Daily press. [volume] (Newport News, Va.) 1896-current, 1910-01-08

lnc1Qentdi TcStftiUtS Oh lf5uc are ucio
rot to be within the law and are ex-
ciuded by the general statements that,
to be within the statute. the effect up
on the trade OF the restrain. must be
direct and not merely accidental or
indirect The necessity. therefore,
for an amendment of the statute so as
20 exclude these incidental and bene'
fetal covenants IN restraint OF trade
held at common law to be reasonable
does not exist. The value OF
a statute which is rendered more and
more certain in its meaning by a Sc
ries OF decisions OF the Supreme Court
furnishes a strong reason for leay'
ing the act as 1t is. to accomplish It's
useful purpose. even though II II
were being newly enacted useful sug-
gestions as to change of phrase might
be made.
General Investigation.
II is the duty and the purpose OF
the executive to direct an investiga-
ton by the department of justice
through the grand jury or otherwise,
into the history, organization. and gar
poses of all the industrial companies
with respsct TO which there is any
reasonable ground for suspicion that
theyshave been organized for a pur'
pose. and sTe conducting business on
a plan which is in violation of the
antitrust law. The work is a heavy
one, but II is not beyond the power
of the department of justice If sum
cient funds are furnished, TO carry on
the Investigations and TO pay the
counsel engaged in the word. Bu'
such an Investigation and possible
prosecution of corporations whose
prosperity or destruction affects the
comfort not only of stockholders but
OF millions of wage-earners. en-
plOyees, and associated tradesmen
must necessarily tend to disturb the
confidence of the business community
to dry up the now flowing sources o'
capital from its places of harding
and produce a halt in our present
prosperity that will cause suffer- ne
and strained circumstances among The
innoment. many for the faults of The
guilty few.
The question in which | wish II
this message to bring clearly to The
consideration and discussion of con
gress is whether in order TO avolC
such a possible business danger some
thing cannot be done by which thee1
business combinations may be Offered
a means. without great financial dis
turbance, of changing the character
organization. and extent OF their busi
ness into one within the lines OF tins
law under federal control and super
vision, securing compliance with tht
antitrust rtatute.
/ Federal Charter.
Generally, in the industrial comb
nations called trusts" the principa
business Is the sale of goods in man,
states tnd in foreign markets; il
other words, the interstate and foreign
business far exceeds the business
done In any en- state. This fact vii
Justify the federal government II
granting a federal charter to such
combination 10 make and sell in in
terstate and foreign commerce thu
products of useful manufacture un
dsr such limitations as will secure
compliance with the antitrust law.
Is possible so TO frame a statute tina
while II offers protection to fedora
company against harmful. vexatious
and unnecessary invasion by the
states. Il shall subject IL to reasonable
taxation and control by the states
with respect 70 It's purely local bust
ness.
Many people conducting great brTi
ness have cherished a hope and be
l.sved that in some way or other a line
may be drawn between good trusts
and bad trusts" and that it is posi-
BILE BY amendment to the antitrust
law to make a distinction under which
good combinations may be permitted
to organize. suppress competition
control prices and do it all legally i
only they do not abuse the power by
taking too great profit out of the bust
ness. 80
Now the publlc. and especially the
business public. ought TO rid them
selves of the idea that such dis
tinction is practicable or can be IN
tFcduced into the statute. Certainly
under the present antitrust law nc
such distinction exists. II has beer
proposed. however. that the WORD
reasonable" should be made a par
OF the statute. and then that ii should
10 left TO the court to say SShat Is
reasonable restraint of TRADE. what Is
a reasonable suppression of compe-
tition. what is a reasonable monopoly
venture to. think that this is TO put
into the hands OF the court a power
imposs' bic to exercise on any con-
sistent principle which will insure the
uniformity OF decision essential &c
just Judgment. $50
Mitigating Circumstances.
In considering violations of the anti.