The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-03-26
URGES CONGRESS
TO ACT AT ONCE
CONTINUED From FIrst Page)

the antitrust law hIoiib tiJc iiliN'
Indicated in my LIST message. inc
Interstate commerce law should DO
amended so as to give railroads
the right 10 make traffic agree
ments. subject to these agreements
being approved by the Interstate
Commerce Commission and publish
ed in all OF their details. The
commission should also be given
the power 20 make public and to
pass upon the issuance of all Sc
curlties hereafter issued by rail-
ronds doing an interstate commerce
business.
a law should be passed providing
in effect tliat when n Federal court
determines 10 place a common car
rIer or other public utility concern
undor the control Of receiver
ship, the Attorney General should
have the right to nominate at least
ono of the receivers. or else in
some other way tile interests of the
stockholders should be consulted,
so that the management may not
be wholly redolivcrcd to the man
or men the failure of whose policy
may have necessitated the creation
of the receivership. Reccivcrshipa
should he used, not. TO operate
roads, but as speedily as possible
TO pay their debts and return them
to the proper owners
Amend Antitrust Laws.
I'm addition to the reasons /
have already urged on your atten-
ton, it has now become important
that there should be an amendment
OF the antitrust law. because of
the uncertainty as to how this law
affects combinations among labor
men and farmers, II the combine
ton has any tendency to restrict
Interstate commerce. All Of these
combinations, IL and while exist
ing for and engaged In the pro-
motion Of innocent and proper pur-
poses, should be recognized as
legal. AS 1 have repeatedly point
cd out this antitrust law was q
most unwisely drawn statute. 1t
was perhaps inevitable that in
feeling after the right remedy the
first attempts to provide such
should be crude: and 1t was abb
rolu,ely imperative that some leg
islation should be passed to con
troll, In the interest of the public.
the business use Of the enormous
aggregations of corporate wealth
llldI al 50 lIltIhfN a lsblAlf VI
the modern Industrial world. But
the present antitrust law. In its
construction and working, has ex-
emplitied only too well the kind
of legislation which under the
gulse of being throughgoing, IS
drawn up in such sweeping form
as TO become either Ineffective or
else mischievous.
In the modern Industrial world
combinations are absolutely nee
essary; they are necessary among
business men. they are necessary
among laboring men. they arc
becoming moro and more nee
essarv amony farmers. Some of
these combinations are among the
most powerful of all instruments
for wrou gdoing. others offer the
only effective way of meeting ac-
tual business needs. 1T is mis-
chievous and unwholesomc 10 keep
upon the statute books unmodihed
law, like the antitrust law,
which, while in practice only par
tally effective against vicious COM
binations. has nevertheless in
theory heen construed so as
sweepip9ly to prohibit every
combination for the transaction of
lllDitIil slIuSlutsS. sSOllIt real EOOu
has resulted from this law. But
the time has come when it is i'm
perative to modify II. Such modl-
fication IS urgently needed for the
sake of business men of. the coun-
try, for the sake of the wage
workers. and for the sake of the
farmers. The Congress cannot
afford 20 leave 1t on the statute
books In its present shape.
The Dil for Labor.
IT mas now become uncertain
how far this law may involve all
labor organizations and farmers
organizations, as well as all bust
ness organizations, in conflict with
the law: or, IL we secure literal
compliance with the law, how far
1t may result in the destruction
of the organizations necessary for
the transaction of modern bust
ness, as well as Of all labor or
CARNATIONS and farmers organi-
cations, completely check the wise
movement for securing business
cooperation among farmers, and
put back half a century the prog
ress of the movement for the bet
terment OF labor.
bill has been presented in the
Congress to remedy this situation.
Some such measure as this bill is
needed in the interest of all en-
gagged in the industries which are
essential ITO the country'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
desired end. Bearing this in mind
I would suggest merely tenta-
lively, the following changes in
the law:
The substantive part of the anti.
trust law should remain as al
present; that is, every contract ir
restraint >of trade or commerce
among the several States or witt
foreign nations should continue t.
be declared Illegal; provided, how
ever, that some proper govern
mental authority (such as tn,
Commissioner of Corporations act
ing under the Secretary of Com
merce and Labor be allowed t
pass on any such contracts. Proba
bly, the best method of providin,
for this would be to enact tina
any contract, subject to the pro
hlbition contained in the antitrus
law, into which it was desired t
enter, might be filed with the Ru
reau of Corporations or other ap
propriate executive body Thi
would provide publicity. Withir