The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1911-09-26

evei, and because we are not rush
ng on at record-breaking pace and
making big profits that is no reason
or the present irrational state of de-
preston.
Presidents Address Misunderstood.
The Presidents address on the
Sherman act on Tuesday was at first
somewhat misunderstood. 1t created
an entirely unwarranted feeling of
when in reality it should
have given ample reinsurance, if cor
rectly interpreted. Mr.. Taft's atti-
tude toward monopoly is unchanged.
He recognizes, as. does any thought
full observer, that the drift toward
monopoly is against public welfare
and has brought us closer to industrial
revolution and socialism than any 9th |
er known force. He, therefore, wise
ly insists upon performing his duty
in enforcing the law. He objects to
any revision of the Sherman law be-
cause the Supreme court has already
built up a series of interpretations
which make the law in it's application
well understood Revision, he be-
! lieves, would simply revive agitation
and probably set aside all of the ex-
cellent work and thought already eX-
pended upon the subject by the SUI
preme court. The decision is now be-
ing enforced in the Tight of reason,
and revision, he thinks, is wholly I'M
necessary and could accomplish moth
ing except further injurious disturb
ance of business affairs. Mr.. Taft also
very properly argues against the pro-
posal that the Supreme court should
decide between good and bad trusts,
as imposing improper work upon the
court, the inference being that trade
monopolies when good would be al
lowed to live; only the bad being sent
ognizes the utter impossibility of
keeping monopolies always good in the
present makeup of human nature.
Monopolies, it is as well to remember,
are only safe where the beatitudes
; can be enforced. Altogether, Mr..
Taft's address was very reassuring.
While showing prime regard for sound
public policy it at the same time
: showed keen consideration for bust
| ness interests and plainly that no hos
: tile campaign was to be conducted
against large corporations as such,
Business interests have been unduly
{ harassed by excessive and often IRA
l tional ATTACKS upon capital for purely
t political ends. Against the latter, Mr.
: Taft has lifted strong arm regardless
5 of consequences to himself and this
2 is something which should be assur
< ing to financial and business interests
/ The Future Uncertain.
e The future course of the market is
i uncertain. Liquidation may carry
: prices still further, but it is quite Ger
g tain that as soon as completed, 6
i sharp upward reaction will follow
e We can only repeat our previous ad
: vice of exercising much discrmina
:. ton in purchases. Several very poo
e railroad statements were issued dur
!, ing the week and not unlikely SOM
y of the industrials will soon show thu
i consequences of trade reaction, leav
v ing the maintenance of dividend
# somewhat in question. The future o
= United States Steel and other big col
d porations is an important uncertain
y ty The International Harvester i
II reported to be contemplating volur
l. tary dissolution; so, too, is the I'm
q ted States steel. if dissolution of tn
& latter is possible. If these companie
1. adopt this sensible policy other
@ threatened with indictment will III
al questionably follow suit. The secur
1t ties of high grade railroads and indu
Is trial corporations having a well-estal
h lished record for earning capacity al
is in many cases selling at exceedingl
a attractive prices to the investor. We
of selected purchases of this charactt
g, will undoubtedly result in good prof
he to the buyer within a few months.
al
- S. A. MORRISON is