The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-20


of years past have not been fixed at all
by the operation OF the laws OF supply
and demand or OF unrestrained compe-
ttion but by associations OF the pro-
ducers, without the participation of the
consumer or the general puolic-that IS.
without those who have had to pay the
bin having any voice in hxing the
price In this View i, is certainly no,
unreasonable that the purchasing pub
lie should desire 10 have some part in
determining the price it is to pay. in
like manner as has been recognized to
be just with respect TO The cost OF
transportation.
IL there could be any assurance that
the free play OF competition would be.
assured, and the natural price resulting
from the unrestricted operation OF sun
ply and demand maintained, then no
governmental supervision OF business
beyond occasional prosecutions for VIC
lation OF the sherman law would bc
necessary. But the habits formed
through years OF following a system
are not easily shaken off and the artt-
hcial forms of organization made nee
essary by the CONFLICTING laws OF many
always present a borderland of doubt.
which furnish on the one hand onDor-
tunitics for those who wish to violate
the law TO do so with some show of
Justification. and on the other 10 per-
PICK those who are sincerely DESTROYS
OF keeping the law but by reason ot
the compieXity and conflict of d,rerent
state laws, ind 1t difficult TO do so
without seeming to run counter to the
antitrust la's. For the enectual reg
ulatton of both OF these classes ,ba
supervision OF Federal commission
Is certainly desirable II not absolutely
necessary
If Congress should enact that no
corporation engaged in inters,ate
commerce Shall hereafter ACQUIRE any
stock Of any other corporation SO en-
gagged. and that unless all such CIR
porations should dispose of all stociss
heid by them In other corporations
engaged In interstate commerce vjtbtn
some specified period they should h..
PROMPTED from carrying on interstate
commerce until they did.so disnose ~
such stocks. :he axe would indeed he
laid a the root OF the trust CYL. hpt
justice TO the !nnocen, holders OF Sc
curit!es Issued to the public based on
P!eosed stocks acquired and held pur
suant TO express legal authority womb
their case. and such exceptions 10 bc
made from the prohibition as might
De necessary to their protection
Undesirable Incidents.
conservative minds naturally shrin,,
from accepting Il conclusion which
would devolve upon the national rov-
eminent the comprehensive powers aud
duties involved in extending The orin-
cipies OF the interstate commerce 1ou,s
over commercial and Industrial cor.
porations. for the Increased centrali.
Hation OF control in Washington over
me trade of the country the miltinIi-
cation OF Federal office holders and
bureaucratic intermcddline with bus-
mess may be necessary. but are undo.
sirapie incidents to the conduct Of
daily business life
These problems go to the very roo.
or the continued prosperity of our non.
PIE They can only be solved nv
careful consideration. free from apv
partisan bias. I have not attomnto5
10 express conclusion. hut merely 70
STATE the elements of n problem which
u wisely determined. will scattar
plenty DER smiling land and ~ ~
wisely dealt with may paralvZc tba
mana OF Industry that maketb rich
no, win the unequal wealth OF monon.
oily. but with the distributes ,vnaJtt,
when brings national prosperity and
continued peace" anu