Weekly journal-miner. [volume] (Prescott, Ariz.) 1908-1929, 1911-12-13
lays down in enforcing the Statute.
supplemental Legislation Needed -
Not Repeal or Amendment

lays down in enforcing the Statute.
supplemental Legislation Needed
Not Repeal or Amendment.
! sec no objection and indeed
can see decided advantage tho
onactment of law which shall de
scribe and denounce methods Of com
petition which are unfair and are
badges Of the unlawful purpose de.
nounced in the antitrust law. The
attempt and purpose TO suppress a
competitor by undertaking him AT n
price so Improbable as 10 drive him
out OF business, or the making of OK.
elusive contracts with customers
under which they are required TO give
up association with other manufae.
turers, and numerous kindred methods
for sitting competition and effectinR
monopoly, should he described with
sufficient accuracy in n criminal stat.
ute on the one hand to enable the
government TO shorten its task by
prosecuting single misdemeanors in.
stead Of an entire conspiracy, and.
on the other hand to serve the pur.
pose Of pointing out more in detail
10 the business community what must
be avoided.
Federal Incorporation Recommended.
In special message 20 congress on
January z, 1910, ! ventured 10 point
out the disturbance 10 business that
would probably attend the dissolution
oil these offending trusts. ! said:
But such an investigation and
possible prosecution Of corporations
xk 81
fects the comfort not only OF stock.
holders but of millions Of wage earn.
ers, employees. and associated trades.
men must necessarily tend 10 disturb
the confidence Of the business com.
munity, to dry up the now flowing
sources Of capital from its places Of
boarding, and produce halt in our
present prosperity that will cause
suffering and strained circumstances
among the innocent many for the
faults Of the guilty few The ques.
ton which ] wish in this message 10
bring clearly 10 the consideration and
discussion Of congress IL whether. in
order TO avoid such possible bust.
ness danger. something can not be
done by which these business combin.
ations may be offered n means, with.
ont great financial disturbance. Of
changing the character. organization.
and extent Of their business into one
within the lines Of the law under
Federal control and supervision, Sc.
curing compliance with the anti.
trust statute.
Generally. in the industrial com.
binations called trusts the princi-
pal is the sale of goods in many
states and in foreign markets; in
other words. the interstate aud foreign
business far exceeds the business done
in any one state. This fact will
Justify the Federal government in
granting Federal charter TO such
combination 60 make and sell in inter
state and foreign commerce the pro.
duets of useful manufacture under
such limitation rs will secure n com.
pliance with the antitrust law. 10
is possible 40 20 frame "A statute that
while IL offers protection 10 FEEDER
al company against harmful, vcxati.
Gus. aud unnecessary invasion by the
states, il shall subject IL 20 reason.
able taxation and control 10y the
states with respect 10 its purely local
business.
Corporation organized under this
act should be prohibited from aequir-
ing and holding stock in other cor
porations Except for special reasons,
upon approval by the proper Federal
authority. thus avoiding the creation
under national auspices Of the hold
ing company with subordinate corp
Grafton in different states. which has
been such an effective agency in the
creation Of the great trusts and mon.
opolies
"If the prohibition Of the anti.
trust act against combinations in re-
straint Of trade Is TO he effectively
enforced, IL is essential that the Ma.
fional government shall provide for
the creation Of national corporations
10 carry on legitimate business
throughout the United States. The
conflicting laws Of the different
states Of the Union with respect to
foreign corporations mike IL diff.
cult, IL not impossible, for one cor
poration to comply with their re-.
quiremeDts 20 AS 20 carry on business
in number Of different states"
| renew the recommendation OF the
enactment Of general law providing
for the voluntary formation Of cor
porations TO engage in trade and com
merse among the states and with for.
eign nations. Every argument which
was then advanced for such law,
and every explanation which was at
that time offered 10 possible objee.
tions, have been confirmed by our ex.
perience since the enforcement Of the
antitrust statute has resulted in the
actual dissolution Of active CONNER.
eial organizations,
II il even more manifest now than
IL was then that the denuneiation OF
conspiraeies In restraint Of trade
should not and does not harm the de.
NAL Of organizations large enough 10
be intrusted with our interstate and
foreign trade. II has been made
more clear now than II was then
that n purely negative statute like
the antitrust law may well be sup.
plemented by specific provisions for
the building mp and regulation Of leg
itimate national and foreign com.