The Detroit times., 1908-07-29

The operation OF railways.
There should be a classification OF
thal very small percentage OF indus
trial corporations having power and
opportunity To effect illegal restraints
or trade and monopolies. and legisla-
,ion either inducing or compelling them
To proper publicity regulations and SUI
pervision of the department OF com
merce and labor.
ReorEasise Bureaus.
The field covered by the Industrial
combinations and By the railroads Is
80 very extensive that the interests OF
the public and the interests OF The
businesses concerned cannot be prop
erly subserved except by reorganlzatio
OF bureaus in the department or COM
Merce and labor, OF agriculture, and
the department OF justice. and change
la the Jurisdiction OF the Interstate
commerce commission. IL does not as
sist matters TO prescribe new duties
FOR the Interstate commerce commission
which II is practically impossible for
IL TO perform. or TO denounce new Of
lenses with drastic punishment. unless
subordinate and ancillary legislation
shall be passed making possible the
quick enforcement in the great variety
OF cases which are constantly arising.
OF the principles laid down by Mr..
Roosevelt. and with respect to which
only typical instances OF prosecution
with the present machinery are pos-
sible. Such legislation should and
would greatly promote legitimate bus
mess by enabling those anxious TO obey
the federal statutes to know just what
are the bounds OF their lawful action.
The practical constructive and difncuit
work, therefore. of those who follow
and means by which the high level OF
business integrity and obedience TO
law which he has established may DC
maintained and departures from II re-
| strained without undue interference
with legitimate business.
Railway TrNnhc Agreements.
1t In agreeable to note In this regard
| that the Republican platform expressly
| and the Democratic platform impiiedly
approve an amendment to the inter-
state commerce law. by when inter
| state railroads may make useful traInc
agreements IL approved by the commits
sion. This has been strongly recon,
mended by President Roosevsit ana
will make for the benefit OF the bus'-
| ness.
ocratic platform relate really 10 TINS
subordinate and ancillary machinery TO
which have referred. Take TOT IN
tion OF I railways. It e clear that the
sum OF all rates or receipts OF
way. less proper expenses. sn1uiu
limited to fair pront upon and that
ought to be reduced. The difhculty IA
enforcing the principle ts In asse re ~ a
companys property, and In nxins WIZ .
is fair profit. 1t Is clear thar t.e
physical value OF railroad anu
pIant Ia an element to be given weisn ~
in determining it's full value; put as
president Roosevelt In his lndianapoins
speech and the supreme court nv ,ha
effect pointed out. the nrru ,nclud, ne
10 good will due to efficiency OF s.r
vice and many other circu'hs'a,,ma,n .
may be much greater than ana ~ e. is the
OF it's tangible property ana ~ ,,ren,
former that measures the inVextnnen,'
on which a fair profit must ne aiioweu.
Then. too, the question wha' , IL ~ .
nroNt Is one involving not ON, 'nu
rate Of interest usually earheo ' u
Normally safe investments put ais" ~
sufficient allowance TO max up In !.
the risk Of loss not ant ~ These con
stdera,ions will have tustined the co.It-
nany I'm imposing charges high enouxl
t, secure a fair income e o Securities at
pmarEet prices will have passed nv" ,
Tho hands Of subsequent putcn ,' IT,
from the original investor,s orect the
setis,nn ~ the tribunal engaged IN .e.
termining whether the total,ty q. '"'''
charged is reasonable or excess ,reat
The question o. +, rat one al" that mas two
.,das The shippers are certnina g.
,ttind to reasonable rates: hnt s,,s,'
an injustice to the csrr,e,us essential "a
| ansraJ prosperity. Injustice 20 ~
:. not alone injustice TO stockno,us,
ana capitalists. whose lurIne, he good
ments ,,,hn,e country. but II directly q, :
-. and reduces the wages O, -
wav employees. and indeed may oep'''
them of their places en. sa,d the proper
,onciusiou would seem to be that IN ~
tempting to determine wnetheI III =
tire schedule OF rates OF .,an ~ Tho
re,ayunt and imDortant nut
1T nece.snrtly controlling tar'vi
The concensus Of opinion seen,. 20
that railroad rates In THIS coo"'''
Cnn.roI Of inter~tnte Com. Corpornoon'
Xnother suggestion In respect 70 SUI
bordinate and ancillary sar noii,
nscesaarv TO carry out Republican POI
n,ss 10 that of the incorporation unosr
nst,onai law or the licensing ny ne
tionai license or enforced reEis'. AZ
companies engaged In cornora
.tnn. dotng n commercial business ar.
en- gagged In Interstate cofntneI,o, 80 n
they ali were required 10 TAX o" t,o
federal License sh or interstate business of
the country would become intoierapi..
III Ia necessary. therefore. 10 nevise
some means for classifying anu rnopa J.
ing federal supervision or snch co,po,"
tions as have the power and temp'a.,SSm y
IN effect restraints Of Interstate .ran.
and monopolies. such corpvra a ~
constitute 2 =, ver ,yy,srst u business.
NJ. Rco.cyeit's Proposed Classihcstion'
with such classification In view. Nj !
RooseveIt recommended an amendmehl
10 the antitrust law. known as ,ne
Uepburn bill, which provided Tor volun :
tarv ciassification. and created strong
motive therefor by granting IMMUNITY
from prosecution for reasonao,e re-
straints OF Interstate trace 70 snd
norations which would register anu
submit themselves to the publicity reg
ulations of the department. OF COM
merce and labor.
Antitrust Law.
The. possible operation OF ,ne os The
supreme court has given rise TO sus
gestions for Its necessary amehoI,len u.
10 prevent it's application 10 cases
which IL Is believed Were never IN we
contamination OF the trainers or the
statute. Take for instance; mercnan,
or manufacturer engaged III ies..,,a.s
business that covers cer,al" eonJ
wishes to sell his business ana his go9d
| will. and 60 In the terms OF the salr
oblIgates himself to the purchaser not
| 10 70 into the same business In thoSe
| states. Such a restraint or trade mas
| always been enforced at common law.
Again. the employees OF an Interstate
railway combine and enter upon
| peaceabIe and lawful strike TO secure
better wages Al common law TINS was
not a restraint OF trade or commetC"
or a violation OF the rights OF the com
pany or OF the public. Neither case
ought to he made violation OF the
antitrust law NV own impression IL
| that the supreme court would hold INA,
neither OF these instances are withln
i,s inhibition but. IL they are TO be 30
regarded, general legislation amending
the law Is necessary
Democratic Plank Faulty.
The suggestion OF the Democratl>
| platform that trusts be ended by TOT :
| bidding corporations To hold more than
90 ner cent OF the plant In any line OF