The searchlight. [volume] (Culbertson, Mont.) 1902-current, 1910-01-14

able O. en- - introduced Into IL staas
I'm oonssdsang violations Of the anti
trust law Ne ought. Of course. not y
methods Of carrying on businees which,
before iss passage were REGARDED - svi-
dence Of business sagacity ana succesA
not because OF their intrinsic immoral
ity. but because OF the dangerous re-
suits toward which they tended. the con-
s.Da: e e. ~. ..nns g opprs
sion and injustice: In dealing. tnefeioI1
with many Of the men who have used
the methods condemneo ~ Ine css s'aes
able business. we may well facilitate
change BY them in the method Of DO.
Ing business. and enable them 70 bring is
back into the zone Of iawfuiness. without
losing to the country the economy of
management by which. In our domssuo
trade the cost Of production has been
with foreign manufacturers our foreign
trade has been greatly increased
Asks National Corporation Law.
81 therefore recommend the enactment
by congress OF q general law providing
for the formation Of corporations 70 en-
gage In trade and commerce among tne
states and with foreign nations. protect
ing them from undue interference oy the
states and regulating their activities 20
as to prevent the recurrence. under ma
uondl Au4Dlc80, Oh NboSS nUeSSS "sasSss
have arisen under state control Such .
law should provide for the issue OF stock
OF such corporations to an amount equal
on 70 the Sssh b pas s.u ne 0n for
then At . fair valuation ascertained un.
der approval and supervision OF federal
authority after fuli ana so napn *, rs
value OF such property and the interest,"
therein OF the persons to whom II is
proposed 70 Issue stock In payment q
and personal property only Of such cor
porations to the same taxation az im-
posed by the states within which It may
located therein, and 1t should require
such corporations to file full and COM
piete reports Of their operations with the
regular Intervals. Corporations organized
under this act should be prohibited from
acquiring and holding stock In other cor
foT federal
ity). thus avoiding the creation. under
national auspices. OF the holding company
with subordinate corporations In dineren.
states which has been such an enectivs
agency in the creation OF the great trusts
and monopolies.
state Laws Conflict.
'1f the prohibition Of the antitrust &C,
against combinations in restraint OF trade
to ns ne sSa
provide for the creation OF national cor
porations to carry on a legitimate omsi-
ness throughout the United states. Th ns
the union with respect to foreign corpora
tions make II difficult. X not impossible
for one corporation to comply with theii
requirements 10 to carry on business
in a number OF different states.
ITO the suggestion that this proposal OF
federal incorporation for industrial com
refuge In which to continue industrial
business under federal protection. II
should be said that the measure contep
plated does not repeal the Sherman anti
| trust law and is not to be framed so a,
to permit the doing Of the wrongs which
II Is the purpose OF that law to prevent
vance Of the highest Industrial ef,icienc,
without permitting industrial abuses.
such a national Incorporation law will
be opposed, FIRST by those who believ'
that trusts should be completely broke,
up and their property destroyed. 1t vii
| be opposed. second, by those who doub
| the constitutionality OF such federal In
| corporation and even II 1t Is valid. ob1ec
| to II as too great federal Capitalization
II will be opposed. third. by those VIII,
| will insist that mere voluntary fncor
poration like this will not attract to IL
ag sinst the antitrust staAite and VIII
/ viii therefore propose instead OF Y sys
tern OF compulsory licenses for all FEEDER
al corporations engaged In interstat
LET us consider these objections i
/ their order. The government Is now try
n lions g ana s sos The q n
| government TO desist In the least deyre
| IT. its effort to end these combination
which are to-day monopolizing the com
| pears that the acquisition and concen
tration of property go to the extent 0
creating a monopoly OF substantially an
II Is not the intention of the government
to permit this monopoly to exist unde
federal Incorporation or to transfer
ernmen OF state corporation now vic
lating the Sherman act. But II is mo-
and should not be. the policy OF the gov
tration of capital which Is necessary
the economic development OF manufas
ture. trade and commerce.
| May Doubt constitutlonaIity.
"second-There are those who doubt tn
eonstitutionality OF such federal incorpol
alton. The regulation OF interstate an
in the fullest measure upon congress. an
II for the purpose OF securing In the mos
| thorough manner that kind Of regulation
and authorize agencies to carry on. this
| commerce. II would seem to be within II
power. this has been distinctly affirme
with respect to railroad companies doin
an interstate business and intersta,
bridges. The power OF incorporation ht
been exercised by congress and uphe
| by the supreme court In TINS regar,
Why. then, with respect to any 9th,
form of interstate commerce like the sa
OF goods across state boundaries and In
| foreign countries, may the same pow,
not be asserted? Indeed. II Is the vel
fact that they carry on Interstate cor
meree that makes these great industri
concerns subject to federal prosecute
and control. How far as incidental
the carrying on OF that commerce II ms
be within the power OF the federal SO
eminent to authorize the manufacturer
| goods. Is perhaps more open to discu
sion. though a recent decision of the 8
| preme court would seem to answer tn
! | question in the Affirmative.
1.-The third objection. that the worst Q
Tenders will not accept federal ineorpor
| ton. is easily answered. The DEGREES
| Injunction recently adopted In prosec
, | tons under the antitrust law are
thorough and sweeping that the corpor
| tions affected by them have but thr
, courses before them:
, First. they must resolve themselv
, into their component parts In the diffe
ent states. with q consequent loss
themselves of capital and effective orga
ization and to the country Of conee
. trated energy and enterprise: or secor
4 In defiance OF the law and under sor
| secret trust they must attempt to co