The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1908-05-02

bic results. especially since II was
strengthened by the Hepburn law twvl
years ago. The antitrust law. though
II worked some good because anything
is better than anarchy and complete
absence OF regulation, nevertheless has
proved In many respects not merely
inadequate but mlschievous.
Twenty years ago the misuse o.
corporate power had produced almost
every conceivable form Of abuse. and
had worked the gravest injury 10 bush
ness morality and the public con-
science. For q long time federal reg.
ulatlon OF interstate commerce hal
been purely negative. the national
judiciary merely acting 10 isolated
cases 20 restrain the states from ex.
ert.ng power which II was clear un-
constitutional as well as unwise fof
them to exercise. but which neyerthe-
less the national government Itself
failed 70 exercise.
Thus the corporations monopolizins
commerce made the law for them
selves. state power and common law
being inadequate 10 accomplish nny
effective regulation ana the natl nal
power not yet having been put f0ita.
Tie result, WAS mischievous tie eX-
IRENE md only shortsighted and NJ
Ter failure 10 appreciate tie grCssness
g. The cri's 10 wl.ch 'llc lack OF regu-
laii0u gave risc can excuse the well
meaning PERSONS who now desire I'll
abolish The antitrust law outright or
TO amend Il 10y simply conforming
unreasonable combinations
Power sh0pli unquostionnhly bs
lodged somewhere IN the executive
branch az the government 20 permit
combinations which viii further thel
public Interests but II mus, always
be remembered that as regards The
great ana wealthy com nations
through which most ~ the Interstate
business 81 today IS done the burden
OF proof should be on them 10 show
that they have right 10 exist NJ
judicial tribunal has the knDwlelge Or
tho experience 10 determine in the
first place whether a given combinu-
tlon Is advisable or necessary in the
interest or the public. Some body.
whether a commission. or n bureau IN.
der the department OF commerce and
labor should be given this power.
My personal belief Is that Ultimate
" we shan huyc % adopt a nationll
incorporation law though am wen
aware that this may Doe Impossible atl
present over the actions OF Tho
executive body IN which the power X
placed the courts should possess mere
~ power OF review analogous 10
that obtaining in connection with tho
work o. the Interstate commerce conn
mission M present To confer mi i
power would not he a leap Ia he dark
II would merely be 10 carry sul rur
thcr the theory II effective govern
mental control Of corporations which
was responsible Tor the creation -
the Interstate commerce commission
and FOR the enlargement OF us powers
and for the creation Of tho bureau 81
corporations.
The Interstate commerce legislation
has worked admirably " has bene.
fitted the public: e has benefited hon.
estly.manugcl ana wis lv.conducte I
railroads. AMI III spite 81 The fact tia
the bnsincss 90 The country has enoi.
monsly increased the value OF Ills fed.
cral legislation has been shown BE-
the way IN which, Il has enabled the
federal government Co correct tho
most pronounced Of the great AMI
varied abuses which existed In thn
business world twenty years ago
while the maHy abuses that stlll re-
main emphasize the need Of further
and more thoroughgong legislation
Similarly tho bureau al corporations
has amply justified its erection.
In other words. II II clear that the
principles employed TO remedy the
great evils IN the business wo ID lavc
worked well. and they can now be m.
ployed 70 correct the evils that further
commercial growth has brought NOR,
prominently 10 the surface The pow
ers and scoops OF the interstate com.
lnercc commission. ana OF any similar
body such 0s the bureau ~ corpora.
which has to deal with the nat.
ter IN hand should be greatly cularg i
SO as 20 meet the requirements % the
present DAY.
DUAL CONTROL IMPOSSIBLE