The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-13
Geo. W. Perkins Says COuntry's
Business Is Hampered
BY Prosecutions Instituted by
the Government.
CAPITAL DRAWING IN.
No One Knows Whether He Is
Coed or Criminal.
Suggests What He Calls Practi-
cal Plan of Relief.

Washington. Dec. 13.-George W
Perkins, fInancier and director Of the
United states steel corporation, toiu
the Interstate commerce committee TO
day that the practical way to give the
country's big business relief from ex-
listing uncertainty and depression
would be TO create in the commerce
and labor department q business court
or controlling commission with power
to license corpora tons doing interstate
or international business Violations
of regulations laid down by sucn a
comm ission, he urged. should he pun
ishable by imprisonment of individuals
rather than by revocation OF licenses
Mr. Perkins said this commission or
court should be composed largely OF
experienced business men,
Ability to comply with conditions
laid down by congress in creating the
commission and with regulations pre-
scribed by the commission itself, he
said. should be the test of an appH-
cant for license: publicity both before
and after licensing should be the es-
sential feature of these regulations ana
every company should be required TO
secure the approval by the commission
of all its affairs, from capitalization 10
business practice.
Mr.. Perkins suggested that in the
beginning only broad principles DC
laid down. with view TO celebrating
and perfectfng them as conditions re-
irnm ediate relief Mr.. Perkins offered
another for prospective relief rms
contemplated the appointment by the
house and senate of a commission 70
make a careful study of the Sherman
law and the various suggestions that
have been made regarding its appeal,
amendment and amplificaJlOn, and 10
report on the wisdom and practicable
ity OF q national Incorporation act
Trade Is Not Expanding.
ANY one familiar with present bust
ness conditions in this country, both as
to domestic and foreign trade said
Mr. Perkins. realizes that the brakes
are on We are not expanding our
domestic trade TO the extent We should
New enterprises are not being under
taken as freely as they should be- Capt.
tai is contracting rather than expand
ing its operations. while Germany,
Canada and other countries are tOrg-
ing ahead with their industrial plans
THE reason for this arises largely
from the fear engendered by the
prosecutions under the Sherman act at
present The business mans complaint
is that he does not know when he is
right or when he is wrong; that this
apparently can not be known until he
is prosecuted and his case reaches the
courts and that as matters now stand
he does not and can not know as he
proceeds with his business whether he
is a good citizen or a criminal
Serious as this phase of the situa-
ton IS. II is al-imDortant that we do
not commit ourselves to a permanent
national policy until such commitn ent
can be made in a calm. dispassionate !
frame OF mind the people having had
ample opportunity to weigh the pros
and cons of the case. Wife this is
true, immediate relief is clearly desir- !
able If such relief can be provide |
along conservative lines.