The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1911-08-31
THE CRIMINAL ASPECT
Of THE SHERMAN LAW
WILLIAM HORNBLOW Err SPEAKS
ON ANTITRUST LEGISLA-
TION AND LITIGATION.
Declares Sweeping Penal Provisions
of Sherman Law are Jnwise
and Unjust-Should Be
Limited.
Associated Press Special.

| Associated Press Special.
Boston, August 31.--A protest
again further experiments in dras-
tic Legislation" against bushes in
terests was voiced by William B
| Hornblower of New York in an adj
dress on Antitrust Legislation
and Litigation" at last nights ses-
J sion of the annual meeting of the
| American Bar association Mr..
Hornblower declared that the Sher-
man antitrust law failed to com
| ply with what he considered the
requisites of a proper statute.
This statute, he said, never
has been and never can be literally
and strictly applied To SO apply it
would produce chaos in the business
| world The statute must be applied
| not according to its language but &C
| cording to it's reasonable meaning,
/ or else it becomes the instrument of
| injustice and ruin to the mercan-
tile community.
There is a point at which COM
| petition becomes the death of trade
| Undue competition may lead to
monopoly while a reasonable regula-
ton or reasonable agreement be
tween the competitors may prevent
monopoly. Prohibition of all COM
bnations and of all restraint of
trade is unwise. Civilization means
cooperation; cooperation means
combination; combination means re-
straint of competition
Touching of the criminal aspect
of the Sherman Law, Mr. Hornblow-
er said
Public opinion appears now to
be clamoring for victims. 1t is not
satisfied with damages or injunc-
tons or possible receiverships, but
of individuals is loudly
called for. Protests are even made
against mere pecuniary fines, Act
ual Imprisonment of the offenders
is demanded.
For myself, ! do not hesitate to
say that the sweeping penal provis-
ions of this law are unwise and un-
Just, and should be made more limit
ed in their scope and much more
definite and certain. Acts of moral
] i . Z - ! / L I -
turpitude II pTOP-i4 :. ul-,Ii1n - -
vance. may well be made criminal.
Such acts Of moral turpitude are,
for instance, the use of unfair means
to suppress competition and crush
out rivals, and agreements with
competitors to raise prices or to re
strict production To make re
straint of trade criminal, prospect
i've of its character and purposes and
IRRESPECTIVE of the methods pursued
to accomplish the restraint, is to
punish alike the intentional maletac-
tor and the honorable and upright
business man who has been guilty
only of a technical violation OF
prohibitory law"
Another suggestion has been re-
| Gently exploited and has the support
| of able advocates, namely, the crea-
| ton by the federal government OF a
| commission or a number of commits
sions who shall have power to regu-
late prices of articles of Interstate
commerce. To my mind, this is an
appalling suggestion. Nothing short
of omniscence can enable such a
commission to perform its wors
with intelligence and with safety t.
the best interests of producer anf
consumer
Il believe that the Sherman Law
as interpreted and enforced by thu
supreme court is quite adequate, 50
far at least, as civil remedies ar
concerned, to meet any further at
tempts at dangerous aggregations o
capital"