Evening journal., 1910-06-20
THE DIFFICULTY PROBLEM.

4 HE NeNng problem OF how TO deal with
Il great corporations that do interstate COM
merce business was handled by Judge Grosscup
of Chicago. in an address before tile Academy Of
Law in Philadelphia the other day. The Judge
evidently believes that competition so far as il
relates to railroad companies and other natural
monopoles, is thing of the past lie thinks
that the government should recognize trusts and
monopolies SUCH and regulate them by law.
AS he saws despite the efforts to break up such
combinations under the Sherman law, they still
exist and multiply
This view is held by many who have studied
the problem, but after all, 1t must be confessed
that our statesmen have discovered satisfac-
tory method of dealing with the giant combina-
tons. All legislation so far enacted is merely
cropping in the dark hoping for some solution to
what is rapidly proving to be the industrial mys-
terry.
Various opinions have been expressed and
one is almost good as another. For example,
one group of thinkers-eXtreme conservatives
still bark back to the old doctrine that the gov
eminent should not interfere with business at
al-that the railroad companies Should be per-
mitted TO do as they please. They do not
recognize changed conditions, the industrial rev
olution, as it has been called.
The extremists of this class the class that
advocates no interference-6ght for their opin-
ions in more or less interesting manner. At
present they are calamity howlers declaring that
II the government doesn't let the railroads alone,
business will go to ruin. Efforts are making TO
scare workingmen into the belief that the rail
road companies may get into serious distress
and no one will have job.
This is the extreme view, but most of the
leaders i'm railway matters have accepted as 4
fact that the government will regulate .the rails
road companies The big corporations are the
creatures OF the government, and the government
must have some oversight of them. And no
sensible man believes that the government Will
send these corporations TO destruction. Those
that are well managed paying dividends. and
if they fail to earn dividends, in most instances
il is because they arc trying TO earn them on a
fictitious capitalization.
There are other persons who think that COM
petition. real and not fictitious, can be restored
in large business but it is doubtful if this can be
done in the case of natural monopoes The
tendency is not in that direction.
Another group, the Socialists, say that the
concentration of wealth is natural, that the great
monopolies are the result of the natural tendency
of capital to mass itself They propose that the
government own the natural monopoes and
manage their affairs in the interest they say,
of the people But it will be a long time before
such view will prevail, If il ever gains serious
ioothod.
We shall probably go along experimenting
and hoping to find a solution. And the most
probable solution is government regulation
II is of the utmost importance that the rail-
road companies and all other business enter
prises shall be dealt with fairly, that sensible
view of the matters shall be taken. This can
not be brought about BY efforts on one side to
scare the government or by extreme appeals by
those who attack the railroad companies merely
because they want to attack the existing order
All should work together recognizing that the
railroad corporations and the people have rights
and there should be mutual respect OF those
rights