Evening journal., 1908-03-25
SENDS
SPECIAL MESSAGE
scOntlnusd From First Parsl

CcOntinusd From First Paxs)
trust law was a 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 It was absolutely imperative
that some legislation should be passed to
control. in the interest Of the public, the
business use Of the enormous aggregations
Of corporate wealth that are so marked
a feature OF the modern Industrial world.
But the present antitrust law. in its
construction ara working, has exempli-
fed only too well the kind Of legislation
which, under the guise Of being thorough
going, Is drawn up in such sweeping form
as 70 become either ineffective or else
mischievous.
In the modern industrial world combina-
tions are absolutely necessary; they are
necessary among business men, they are
necessary among laboring men. they are
becoming more and more necessary among
farmers. Some Of these combinations are
among the most powerful OF all instru-
ments for wrongdoing. Others Offer t-~
only effective way Of meeting actuai our-
wholesome 70 keep upon the statute books
unmodihed a law, like the antitrust law,
which, while in practice only partially
effective against vicious combinations,
has nevertheless in theory been construed
so as sweepingly TO prohibit every COM
bination for the transaction Of modern
business. Some real good has resulted
from this law. But the time has come
when It is imperative to modify it. Such
modification Is urgently needed for the
sake OF the business men of the country.
for the sake Of the wage workers, and
for the sake Of the farmers. The Con-
gress cannot afford to leave it on the
statute books In its present shape.
It has now become uncertain how far
this law may involve all labor organiza
lions, and farmers organizations, as wei
as all business organizations, In conflict
with the law; or, II we secure literal COM
pliance with the law, how far it may re-
suit in the destruction Of the organiza,
tons necessary for the transaction OF
modern business. as well as of all labor
organizations and farmers organizations,
completely check the wise movement for
securing business cooperation among
progress Of the movement for the better
ment OF labor A bill has been presented
in the Congress to remedy this situation.
Some such measure as this bill is needed
In the interest of all engaged in the in
dustries which are essential to the coun-
try's well-being do not pretend to say
the exact shape that the bill should take,
and the suggestions I 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, would suggest, merely tentatively.
the following changes in the law:
The substantive part of the antitrust
law should remain as at present; that Is,
every contract in restraint of trade or
commerce among the several States or
with foreign nations should continue to
be declared illegal, provided. however that
some proper governmental authority
(such as the Commissioner Of Corpora
tons acting under the Secretary of Com
merce and Labor be allowed to pass on
any such contracts. Probably the best
method OF providing for this would be to
enact that any contract, subject to the
prohibition contained in the antitrust law,
into which It was desired to enter, might
be filed with the Bureau of Corporations
or other appropriate executive body. This
would provide publicity. within, say, sixty
days OF the hling-which period could be
extended by order Of Department wnen-
ever for any reason It did not give me
Department sufficient time for a thorough
examination-the executive department
having power might forbid the contract.
rya
provisions Of the antitrust law, II at all
In restraint Of trade.
II no such prohibition was issued, the
contract would then only be liable to
attack on the ground that It consti-
tuted an unreasonable restraint OF
trade. Whenever the period Of filing
had passed without any such prohibi-
ton, the contracts or combinations
could be disapproved or forbidden only
after notice and hearing with a reason
able provision for summary review On
appeal by courts. Labor organizations,
farmers organizations. and other or
ganlzations not organized for purposes
of profit. should be allowed TO register
under the law by giving the location
Of the head Office. the charter and by
AoNo cAtAA AAehANo anu uACc1NE u their
principal officers. In the interest Of
all these organizations---bu business, labor
and farmers organizations alike-the
present provision permitting the re-
covery of threefold damages should be
abolished. and az a substitute therefor
the right Of recovery allowed for should
be only the damages sustained by the
plaintiff and the cost of suit, includ-
ing a reasonable attorneys fee.
The law should not affect pending
suits; q short statute of limitations
should be provided, so tar as the past
is concerned, not to exceed a year.
Moreover, and even more in the in
terest of labor than of business COM
binations, all such suits brought for
causes of action heretofore occurred
should be brought only If the contract
or combination complained of was un-
fair or unreasonable. II may be well
to remember that all of the suits
hitherto brought by the Government
under the antitrust law have been In
cases where the combination or con-
tract was in fact unfair. unreasonable,
and against the public interest.
It is important that we should en-
courage trade agreements between em-
ployer and employe where they ara