dustry. They are entitled TO fair show NO
one can complain If his rival has a larger fac
tory, greater skill in management, more eco
nOmical processes or turns out better wares
But in a free country il is intOlerable that one
should be denied equal access to markets by dis
eliminating rates or allowances, or that he
should be the victim of conspiracy to deprive
him of his business, that he should be crushed
by the misuse of large aggregatiOns OF capital in
unfair competition. Nor should a premium be
given to extortion by permitting the piling up OF
securities which do not fairly represent value
and upon which returns cannot be earned by
fair means.
To meet these objects. and to prevent oppres-
sion and extorton, it is not necessary that busi-
ness should be involved in uncertainty or that
legitimate effort should be handicapped The
enforcement of just laws has no terrors for
legitimate business.
LAWS AS DEFINITE AS POSSIBLE.
But laws state and federal. should be as def
mite as possible and should apply with becoming
precision to the practices sought 10 be reached
1t seven years after the Sherman act was
passed before it determined that 1t applied
to railroads 1t was nine years before it re-
ceived illuminating construction III the Addy
ston case. The courts have been put TO un-
necessary labor in endeavOring to ascertain
what Congress meant. 1t has long been found
nadvisable II attempt q precise definition of
fraud and it is impossible in any statute TO
descsbe to the last degree of gertrude the cases
which should fall within the purview of its
clear intent. But IL is possible and advisable
in dealing with this subject that there should
be a more explicit and appropriate statement
ft11a NOV how in fha ha- ncrs a
fair agreements d to railroad rates which may
receive the approval of the Interstate Commerce
Commission and that associations and agree
mentS for reasonable and obviously proper pur-
poses should not be included in a sweeping con-
demnation that it should point with more
definite aim at the evils which affiIct interstate
commerce and" for which IT is in the power of
Congress to provide a remedy.
The evils in question viii not be eradiCated by
changes in forms of organizations. Il does |
not make very great difference whether those
engaged In improper enterprise keep its pro- |
ceds in pocket or in three. or whether their |
transactions are detailed in one or more sets OF
accounts, The way to get rid of abuses is to |
attack them directly. And / believe the most |
efficacious means is definition and prescription. |
and adequate punishment of offenders.
The justification of a penalty must be found in |
either its punitive it's deterrent effect In their
punitive aspect penalties cannot be justified un-
less their incidence is just In their deterrent |
aspect they cannot be justified unless they make |
unlikely repetition of the offence Fines upon |
corporations, particularly upon large corpora
neitber noint of lev rTbev are asiIIJ trans
ferred TO the public. and to the extent that they
may not be. they are borne by stockholders who |
in large numbers are without knowledge of the |
wrong or power to prevent its commission. They
do satisfactorily act a deterrent because
they involve merely the payment of money, the
loss Of which is widely shared or may readily be
repaired
PROPER PUNISHMENT OF OFFENDERS.
The punishment is most salutary when visited
upon the guilty individuals Few men be
hired to go TO jail. And if offences which public
sentiment recognizes to be of grave character
likely to be obeyed and the punishment to have
Its intended effect
The security Of business depends upon Just
and definite laws and their impartial enforce
ment 1t depends upon the possibility of pro-
vision and of reasonable degree of certainty
In the operations of trade. The business men of
the country in large ajority desire fair deal
honorable business conduct. And in every just
pndeavor to obtain these ends we may be as
s,lred that we shall have their cooperation
We cannot this day afford ignore the
which must be the handspring of
every effort of democracy.
We do not exist for the sake of national power |
or to confer upon a favored few the blessings of
fortune. Paltry would be our success If we
could simply rival in national greatness the des-
potsms of the past could prove only by the
prosperity of q few the benefits of u free gov
ernment. We exist that there may be the wild
est possible diffusion Of opportunity and pros
oerity. In legislation and administration
Xe must favor no class. but protect the interests
" all citizens. While the nation may de
vote its powers to this end so far matters are
within federal control, our state governments