The Idaho Springs siftings-news., 1911-12-09

| definite and as clear as that wnlcn tns
| Supreme court Itself lays down In en-
forcing the statute.
Supplemental Legislation Needeo-Nos
Repeal or Amendment.
see no objection-and indeed can
see decided advantages-in the enact
ment of law which shall describe and
denounce methods OF competition'
which are unfair and are badges OF the
unlawful purpose denounced IN tne
| antitrust law. The attempt and pur-
pose to suppress a competitor by un-
| dersellfng him at a price 80 unpront-
able as to drive him out OF business
or the making Of exclusive contracts
with customers under which they are
required to give up association WIN
other manufacturerA and numerous
kindred methods for sitting compeu-
ton and effecting monopoly. should be
described with sufncient accuracy In
criminal statute on the one hand 10
enable the government to shorten its
task by prosecuting single misde
meanors instead OF an entire con
spiracy. and, on the other hand. to
serve the purpose OF pointing out
more In detail to the business com
munity what must be avoided.
| Federal Incorporation Recommended.
In a special message to congress
on January Z. 1910. ventured to
point out the disturbance to business
| that would probably attend the disso-
luton OF these Offending trusts.
said:
But such an Investigation and pos
sible prosecution of corporations
whose prosperity or destruction anects
| the comfort not only of stockholders
| but of millions OF wage earners. en-
| ployes, and associated tradesmen must
necessarily tend to disturb the con-
| fidence OF the business community.
| to dry up the now flowing sources OF
| capital from its places OF boarding,
| and produce a halt in our present
| prosperity that will cause suffering
and strained circumstances among
! the innocence many for the faults OF
| the guilty few. The question which
l wish in this message to bring clear
ly to the consideration and discus
sion Of congress is whether. in order
to avoid such a possible business
| danger. something cannot be done by
which these business combinations
| may be offered a means, without great
| financial disturbance, of changing the
| character. organization. and extent OF
their business into one within the
| lines Of the law under federal control
and supervision. securing compliance
| with the antitrust statute.
Generally, in the Industrial COM
| binations called Trusts the prin-
cipal business is the sale Of goods in
in other words, the interstate and for
eign business far exceeds the busi-
| ness done in any one state. This
| fact will Justify the federal govern
ment in granting a federal charter
to such combination to make and
| sell in interstate and foreign COM
merce the products OF useful manu-
facture under such limitations as will
| secure a compliance with the anti
trust law. 1t is possible SO to frame
statute that while it offers protec-
| ton to a federal company against
| harmful. veXatious. and unnecessary
| invasion by the states, it shall sub
| ject 1t to reasonable taxation and
control by the states with respect to
| Its purely local business.
| Corporations organized under this
act should be prohibited from ac-
quiring and holding stock in other
corporations Except for special rea-
sons. upon approval by the proper
federal authority, thus avoiding the
creation under national auspices Of tho
holding company with subordinate
| corporations in different states, which
has been such an effective agency in
the creation of the great trusts and
monopolies.
III the prohibition Of the antitrust
act against combinations in restraint
Of trade is to be effectively enforced.
1t is essential that the national gov
eminent shall provide for the creation
of national corporations to carry on .
legitimate business throughout the
United States The conflicting laws Of
the different states OF the Union with
respect to foreign corporations makes
It difficult. II not impossible. for one
corporation to comply with their re-
| quirements SO as to carry on business
in a number of different states"
| renew the recommendation Of the
enactment OF a general law providing
for the voluntary formation Of cor
porations to engage in trade and COM
merce among the states and with for
eign nations. Every argument which
was then advanced for such a law,
and every explanation which was at
that time offered to possible objec-
tions. have been confirmed by our ex-
perience since the enforcement Of
the antitrust statute has resulted in
the actual dissolution of active COM
mercial organizations.