The Washington times., 1911-05-16
THE STANDARD OIL DECIS.
ION.


far-reaching Importance have erel
been handed down by the Supreme
Court than that of yesterday, in the
Standard Oil case. The business oi
the country has been largely stalled
waiting this decision. 1t has hung
over us for more than two years, and
the great corporations have not
known, until today, that it was pos,
sible for them to 60 on and do bust.
ness as legal concerns under the Sher-
man act.
This Standard Oil decision makes it
perfectly clear that the size of the
corporation has no bearing on its
legality. Its acts alone determine its
legality. In other words, if a corpor-
alton, however big, conducts business
with proper regard to the interests of
the people, and with rational consider
alton for competitors, its right to
exist and do business is made clear
by this ruling of the highest legal
authority in the land. 1t is now up
to the corporations to square them
selves to the Supreme Courts de-
cisions and to make sure that they are
we'll within the lines of safety.
This decision, therefore, points the
way to a resumption of business and
clarifies the situation to such an ex.
tent that any well-minded corporation
ought to have no further concern about
its future. By well-minded, we mean
the management that intends to do
business as it should do business, as
it would wish a competitor to do by it
if it were occupying less powerful
position in its field.
AS to the decision against the Stan
dsrd Oil Corporation itself, that is Of
lesser Importance. The general prin-
ciples laid down are the great, broad
thing. In the very nature
of the case, the Standard Oil Company
can square itself to the same con-
ditions that make it possible for other
to do business. Just how
this will be brought about is of little
matter. 1t may involve the formation
of another organization, and perhaps
under a new name, to take over the
assets of the Standard Oil Company.
That a corporation dealing in oil
products and keeping well within the
limits of the law has as much right
to do business as one dealing in any
other commodity is an obvious GER
tainty.
The Times believes that this decision
will result in renewed activity for the
business of, the country. The under
lying conditions are all favorable for
progress. Our banks are overloaded
with money, and they are loaning at
abnormally cheap rates. The money
condition, therefore, as a foundation
for business activity, is better than at
any time in many years.
The crop outlook for this year is
most promising, and though we may
have droughts in one section or an
other, yet it is safe to conclude that
the aggregate of our varied crops is
bound to be enormous. Every year
we know better how to till the soil,
and we know better how to meet
drought and other conditions that
have hitherto worked to the detriment
of the crops.
Moreover we have ninety-fve millions
of people that must be housed, and
fed, and clothed, and shod, and trans
ported, and entertained. This is a
mighty big business in itself, busi-
ness so big, so vast that it will re-
quire at least so per cent of the capac-
ity of our industries to do this work.
Business throughout Europe is run
ming at high pressure, and the con-
ditions here are favorable for first
rate prosperity. While not looking
or hoping for a too sudden bounding
forward, The Times nevertheless has
ample confidence that we shall, from
now on, increase our business activi-
ties, and that the improved pace will
gather momentum as the remaining
months of 1911 record themselves.
That the year as a whole will make
up a satisfactory average is reason
bly, certain.