The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1908-03-26

determines to place common carrier
or other public utility concern under
the control Of a receiYership. the at
torney general should have tho right
to nominate at least one of the re-
ceiyers; or else in some other way the
interests OF the stockholders should
be consulted so that the management
may not be wholly redelivered to the
man cr men the failure Of whose pol
icy may have necessitated the crea-
tlon Of tho recelvership. Receiver
ships should be used, not to operate
roads, but as speedily as possible to
pay their debts and return them to the
proper owners.
Laborere and Farmers.
In addition to the reasons have al
ready urged on your attention, it has
nov become important that there
should be an amendment Of the ami.
trust law, because of the uncertainty
as to how this law affects combina-
tiGns among labor men and farmers,
ii the combination has any tendency
To restrict interstate commerce. All
of these combinations, if and while
! existing for and engaged in the promo
tti-n of innocent and proper purposes,
! should be recognized as legal AS
have repeatedly pointed out, this anti
trust law was most unWisely draWa
statute. 1t was perhaps inevitable
hat tn of ,;fl
the first Attempts IT, provide such |
should be crude; and it was absolutely |
imperative that somo legislation |
should be passed to control, in the in |
terest Of the public, the business use
.of the enormous aggregatiCns of cor
porate wealth that are so marked a
feature OF the modern Industrial world
But the present antitrust law, in its
construction and working, has exem.
pllied only too well the kind of legis.
lation which, under the guise of being
thoroughg ing, isdrawn up in such
sweeping form as to become either in,
effective or else mischievous.
Must Change Sherman Law
In the modern industrial world com
binations arc absolutely necessary,
among business men, they arc neces-
sary among laboring men, they are
becoming more and more necessary
among farmers. Some of these combl
nations are among the most powerful
OF all instruments for wrongdoing.
Others offer the only effective way OF h
meeting actual business needs. 1t is
and unwholesome to keen
upon the statute books unmodified a
law. like. the antitrust law, which, I
while in practice only partially effec. !
tive against vicious combinations, has {
nevertheless in theory been construed
so as sweepingly to prohibit every )
combination for the transaction of
modern business. Some real good has
resulted fro mthis law. But the time 1
has come when it is imperative to
modify it. Such modification Is ur. ,
gently 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 congress :
,on net afford to leave it on the
statute books in its present shape.
1t has now become uncertain how
ar this law may involve all labor or
,anizations and farmers organizations o
Is we'll as all business organizations, {
n conflict with the law or, if we Sc. D
'ure literal compliance with the law. In
low far it may result in the destruc. Iti
ion of the organizations necessary D
or the transaction of modern bust. fl
Tess, as well as of all labor organiza.
ions and farmers organizations. com. t
1letey check the wise movement for q
occurring business cooperation among C
armers, and put back half cen, II
ury the progress of the movement for Il
he betterment of labor. A bill has lp
'een presented in the congress to rem. &
dy this situation. Some such meas. &
ire as this bill is needed in the inter fl
st of all engaged in the Industries c
which are essential to the contry's
1ell-being do not pretend to say 4
h' 'AdtL SHdbt lHdL bl1t Dill SnOulu
AXE and the suggestions | have to
Her are tentative; and my views
would apply equally to any other
measure which would achieve the desr
d end.
Amendments Suggested.
Bearing this in mind. | would sug
est, merely tentatively. the following n
hanges in the law:
The substantive part of the anti. u
rust law should remain as at pres
mt; that Is, every contract in restraint ~
1 trade or commerce among the sew
raj states or with foreign nations II
hould continue TO be declared Illegal:
royided however that some proper
Governmental authority (such as the
commissioner of corporations acting
0FOuclud on Cit-th lDi