Daily Arizona silver belt., 1910-04-12
SUICIDAL MANIPULATION

SUICIDAL MANIPULATION
 "Nobody in the United States dreams of the amount of money that would be invested in American securities if the government, general ly speaking, would only stop attacking and ob- structing business. In all the European coun- tries the people are being taxed very heavily almost up to the limit-and they are anxious, al most forced to seek foreign investment.
 ''The foreigners money would come to the United States in immense volumes if the govern ment attacks ceased
 ''The people of Europe cannot understand why government should attack the business of country when all European governments are doing all they can to foster the industrial op- erations and aid in business enterprises in their respective countries '-Part of letter from one of the most prominent fnanciers in the United States now travelling in Europe, to a personal friend here.
 Judge Brewer s death is distinct loss to the whole country In these days of fads and uplifts we have, among those in control, none too many of the old fashioned sane, common-sense char acters such as his. His decisions in law carried profound weight and his utterances on current topics (hich he did not hesitate to voice in lec- lures dllu were lulI Ol LII SOOu judgment. In the ultimatum of the supreme court on the antitrust contentious, his presence on the bench gave assurance to thinking people that the outcome, which is overhanging the whole country $ business with stupefying effect would be of the least disturbing character con- sistent with the just construction of this drastic and dangerous law. His opinion in the North ern Securities case, where the same law was in- volved, while it concurred ill the necessity of dis solution, dissented from the court in alleging that only unreasonable restraint should be held as good grounds, while the courts opinion was that any restraint, reasonable or not so, was in- tended to be actionabe. The lower court, in the tobacco case held for this same sweeping edict of dissolution. It decided that the American Tobacco company was combination in restraint of trade, but the judges took occasion to declare in effect that it was a combination of the most beneficial character to the consumer, the pro- ducer of the leaf and to the whole country in general. The president of the Tobacco company at that time said to his stockholders:
 "It is gratifying that the court found our methods and success have not injured the con- sumers of tobacco, and have greatly benefited the producers of leaf tobacco by giving larger market and higher prices, and that we have not resorted to unfair or oppressive competition.
 ''The only particular in which this count has decided against the company is on matter, the facts of which this company never contested, and with reference to which it is in the same condition as most of the large corporations, as well as many of the small corporations and CO., partnerships doing business in the country''
 In the decision, Judge Lacombe construed the law to mean that every combination of indi- viduals or corporations, immediately upon its formation, shut out such competition as had for merly existed between the two, and asserted that the act consequently prohibited every con tract or combination which restrained any con- petition at all, big or little. He said, "Sze is not made the test; two individuals who have been driving rival express wagons between viii lages in two contiguous states who enter into a combination to join forces and operate single line, restrain an existing competition.' And he thought it might not even be necessary for these two wagon drivers to form partnership, but that verbal agreement between them would make combination which would be against the law.
 This decision in the tobacco case disregarded the attitude of Judge Brewer; and the lower court, in the Standard Oil case, too, decided away from the reasonable grounds of Judge Brewers opinion.
 It is not to be wondered then that the taking away from the deliberations and conclusions of the highest court of this independent and em-