The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-20
Edison Would Regulate Mini
mum, Not Maximum Price.
Man Who Made big Business"
Possible Talks Shop.
AGAINST COMPETITION
Wizard Tells Why He Sold
Lamps Cheaper Abroad.
Says Legislation Works Out OPP
posite Effect on Trade.

New York. Dec. 2O=In the course
of Mr.. George w Perkins statement
made to the subcommittee OF the IN
terstate commerce committee OF Nhe
senate at Washington few days ago
he said that if he were called upon 10
name the one man who was respon-
sfble for moder-- economic conditions
and the creation of great com blnations
commonly called big business, ne
should say Thomas A Edison MI
Perkins, of course, used MI. EDISON >
name as typifying the marvellous in
ventfve genius which within the past
twenty years has so wonderfully mar
messed electricity as to make by us
utilization instant communications OF
intelligence between man and man, no
matter how apart physically they may
he. possible.
In some of his addresses Mr. Per
kins has said that cooperation does
not necessarily mean the complete
elimination of that kind of competition
which is heathful. stimulating and
which harms no one 1t IS best mus
traTed by the organization and opera
ton of the clearing house ASSOCIATIONS
of the United States; which are, IN
fact nothing but powerful cO-opera-
tive associations of banks: a cO-opera-
ton. however, which does not ellml-
nate a healthful competition mann
tanned bv the banks which are mem
hers of the clearing house for the 'pur-
possible.
Edison and Corporation.
nv a curious coincidence, at the very
time Mr. Perkins made use OF the
name of Thomas A Edison to typify
the inventive genius which has made
modern cooperation and combination
Inevitable. Mr.. Edison himself was
commenting upon modern Industrial
conditions The wizard" spent the
better part of a day with Mr. r. H.
Edmonds of Baltimore. who is re-
earded throughout the south as the
highest personal authority on indus
trial and economic conditions in that
region In that conversation Mr. Ed
son expressed very strongly his view
that it is absurd for legislatures or
courts 10 attempt to enforce compe-
tition. He does not believe that en-
forced competition is profitable He IS
of the opinion that if it is ever at
tempted it viii surely lead to destruc-
tive industrial and commercial war
Yet. apparently. it was the eGpecta-
ton or hope Of the department of jus
tice at Washington that by the disso-
luton of the American Tobacco and
Standard Oil companies 1t would be
possible to produce a n Industrial and
trade condition which would inevitably
result in strong competition. That is
spoken of here as not exactly enforced
competition. although it is said here
that there is very little difference be
hv the government and competition
which is actually enforced.
Competition Means Death.
AS result of his tour through
Europe last summer Mr.. Edison was
able to confirm impressions which his
experiences as an inventor and manu-
facturer had already made. He said to
Mr.. Edmonds that enforced competi- !
ton, if continued, will ultimately re- |
suit in the placing in the hands of |
few individuals OF a few very great |
corporations the Industrial interests of
the entire country. Competition is |
war" Edison says, and war means |
death to the weaker. Competition of |
this kind means that some great gen |
eral of finance or of industry will mass !
IN attack upon competitors by cutting |
prices 50 that after time he gains the |
victory over all and controls the trade |
of a country.
That is kind of competition which |
MI Edison believes should be legislat- |
ed a sainst- His own experience jus
titles him in saying that legislation to |
enforce cooperation is essential to our
business prosperity.
Fixing = Price.
If there is to be legislation which
favors cooperation. Mr. Edison is of
the opinion that it should be so word
ed as to forbid any corporation from
selling its products at less than the
cost price plus the legal rate of inter
fact. King by legislation a minimum
price. but it seems to Mr.. Edison that
this is the best way to prevent a cor
poration which receives its charter
from and is protected by the state from
carrying OF competition by means OF
cutting prices
It is observed that Mr.. Edison does
not say that a private individual should
be prOhi bited by law from selling any
article in which he deals at 4 price
less than the cost of production plus
the legal rate of interest There are
limitations in what he said to Mr..
Edmonds that he realizes that a law
of this kind would be both futile and
unconstitutional.
Mr.. Edison is strongly of the opinion
that producers should have permission
to form associations and make contracts
with each other by which they would
agree not to sell below the cost of pro-
duction including the depreciation on
the plant and the legal rate of inter !
est on production. In his opinion, |
however. these agreements should be
filed at central bureau. whether that |
be called a commission or by whatever |
name so that publicity might thereby |
be obtained
Legislation and Business.
IN the course of Mr. Edison's CON
versation with Mr.. Edmonds he spoke |
of the common effect of legislation upon |
business. saying that it had been his /
experience that nearly all legislation |
Erecting BUSINESS works out diametrf-
cally opposite to what is intended This
statement is not based by Mr.. Edison |
on mere guesswork or superficial OBJ 4
servation. He has been studying lesis-
lation upon business matters from thu |
point of view of a student, and these /
Investigations have shown him that |
nearly all of the acts of legal bodies |
are below the average intelligence of |
the least intelligent of its members
Edison told Mr.. Edmonds that this fact |
was first stated by the great philoso-
pher Herbert Spencer. anu was based
upon data which Mr.. Spencer himself |