The Julesburg grit-advocate., 1910-01-14

such corporations TO file fun and go,
plete reports OF their operations with tho
department of commerce and labor at
regular intervals. Corporations organized
under this act should be prohibited from
acquiring and holding stock In other cor
poratiOns Except for special reasons upon
approval by the proper federal author
tty). thus avoiding the creation. under
national auspices. Of the holding COM
pany with subordinate corporations II
different states which has been such an
effective agency In the creation Of the
great trusts and monopolies.
II the prohibition OF the antitrust act
against combinations in restraint q
trade 10 to be effectively enforced. II 10
essential that the national government
shall provide for the creation OF national
corporations to carry on legitimate
business throughout the United States.
The CONFLICTING laws Of the different
states Of the union with respect TO fes-
eiGn corporations make II diflicult. II noS
impossible. for one corporation to comply
with their requirements 10 A. to carry
on business In . number OF dinsrsns
states.
To the suggestion that this proposal q
federal Incorporation for industrial con"
binations 10 intended to furnish them
refuge in which to continue industaa!
business under federal protection. IL
should BE- said that the measure contso-
plated does not repeal the Sherman anti
trust Law and 10 not to be framed % -
to permit the doing Of the wrongs vnice
II 10 the purpose Of that law to prsveat.
but only to foster . continuance and -
vance Of the highest Industrial efhcieaey
without permitting industrial abuses.
Sure to Meet oppssitIen.
Such . national incorporation law wM
hrs hos h&V0v0
that trusts should BE- completely brokca
up and their property destroyed. IL VIZ
b opposed. second. by those who oouos
the constitutionality OF such federai u.
corporation and even II II 10 valid, oo3ses
to il a. too great federal centraiiIatoa.
II viii be opposed, third. by those Whe
will insist that . mere voluntary ineoe'
nora tiop like this will not attract to ito
assistance the worst OF the onehoeto
against the antitrust statute ana Wne
will therefore propose instead OF
TEN Of compulsory licenses for all tse.
eraI CORPORATIONS engaged in Interstate
business.
Let us consider these objections In thses
order, The government 10 now trying V
dissolve some OF these combinations 49,
1t 10 not the intention Of the Eovernmsas
70 desdst In the least degree In Its efoss
to end these combinations which are -
day monopolising the commerce OF tins
| country; that where II appears that IN
acquisition and concentration OF properly
70 to the extent Of creating monopoU
Of subst antially and directly restrainino
| interstate commerce. II u not the intso.
ton of the government to permit this
monopoly to exist under federal incos.
poration or to transfer to the protecting
wing of the federal government OF
state corporation now violating the shse-
man act. But II 10 not. and should nss
be. the policy Of the government to pre-.
nj ira
which IL necessary to the economic dsvss.
opment of manufacture. trade and con.
msrce. This country has shown powes
Of economic production that has aston-
ishsd tho world. and has enabled us 70
compete With foreign manufacturers 10
many markets. 1t should be the care 81
the government to permit such concen-
tration Of capital while keeping open the
avenues OF individual enterprise. and the
opportunity for q man or corporation
with reasonable capital to engage II
business. II We would maintain oue
present business supremacy. we should
give to Industrial concerns an oppor-
tunity to organize or to concentrate thsis
legitimate capital in . federal corpora
ton. and to carry on their large business
within the lines Of the law.
May Doubt constitutlonaiity.
| second-rhere are those who doub. ths
| constitutionality Of such federal incorpor.
| alton. Tho regulation of Interstate anA
| foreign commerce II certainly conferred
| in the fullest measure upon congress. and
| II for the purpose of securing in the most
thorough manner that kind Of regulation,
congress shall insist that It may provids
and authorize agencies to carry on that
commerce, It would seem to be within IL
power. this has been distinctly anirms>
with respect to railroad companies doina
an interstate business and interstate
- ThA nP hAa
besn exercised by congress and uphsi1
by the supreme court in this regard
Why. then. with respect to any otheG
form Of interstate commerce like the SALE
of goods across state boundaries and tnss
foreign countries. may tho same powss
fact that they carry on Interstate com.
merce that makes these great Industrial
concerns subject to federal prosecution
and control. How far as incidental to
the carrying on Of that commerce II may
be within the power Of the federal gov.
ernment to authorize the manufacturer Of
goods, II perhaps more open to discus
sion. though q gecent decision Of the su-
preme court would seem to answer that
question in the Affirmative
Even those who are willing to concsds
that the supreme court may sustain such
federal Incorporation are Inclined to op-
pose 1t on the ground Of It's tendency t.
the enlargement of the federal power Al
the expense OF the power Of tho state.
II IL a sumcient answer to this argument
to say that no other method can be suR-
gested which Offers federal protection on
the one hand and close federal supervf-
sion on the other of these great organi-
cations that are in fact federal becaupa
they wide as the country and ars
entirely unlimited In their business BIZ
state lines. Nor IL the Capitalization Of
federal power under this act likely to b
n-ly
would avail themselves OF such law, be.
cause the burden of complete federal s,,-
pervision and control that must certainly
be imposed to accomplish the purpose Of
the Incorporation would not be accepted
by an ordinary business concern The
third objection. that the worst ofTenders
will not accept federal Incorporation, Il
easily answered. The DEGREES Of injuno-
ton recently adopted In prosecutions un-
der the antitrust law are so thorouah
and sweeping that the corporate a.
fected LY them have but three courses
before them: