New-York tribune., 1911-11-11
SNEERS At SHERMAN LAW
Whitridge Says Monopoly Has
Done Much Good Work.
BUSINESS CONGRESS HERE
Perkins Asserts Washington Is
Headquarters Of Talk, but
Work Is Done in New York.

Work Is Done in New York.
The Sherman law was thoroughly dis
sected last night al the annual dinner OF
the Academy Of Political Science held at
the Hotel Astor, and although the Attorney
General Of the United States. designated.
along with F,lbert ". Gary. of the steel
trust under the heading guests Of honor.
was not present much OF the oratory and
argument OF the evening was directed at
him.
Professor Henry r. Scagcr, Of Columbia
University. was the only speaker who had
the temerity to stand mp for the much
abused statute. and the cudgels for the
other side of the argument were welded in
turn by Roberts Walker. general counsel Of
the Chicago. Rock island e. Pacific Railway
Company: George w. Perkins and Fred
erick W. Whitrdge
The last named man hadn't a word OF
sympathy for tho antitrust law. and the
miIdest thing he could say about IL was
that il was self-contradictory and imprac-
ticabe. The trend Of all industrialism,
said Mr.. Whitridge. was toward comblna-
tion. and this law said we must have COM
petition whether we liked II or not He
protested against the grand jury investiga- %
tions Of industrial combinations saving that
their activities contravened the principles
Of the Bill of Rights. and. finally. he he
vailed what he said was the fact that the
requirements of his work in connection with
sherman law proceedings had robbed Mr.
Wickersham of his sense of humor.
As substitute Mr.. Whitridge recon-
mended the Combines Investigation act
recently put upon the Canadian statute
books
The sherman law is a quack medicine"
he said: regulation by the government,
wise. disinterested and dispassionate ell
tity, is an alluring thought. but remember
that the government speaks through indi-
viduals. When the people in this country
come to consider the symptoms Of illness
in the body polite. they rush for a rom
edy State regulation is being prescribed
in large doses Take. II you will, but do
not believe that It is cure-al''
Mr.. Whtridge thought that the people
have not been candid with themselves, and
an instance cited the report that FIVE
Southern Governors met recently 10 see
what could be done to get better prices for
cotton. Transferring It TO the argument
of the consumer. he explained that these
Governors were meeting solely 10 increase
the price Of cotton.
There YOU have what the Supreme
Court calls conscious wrongdong'" he
said, 'and through all the discussion runs
the assumption that combinations which
tend to monopoly are dangerous and
wrong. ] believe the fact to be that every
successful combination has lowered prices,
and on the whole benefited mankind"
New York's Responsibility was the sub
ject assigned to Mr.. Perkins and he ham
died it by the comparative method of Iik-
ening the financial powers of New York
to the Congress in Washington. Each
body, he said. represented the people Of
the country. but the politicians had fol-
lowed the plan Of keeping the people adj
vised of their every step. - recon-
mended the same plan to the financial DOW
ers of New York. which. as he analyzed
them. consisted almost entirely Of mon
from other parts of the country.
"The former" said Mr. Perkins. referring
10 the Congress i'm Washington. has
worked little and talked much. The latter
referring then TO what he termed the
business congress" OF New York; has
worked much and talked little"
big business as Mr.. Perkins persona
fed it. should welcome and not repel fed
eral efforts TO unearth wrOngdoing and
set up a higher standard of moral worth.
People feel that the business congress has
been arrogant and selfish, and If New York
wants financial supremacy IT can only re-
tain It by cooperating with the people
and by giving them due consideration.
Business men owe it to the country TO
speak out and present their side Nf the
questions before the people, he said. '"Tho
country's corporations are on trial before
the federal government. and New York
business methods are on trial before the
country
Roberts Walker, who was put on the
programme in place Of the late Robert
Mather. thought that the "grandfathcrly
hand of government had been too much
in evidence in connection with the railroad
affairs of the country"
There has been too much Of aiming al
shining mark" said Mr.. Walker 1--WE
have been repressive. and not constructive
The government attempts TO regulate rail-
roads, and now tobacco steel and other
great Industries: why not farming"
The governments chief duty 10 business
according TO Mr.. Walker, would be 10 af-
ford police protection. and at the most
regulate all business alike. and none too
much"
Professor Seagor called attention 10 the
fact that The Sherman law was enacted
twenty-one years ago. Replying TO the
aphorlsm credited to ]. PierDont Morgan,
that the recent trust decisions were like
an order to a cook to unscramble the eggs
Professor Seager said that the government
might Justly say:
"Gentemen, YOU scrambled those eggs
after Congress told you not to-
In the present administration. consisting
as he described u. Of a Republican Presi-
dent. divided Senate and q Democratic
House. thCre was little prospect Of reliev-
ing legislation, but when the time arrived
for such relief, he hoped the lawmakers
would study the policy OF Germany. a poi
icy. said Professor SeaEer, Of wise regula-
ton and of publicity.
Professor Samuel McCune Lindsay. the
presiding officer. and John Hays Hammond
were the other speakers.
sCuN NJAkINF CND MINDNED