The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-01-08

millions OF wage-earners, employees and
associated tradesmen must necessarily
tend to disturb the confidence of the
business community, to dry up the now
flowing sources of capital from its places
of boarding, and produce a halt in oui
present prosperity that will cause sufs
fering and strained circumstances among
the innocent many for the faults OF thu
guilty few.
The question which 1 wish in this mes
sage to bring closely to the considera-
ton and discussion of Congress Is wheth-
err in order to avoid such a possible dan
ger something cannot be done by which
these business combinations may be Of
fered means, without great financial
disturbance, of changing the character
organization and extent of their business
into one within the lines of the law I'M
der federal control and supervision, Sc
curing compliance with the antitrust
statute.
Federal Charters.
Generally in the Industrial combinations
called trusts the principal business is
the sale of goods in many states and
in foreign markets; In other words, the
interstate and foreign business far ex-
coed the business done in any one state.
This fact will Justify the federal gov
eminent in granting q federal charter to
Interstate and foreign commerce the pro-
ducts of useful manufacture under such
limitations as will secure q compliance
with the antitrust law. 1t is possible SO
to frame a statute that while 1t offers
protection to federal company against
harmful. vexatious and unnecessary in
vasion by the states, 1t shall subject it
to reasonable taxation and control by
the states, with respect to it's purely local
business.
Many people conducting great busl-
nesses have cherished hope and be-
lief that In some way or other line,
may be drawn between good trusts
and bad trusts" and that 1t is pos
sibe by amendment to the antitrust
law to make distinction under which
good combinations may be permitted to
organizes, suppress competition, control
prices. and do it all legally If only they
do not abuse the power by taking too
great profit out of the business.
They point with force to certain motor
ious trusts as having grown into power
through criminal methods, by the usa
of Illegal rebates and plain cheating, and
by various acts utterly violative of bus
mess honesty or morality, and urge the
establishment of some legal line of sep
aration by which criminal trusts of
this kind can be punished, and they, on
the other hand, be permitted under the
law to carry on their business.
All Trusts Are Equal.
Now the public, and especially the bus
mess public, ought to rid themselves of
the idea that such distinction is prac-
ticable or can be introduced into the
statute Certainly under the present anti
trust law no such distinction exists.
1t has been proposed. however, that
the word reasonable should be made
- 81. IL
be left to the court to say what Ia a
reasonable restraint of trade. what is a
reasonable suppression of competition,
what is reasonable monopoly. I ven-
ture to think that this Is to put into
, the hands of the court a power inpos-
, sible to exercise on any constituent prin-
ciple which will insure the uniformity
of decision essential to just 5udgmenD
, 1t is to thrust upon the courts burdet
that they have no presidents to enable
them to carry, and to give them a power
approaching the arbitrary. the use of
which might involve our whole judicial
system in disaster.
| In considering violations Of the anti
trust law we ought of course not to for
get that that law makes unlawful meth
DDS of carrying on business which be-
fore its passage were regarded as evil
dence of business sagacity and success,
! and that they were denounced In this act.
not because OF their intrinsic morality,
but because of the dangerous results to-
ward which they tended. the concentra-
ton Of industrial power In the hands
of the few. leading to oppression ana IN
! justice.
Revision Of Methods.
In dealing. therefore. with many Of the
men who have used the methods con-
demned by the statute for the purpose OF
| maintaining profitable business, we may
we'll facilitate a change by them In the
method of doing business and enable
them to bring it back into the zone Of law
fulness without losing to the country the
{, economy of management by which in our
domestic trade the cost Of production has
been materially lessehed, and in compete
/, ton with foreign manufacturers our for
| eign trade has been greatly increased.
| Through all our consideration of this
grave question, however, we must insist
| that the suppression of competition. the
controlling Of prices and the monopoly
! or attempt to monopolize In Interstate
| commerce and business, are not only un-
lawful but contrary to the public good,
! CONTINUED ON PAGE A.