The Honesdale citizen. [volume] (Honesdale, Pa.) 1873-1908, 1908-08-06


settling certain issues which may come
before them. and that no evil or injug-
tice can come from valuation IN such
cases. II It be understood that the re-.
suit is to be used for a just purpose.
and the right TO a fair profit under all
the circumstances Of the investment is
recognized.
National Control Of interstate COM
nneroe Corporation.
Another suggestion in respect to sub
ordinate and aDclllary machinery nee
essary to carry out Republican policies
ts that Of the incorporation under Ma
t1onal law or the licensing by National
license or enforced registry Of cumpa-
nies engaged In interstate trade. The
fact is that nearly all corporations DO
ing a commercial business are engaged
in interstate commerce. and II they nll
were required to take out Federal
license or Federal charter the bur
den upon the Interstate business Of the
country would become intolerable.
1t is necessary. therefore, to devise
some means for classifying and insur-
ing Federal supervision Of such cor
porations as have the power and temp
tation to effect restraints Of interstate
trade and monopolies. Such corpora-
tions constitute a very small percent
age Of all engaged in interstate busi-
meas.
censtruotion Of Antitrust Law.
The possible operation OF the anti
trust law under existing rulings OF the
Supreme Court has given rise TO sug-
geetions for its necessary amendment
20 prevent its application to cases
which II is believed were never In the
contemplation Of the frumers OF the
statute. luke two instances A mer-
chant or manufacturer engaged In a
Legitimate business that covers certain
States. wishes To sell his business and
bis good VIII, and 30 In the terms OF
the sale obligates himself to the pur-
chaser not to go into the same bust
ness In those States. Such restraint
Of trade has always been enforced at
common law. Again. the employees OF
an Interstate railway combine and en-
ter upon peaceable and lawful strike
to secure better wages At common
law this was not a restraint OF trude
or commerce or a violation Of the
rights of the company or OF the public.
Neither case ought TO be made n viola
ton OF the antitrust law. Ny own
impression is that the Supreme Court
would hold that neither OF these In
stances is within its inhibition but, II
they IRE to be so regarded. general leg
talation amending the law Ia necessary
The proposal to compel every cor
poration TO sell its commodities at the
same price the country over, allowing
for transportation, is utterly imprac-
ticable. II II can be shown that In Or
der TO drive out competition. corpo-
ration owning large part of the plant
producing an article is selling in one
part Of the country, where It has COM
petitors, at a low and Improbable
price, and in another part OF the coun-
try. where 1t has none. at an exorbi-
tant price. this is evidence that It is at
tempting an unlawful monopoly, and
Justifies conviction under the antitrust
law; but the proposal to supervise the
business Of corporations in such u way
as to fix the price Of commodities and
compel the sale at such price is us alb
surd and socialistic a plank as was
ever inserted in a Democratic political
platform.
Advantage Of Combination of Capital
The combination Of capital in large
plants to manufacture goods with the
greatest economy is just as necessary
as the assembling Of the parts Of a
10 fha ina1 Nd
rapid manufacture Of what In old
times was made by hand. The Gov
ernment should not interfere with one
any more than the other.
Whist 10 an Unlawful Trust7
When, however, such combinations
are not based on any economic prin-
ciple, but are made merely for the pur-
pose OF controlling the market. to
maintain or raise prices. restrict output
and drive out competitors. the public
derives no benefit and We have a mo
nopoly. II is important, therefore,
that such large aGgregations OF cap
ital and combination should be CON
trolled 30 that the public may have
the advantage of reasonable prices
and that the avenues OF enterprise
may he kept open to the individual and
the smaller corporation wishing to en-
gage In business.
Many enterprises have been organ
lied on the theory that mere agGreea-
tion Of all, or nearly all. existing plants
In line Of manufacture. without re-
gard to economy Of production de
stroys competition. They have, most
Of them. gone into bankruptcy. Com
petition IN d profitable business will
not be affected by the mere uggrega-
tion OF many existing plants under one
company, unless the company thereby
effects great economy, the benefit Of
which It shares with the public, "~
takes some illegal method TO avoid
competition and to perpetuate hold
on the business.
Proper Treatment Of Trusts.
Unlawful trusts should be restrained
with all the efficiency of lnjuuctive
process, anu the persons engaged In
maintaining them should he punished
with all the severity Of criminal pros
ecution, In order that the methods pur-
sued In the operation Of their business
shall be brought within the law. To
destroy them and to eliminate the
wealth they represent from the pro
ducing capital Of the country would
entail enormous loss and would throw
out Of employment nyriads Of work
ingmen and wOrkingwomen. Such u
result IL wholly unnecessary TO the nc
complishment OF the needed reform,
and Will infiict upon the innocent far
greater punishment than upon the
guilty.
Destructive Policy Of Democratic Plat
form.
The Democratic platform does not
propose to destroy the plants Of the
trusts physically. but It proposes TO
do the same thing in different way.
The business Of this country is large
ly dependent ON protective systeII OF
tariffs. The business done by many
Of the 30 called trusts" is protected
with the other business Of the country,
The Democratic platform proposes to
take Un the tariff IN all articles com
ing into competition with those pro
duced by the 50 called trusts" aud
to put them on the free list. II such
course would he utterly destructive
OF their business as is intended, il
would not only destroy the trusts, but
all Of their smaller competitors The
ruthless and imuracticahle character