The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1911-11-17
ROOSEVELT SAYS
ANTI TRUST LAW
INADEQUATE
Would Regulate Trusts But
Not Crush Them
NEED ORDER NOT CHAOS
Courts Cannot Perform Executive
and Administrative Function
To Advantage

SEES the trust question in this weeks
Outlook. in the light OF the govern
nent's suit against the United States
steel corporation. The article in part
follows;
The suit against the steel trust by
The government has brought wildly
before our people the need OF reduc-
ing TO order our chaotic government
policy as regards business. AS presl-
dent in messages to Congress l re-
peatedly called the attention OF that
body and of the public to the made
ouacv of the antitrust law by itself |
to meet business conditions ana Sc
cure justice to the people, and to the
further fact that 1t might, II left un-
by additional legisla-
ton. work mischief. with no compen-
sating advantage; and | urged as
strongly as | knew how that the
policy followed with relation to rail-
ways in connection with the inter
state commerce law should be follow
ed by the national government as re-
CARDS all great business concerns;
and therefore that, as a first step
the powers of the bureau OF corpora
tions should be greatly enlarged, OF
else that there should be created
governmental board or commission
with powers somewhat similar to
those of the interstate commerce
commission. but covering the whole
field of interstate business, exclusive
of transportation (which should, by
law. be kept wholly separate from
ordinary industrial business, all COM
mon ownership of the industry and
the railway being forbidden. In the
end have always believed that 1t
would also be necessary to give the
national government complete power
over the organization and capitalize.
ton of all business concerns engaged
In interstate commerce.
Before taking up the matter in its
large aspect, / wish to say one word
as to one feature of the government
suit against the steel corporation
| One OF the grounds for the suit is the
acquisition by the steel corporation
of the Tennessee coal and iron com
pany; and it has been alleged, on the
authority OF the government official!
engaged in carrying on the suit, tina
as regards this transaction l wal
misled by the representatives Of th'
steel corporation, and that the facti
were not accurately or truthfully laiC
before me. This statement is no
correct. | believed at the time tina
the facts In the case were as repre-
scented to me on behalf of the stee
corporation, and my further know
ledge has convinced me that this wal
true. believed at the time that thu
representatives of the steel corpora
ton told me the truth as to thu
change that would be worked in thu
percentage of the business which th'
proposed acquisition would give thu
steel corporation, and further inquir!
has convinced me that they did So
was not misled.
After a general discussion of tn,
issue at some length, Mr.. Roosevelt
concludes, saying: 1T is PRACTICAL!
impossible, and, II possible, it would
be mischievous and undesirable t
try to break up all combination
merely because they are large anC
successful, and to put the business o
the country back into the middle o
the 18th century conditions of in
tense and unregulated competition
between small and weak business
concerns. Such an effort represents
not progressiveness, but an unintelli
gent, though doubtless entirely well
meaning toryism. Moreover, the ef
fort to administer q law merely by
lawsuits and court decisions II
bound to end in signal failure anC
meanwhile TO be attended with de
lays and uncertainties, and to put
a premium upon legal sharp practice
Such an effort does not Adequately
punish the guilty, and yet works
great harm to the innocent More
over 1t entirely fails to give the
publicity which is one of the best by
products of the sytem of control by
administrative officials; publicity
which is not only good in itself, bu
furnishes the data for whatever fur
Their action may be necessary. w,
need to formulate Immediately anC
definitely policy which, in dealinl
with big corporations that behav,
themselves and which contain NJ
menace save what is necessarily DO
tential in any corporation. which II
of great size and we'll managed shall
aim not at their destruction, but a
their regulation and supervision, 8,
that the government shall contro
them in such fashion as amply L
safeguard the interests of the Who'll,
public, including producers, consum
ers ans wageworkers. This contro
should, II necessary, be pushed in ex
IRENE cases to the point of exercis
ing control over monopoly prices. al
rates on railways are now controlled
although this Is not power tina
should be used when Il is possible I,
avoid II. The law should be clear
unambiguous, certain, so that homes
men may not find that unwittlngl,
they have violated Il. In short GU
aim should be. not to destroy. bu
effectively and In thoroughgoing fash
ion to regulate and control, In tn
public interest the great instrumen
talities Of modern business. which
Is destructive OF the general welfar
OF the community to destroy. an
which nevertheless II is vitality neces