The Birmingham age-herald., 1911-11-11

lTOl. That IS, d licensed COTpOTdtlOH would be permitted to engage in interstate commerce on such terms as were fixed by the federal law and by state laws, but would not be permitted to control more than 50 per cent of the total product.
 Limit May Be Changed The 50 per cent limit also is arbitrary, and may be raised or lowered to conform to experience, the object being to compel corporations to come under federal super vision when they reach a point where they may exert harmful influence over trade and to stop when they reach point when harmful influence may be presumed The license should require proof of paid in capital and absence of water" and licensed corporations should be prevented from employing any of the means which are now resorted to for the elimination of competition, as, for instance. selling at a low price in one section and at a higher price in another.
 It will be seen that under the license system a change can be made at any time. not only in the percentage, but in the conditions upon which the license is granted and in the regulation applied to licensed corporations The object of this system is that it re- stores competition and leaves competition to regulate price, terms, quality, and so | ioIt1l IL udS bnt duNdnldet diSo Ol ES- lieving from interference those corpora tions which are too small to exercise a restraint upon trade.
 Hits the Evil
 | In other words. the plan hits the evil at which it aims, and not only relieves the smaller corporations from embarrass- ment but protects them from such rivals as attempt the employment of illegitimate means for the extension of their business The plan restores competition and wards off the danger involved in regulation which has been found unsuccessful and would likely be found so corruptive as tc 1 increase the demands for government l ownership.
 The democratic plan also avoids an in- crease of federal power, such as would be involved in national incorporation, and it protects the right of the state to deal as | 1t will with corporations entering tue state.
 This plan has been before the country for Il years, the principle of it having been set forth in the platforms of 1900 and 1904, as wellsas in 1908. The last platform, however. presents the plan more elabor- ately, and introduces limitations which re- lieve the smaller corporations from na- tional surveillance No other plan except that proposed in the democratic platform promises any relief to the honest business
 
 No Exact Definition We have no definition of monopoly to which a manufacturer can look for guid- ance. He knows now that he can re- strain trade in a reasonable way-the su- preme court has told him that. but each case will be decided upon it's merits, and he will not be able to learn without years of litigation just how far he can go with out being guilty of unreasonable restraint
 Is 1t not time to pay some attention to the just demands of the honest business man and relieve him from anxiety and ex- pense at the same time that the country is relieved from the constituencies depre- dations of the monopolist? Such relief Is possible. The plan embodied in the demo- cratic platform protects the honest man, restraints the corporation which attempts to control business, and does 1t without invoking any new principle.
 There is no tenable middle ground be- tween competition and government own ership. Wherever competition Is impossi- ble government ownership is necessary. the restoration of competition and prepa- ration for government ownership.
 have faith that the people. when they understand the trust question, will pre- fer to rely upon competition rather than to permit private monopolies to exist and then trust to regulation. And am glad that the Tribune is calling public atten- tion to the importance of the trust issue, which has been made acute by the Stand ard Oil and Tobacco decisions.