The Charles Mix new era. (Wagner, Charles Mix County, S.D.) 1???-1911, 1910-01-14

forget that thai law makes unlawful.
mefh0ds Of carrying on busincas which
before ie passage were regarded - evt-
dence Of business sagacisy and success.
and that they we're denounced In this oct
not because Of their intrinsic mineral
ity. but because OF the dangerous re-
centratson Of industrial power In The
hands Of the few. leading to oppsOa-
sion and Injustice. In dealing. therefore,
with many of the men who have used
the methods condemned by the statute
for the purpose Of maintaining = pront-
able business, we mai well fAsfhsa0 .
change by them In the method OF 40
lag business. and enable them 10 bring IL
back into the rome OF lAwfuiness. without
losing To the country the eeenosny OF
trade the cost OF production has been
materially iessened, and In competition
with foreign manufacturers our ferAAgn
trade has been greatly Increased.
Asks National Cooperation Law.
II therefore recommend the enactment
by congress Of a general law providing
gage IN trade and commerce among the
states aud with foreign naGtous, protect
ing them from undue interference by the
states and regulating their activities 80
tionai auspices. OF those abuses which
have arisen under state control. Such .
Law should provide for the issue OF stock
OF such corporationas to an amount e0Sal
and TX the stock be issued for propc1ty,
then at . fair valuation ascertHined un-
de. approval and suPeryssioE OF iedsrai
closure Of all the facts pertaining To the
value OF such property and tho tntes,Ast
therein of the persons 10 whom II 10
opposes to issue stock In payment OF
such property. 1t should subject the real
and personal property only Of such cor-
porations to the same taxation ~ ia
posed by the states within which II may
ho UftlafaA ma nfhar xAyvpttAr nyynaVlN
located therein, and IL should require
such corporations TO file fun and COM
plete reports OF their operations with b
department OF nme and labor at
regular intervals. Corporations organised
under this act should be prohibited from
acquiring and holding stock in other cor
approval by the proper federal author
ity), thus avoiding the creation. under
national auspices, OF the holding company
with subordinate corporations In different
states which has been such an effective
agency in the creation OF the great trusts
and m~onopoiies-
State Laws Conflict.
IF the prohibition of the antitrust act
against combinations in restraint of trade
is to be effectively enforced. IL is essen
tial that the national government shall
provide for the creation of national COR
porations to carry IN a legitimate WASH
ness throughout the United States. The
conflicting laws OF the differenf states of
the union with respect TO foreign corpora
lions make IL difficult. IL not impossible,
Tor one corporation 10 comply with their
requirements so as - carry on business
in "a number OF different states.
'To the suggestion that this proposal OF
federal incorporation for industrial COM
binations is intended 10 furnish them q
refuge in which 10 continue industrial
business under federal protection. Il,
should be said that the measure eontern-
plated does not repeal the Sherman anti
trust law and is not TO be framed so as
tn narpplf the doing nf the rnHw1 nghiah
II is the purpose of that law TO prevent.
but only 10 foster a continuance and ad-
vance OF the highest industrial efficiency
without permitting Industrial abuses.
such a national Incorporation law viii
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 If II is valid, object
10 IL as too great federal Capitalization.
1t will be opposed. third. by those who
Will insist that a mere voluntary incor-
poration like this will not attract 10 its
assistance the worst of the offenders
against the antitrust statute and who
tenn of compulsory licenses for all feder-
al corporations engaged In interstate
business.
Let us consider these objections In
their order. The government Is now try
to dissolve some OF these eombina-
lions and IL is not the Intention OF the
government TO desist in the least degree
in its effort to end these combinations
which are to-day monopolizing the COM
merce OF this country; that where IL APP
pears that thA acquisition and concen-
tration OF property go TO the extent of
creating a monopoly of substantially and
directly restraining interstate commerce..
IL is not the intention OF the government
to permit this monopoly to exist under
federal Incorporation or 10 transfer 10
the protecting wing OF the federal gov
ernmen OF a state corporation now yio-
lating the Sherman act. But IL is not.
and should not be, the policy OF the gov
TO prevent reasonable concen-
OF capital which Is necessary 10
the economic development OF manufac-
ture, trade and m
May Doubt constitutionaiity.
"Second-There are those who doubt the
eonstitutionality of such federal ~incorp6r-
The regulation OF interstate and