Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-07-29
railway Traffic Agreements Approved
nv commission Should BE Valid.

hallway Ira fife Agreements Approved
Nv Commission Should BE Valid.
# is agreeable to note in this re-
s,,d that the republican platform eX-
,nfssly and the democratic platform
impliedly, approve an amendment to
The interstate commerce law, by which
Interstate railroads may make useful
traffic agreements if approved by the
commission. This has been strongly
recommended by President Roosevelt
and will make for the benefit of the
business.
construction of Antitrust Law-Pos-
sibIe Necessity for Amendment.
The possible operation of the anti
trust law under existing rulings of the
supreme court has given rise to sug-
g%estlons for its necessary amendment
TO prevent its application to cases
which it is believed were never in the
contemplation of the trainers of the
statute. Take two instances: A mer-
chant or manufacturer engaged in q
legitimate business that covers certain
states, wishes to sell his business and
his good will, and so in the terms of
the sale obligates himself to the pur-
chaser not to go into the same BUSH
ness in those states. Such a restraint
of trade has always been enforced at
common law. Again, the employees of
an interstate railway combine and en-
ter upon a peaceable and lawful strike
to secure better wages. At common
law this was not a restraint of trade
or or a violation of the
rights of the company or of the pub
lie. Neither case ought to be made a
violation of the antitrust aw, My
own impression Is that the supreme
court would hold that neither of these
instances are within its inhibition, but
if they are to be so regarded, general
legislation amending the law is neces-
saTy.
Democratic Plank to Limit Corpora
tons to Ownership of so Per cent
of Plant and Product Faculty.
The suggestion of the democratic
platform that trusts be ended by for
bidding corporations to hold more
than 80 per cent of the plant in any
line of manufacture is made without
regard to the possibility of enforce
ment or the real evil in trusts. A cor
poration controlling As or so per cent
of the products may by well known
methods frequently effect monopoly
and stamp out competition i'm a part
of the country as completely as if 1t
controlled so or 20 per cent thereof.
Compulsory sale of Products at Fixed
Price ~Iinpracticai.
The proposal to compel every cor
poration to sell it's commodities at the
same price the country over, allowing
for transportation, is utterly imprac-
ticable. If it can be shown hat in
order to drive out competition. a cor
poration owning a large part of the
plant producing an article is selling in
one part of the country, where 1t has
competitors, at a low and Improbable
price, and in another part of the coun-
try, where it has none, at an exoTbi-
tant price, this is evidence that it is
attempting an unlawful monopoly. and
juStities conviction under the anti
trust law; but the proposal to super
wise the business of corporations in
such a way as to fix the price of COM
modities and compel the sale at such
price is as absurd and socialistic a
plank as was ever inserted in a demo-
cratic platform.
Difference Between Republican and
Democratic Policies and Platforms:
Former Progressive and Regula-
tive; Latter Radical and
Destructive.
The chief difference between the re-
publican and the democratic platforms
is the difference which has heretofore
been seen between the policies Of Mr..
Roosevelt and those which have been
advocated by the democratic candi-
date, Mr.. Bryan. Mr.. Roosevelt's poll
cies have been progressive and regu-
lative; Mr., Bryan's destructive. Mr..
Roosevelt has favored regulation of
the business in which evils have
grown up so as to stamp out the evils
aud permit the business to continue.
The tendency of Mr.. Bryan's proposals
nave generally been destructive of the
business with respect to which he isl
demanding reform. Mr.. Roosevelt
would compel the trusts to conduct
their business in a lawful manner and
secure the benefits of their operation
and the maintenance of the prosperity
49, N'hihA9 VI NillOl lltN are an
important part; while Mr.. Bryan
would eXtirpate and destroy the entire
business in order to stamp out the
evils which they have practiced.
Advantage of Combination of Capital
The combination Of capital i'm large
plants TO manufacture goods with the
gfeatest economy is just as necessary
as inc assembling of the parts of y
machine to the economical and more
rapid manufacture of what I'm old
'lmes was made by hand. The govern
ment should not interfere with one
any more than the other. and when
Nu'h ~aggregations OF capital are legi-
innate and are properly controlled.
'heN are then the natural results
~ modern enterprise and are bene-
"clal to the public. In thc proper
operation of competition the public
WI soon share with the manufacturer
,"' advantage in economy of opera II,
'oh and lower prices.
What l. an Unlawful Trust? Z
when. however. such combinations
u not based on any economic prin- :
P'' out are made merely for the pur-
"i controlling the market. 10 ,
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