Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1911-07-22

Attorney General. Who May 5e
Spokesman For TAFT. Says inter-
state Commission Should Regulate
Corporations.
Attorney General Wickersham. In
speech before the Minnesota State
Bar association In Duluth took an
advanced stand on the further fed
eral regulation of corporations. and
declared that government commits
sion to regulate great industrial or
CARNATIONS. in the same way that the
interstate commerce commission reg
ulatcs railways, was not only most de.
sirable, but might be absolutely ne.
cessary.
Mr.. Wickersham's speech was little
short of sensational in many of It's
features. He declared that il was
matter of serious consideration wheth-
er 1t would be practical to give to the
proposed interstate corporation COM
mission the power to fix prices. To do
this In theory would simply require
an extension of the principle by which
the interstate commerce commission
controls the rates on railroads.
The law OF supply and demand, Mr..
Wickersham said. no longer controls
prices IA the United States. For years.
he declared, the prices in all the great
staple industries have been fixed by
an agreement between the principal
ri re A... al t.lov ~
free competition.
An interstate commission, the attor.
ney general added. would prevent vio-
lation OF the antitrust act and aid
business men to maintain continued
status OF r. rmony with the require
ments OF 4 law.
Many OF .Ir. Wickersham declara-
lions were the most radi' ! he has
made since his entrance into official
life With the weight OF an administra'
ton officer behind them. his remarks
made deep impression. There was
nothing in the speech To indicate how
far the attorney general reflected the
views of President TAFT. On several
occasions in the past. however. hs has
been regarded as spokesman Tor the
administration
The attorney general discussed the
general question OF what further reg.
nlaiion OF interstate commerce Is ne
ccssary or desirable. from broad
point OF view. and said he had not at
tempted To express a conclusion, but
merely to state the elements of Il
great problem which goes TO the root
OF the prosperity Of the American peo-
pie
That some further regulation over
corporations CARRYING on commerce
among the states may be necessary"
he said, lis coming to be a matter OF
current comment. II has been openly
advocated quite recently by represen-
tatives OF some Of the largest combi-
nations of capital, probably as means
of salvation. and To preserve under
government supervision great organi-
cations where continued existence Is
menaced by the recent Interpretation
Of the Sherman act, the disintegration
OF which would be necessarily attend
ed with much loss. To such. II Is a
case of any port in shipwreck.'
Better continued cooperative life, even
under powerful master. than dis.
seminated properties and segregated
activities without constant govern
mental supervision"
Mr. Wickersham implied that a fed
cral incorporation act. while II might
offer some difficulties. would help 10
lay the axe at the root of trust evils
Of this he said
III congress should enact that no
corporation engaged in interstate com.
merce shall hereafter acquire any
stock of any other corporation so en-.
gagged. and that unless all sdch cor.
porations should dispose of all stocks
held by them in other corporations en-
gagged in interstate commerce within
some specified period. they should be
prohibited from carving on interstate
commerce until they did SO dispose OF
such stocks. the axe would indeed be
laid al the root of the trust evil.'
Exceptions should be made from
the prohibition as might he necessary
To the protection of innocent holders
of securities. Mr.. Wickersham said.
Bee sting Kills Man.