The Montgomery advertiser., 1909-06-07
A Few Good Points of a
 National Incorporation LasO

the people through government-the right of condemnation, for instance. But the tendency is steadily toward putting the argument for such super vision and control on a broader basis than this--on the broad general grounds that any kind of business. the conduct Of which directly and vi- tally affects large numbers of people, and for long periods of time. should be conducted with regard to the welfare of all the people. On this basis the lumber business might well be brought within the scope of those industries to be supervised, particularly the yell low pine lumber business, since most of yellow pine timber grows on soil that for generations will find its max imum remunerativeness in producing q timber growth.
 No national incorporation law could. of course, be framed with reference to any particular industry. It would have to embrace all lines. The recip- rocal advantages Or easements. how ever, might be worked out with di- rect reference to the needs and cir- cumstances of each business, and the necessary measure of protection for the people against abuse. The lum- Der business naturally comes upper most in mind in considering such suggestion, partly because of the dire conditions that now confront the men engaged in that business. and because the Federal government through its Forest Service Is more intimately in- formed of the true conditions of that business, and the problems 1t presents to the private owners of the supply of raw material upon which 1t is based, than any other. The Forest Service knows that 1t is the very fact of the very limited supply of this raw material. and the recognition of the impossibility of its replenishment, that has boomed up the price of stumpage under competitor to acquire it in private ownership, while the con- ditions under which 1t has been &C., quired, and under which 1t Is now held, an incessant increase of taxes, not to mention others,N steadily and imperatively impels toward its con- version, regardless of everything be- yond immediate consequences, with an attendant loss and waste that must be borne by somebody at some time.
 The Forest Service knows that the interests of all the people in this country would be subserved by limit ing lumber production to what the country will absorb from year to year at prices fairly remunerRtive, based on the established prices of stumpage. This would still be true even if abnor- n6lly IOW PElCCS btiAAALGbC COuDAAAV~ tion to some extent, and result in some houses being built that would otherwise not be built. thereby SCOT ing some gain in the social status and happiness of the people. But this is not true to any extent. Utilization is not stimulated by abnormally low prices to an extent that will begin to offset the waste caused by the manu- facturer in sacrificing large part of La. tArl al in ohpn vt fa hio mill on a product which he can dis pose of without an immediate loss that will put him out of business.
 Yet despite all this the only way ef- fective curtailment might be accom- plished, through concert of action by the manufacturers, Is prohibited by the law, and therefore impossible. Cur tailment on individual initiative is also impossible to more than a very slight degree and for brief period. The present acute crisis will pass, but similar crises will recur again an1 again and result in incalculable and irreparable loss.
 The only hope of permanent remedy seems to lie in some modification of the antitrust laws. A national incor- poration act, such as we discussed. might possibly open the way It is more than twenty-five years since
 
 country. For nearly twenty years the Sherman antitrust law has been on the statute books. It has been discussed without end and amended several times. It is doubtful, if in e single instance, it has afforded any genuine protection to the people. It Is generally admitted now to stand in the way of some arrangements and agreements that are a necessity of modern business. It was framed un- der conditions in many lines of busi- ness very different from those that now prevail. About the net result of all the discussion we have had Is to bring about fairly general recogni- ton that there are combinations and combinations, some that are hurtful and ought to be prohibited, while oth> CTS are necessary. and should not only be permitted, but encouraged. This is not a great end to have arrived at, but 1t is something.
 It is up to us now to see if we can give shape to this recognition in some plan that will create a modus vivendi for at least one of our great and im- portant industries.