The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1910-01-20

able or can Be introduced into the stat
In consiJerina violations OF the anti.
forget that that law makes unIawfol
methods Of carrying ON business whic"
before Us passage were regarded ~ ~
and that they were denounced In this a.t
not because OF their intrins linmora a.
ity, but because OF the dangerous re-
ccntration Of Industrial power In the
hands Of the few, leading 20 oppIes
sion and injustice. In dealing. therefore,
the methods condemned by the statute
for the purpose Of maintaining proh,-
able business, we may well facilitste
ing business, and enable them to bring y
back into the zone OF lawfulness, withou.
losing 10 the country the economy %
trade the cost Of production has been
materially lessened. and IN comPeuton
with foreign manufacturers our foreign
Asks National Corporation Law.
II therefore recommend the enactment
s ,bs feSS % 81 % 70 en
gage In trade and commerce among tns
states and with foreign nations. protect
states and regulating their activities 80
as to prevent the recurrence. under ma
tionnl auspices, OF those abuses when
have arisen under state control such =
law should provide for the issue OF stock
Of such corporations TO an amount equal
only 10 the cash paid In on the stocss'
and IN the stock be issued for property,
then at fair valuation ascertained an.
der approval and supervision OF federai
authority after n full and complete dis
SlGsar, % all the fact, pertsA mr. 20 ,n
therein OF the persons 10 whom y u
proposed 20 issue stock In payment OF
and personal property only Of such cor
porations 60 the same taxation as Inn
posed by the states within which u may
be situated upon other slmilar, properU
such corporations TO file full and COM
plete reports Of their operations with the
regular Intervals Corporations organised
under this act should be prohibited from
acquiring and holding stock In other cor
porations Except for special lessons , upon
ity), thus avoiding the creation. under
national auspices. Of the holding company
states which has been such an effective
agency In the creation OF the great trusts
and monopoles.
State Laws Conflict.
III the prohibition Of the antitrust act
against combinations In restraint OF trade
Il 10 be effectively enforced, IL In essen
tial that the national government shall
provide for the creation OF national cor
poratlons 20 carry on legitimate ersi-
ness throughout the United States. The
conflicting laws OF the different states of
the union with respect TO foreign corpora
lions make II dirncult II not Impossible.
for one corporation to comply with their
requirements so as TO carry on business
In 4 number OF different states.
ITO the suggestion that this proposal OF
binations il Intended 10 furnish them .
refuge In which to continue Industrial
business under federal protection. IL
- 49, -. sese
plated does not repeal the Sherman anti
trust law and n not TO be framed so as
TO permit the doing Of the wrongs which
10 II the purpose OF that law TO prevent
but only to foster a continuance and adj
vance OF the highest Industrial efftciency
without permitting Industrial abuses.
such a national Incorporation law will
be opposed. first. by those who believe
that trusts should be completely broken
up and their property destroyed. IL Will
be opposed. second. by those who doubt
corporation and even n II Is valid, object
60 Il as too great federal Capitalization.
IL will be opposed. third. BY those who
poration IKE this will not attract 70 it's
assistance the worst OF the offenders
against the antitrust statute and who
will therefore propose instead OF II a sys-
TEN OF compulsory licenses for all feder-
business.
Ing 60 dissolve some OF these combina-
lions and IL In not the intention OF the
n S' Il. "ffor, 10 end these COMBINATION
which are to-day monopolizing the com
merce OF thus country. that where II APP
pears that the acquisition and eoneen.
traiion OF property 70 To the extent Of
creating a monopoly OF substantially and
directly restraining Interstate commerce.
u Is not the intention OF the government
10 permit this monopoly 90 exist under
federal Incorporation or 20 transfer TO
the protecting wing OF the federal gov
ernmen OF a state corporation now vio-
lating the Sherman act But II is not,
and should not be. the policy OF the gov
eminent 20 prevent reasonable concen-
tration Of capital which is necessary TO
the economic development OF manufsc-
ture trade and commerce.
May DOUBT constitutionaiity.
''second-Thers are those who doubt ths
constitutlonallty OF such federal incorpor-
alton. The regulation OF interstate and
foreign commerce IL certainly conferred
IN the fullest measure upon congress. and
N for the purpose OF securing In the most
thorough manner that kind OF regulation.
congress shall insist that II may provide
and authorize agencies to carry on. that
commerce, II would seem 20 be within It's
power. this has been distinctly affirmed
with respect TO railroad companies doing
an interstate business and Interstate
fidges. The power OF Incorporation has
been exercised by congress and upheld
by the supreme court In this regard.
Why. then. with respect TO any other
form OF interstate commerce Ike the sale
OF goods across state boundaries and into
foreign countries, may the same power
not be asserted Indeed, Il Is the very
fact that they carry on Interstate COM
merce that makes these great industrial
concerns subject 20 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
eminent 20 authorize the manufacturer OF
goods, Is perhaps more open 20 discus
nlnll ilnlIlL "A nnnnI.l AnDl.l1lr, u h. IN