Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1911-12-08
!vIllyNES;QTA'l'.'

slWylJyIV1SN
FOR violations Of the law a. wodi1 ~
practical or wise. .,z i A rs 81.
Such bureau or commission 1nax1k
well be invested also with the duty
already referred to Of aiding courts
in the dissolution and recreattoa4
trusts within the law. It should beaR
executive tribunal Of the dignity MI
power of the comptroller of the .cuz
rency or the Interstate commerce, cons
mission. which now exercises supervise
Org power over important classes a
corporations under federal reguiat
The drafting Of such = federal ca
corporation law would offer ample up
portunity to prevent many mani6ezE
evils in corporate management today
Including responsibility Of controi &
the hands Of the few who are not Tie
real owners. :;
Incorporation Voluntary.
l recommend that the federal chat1
tiers thus to be granted shall be Rolaa-
tary, at least until experience justinse
mandatory provisions. The benefit e.
be derived from the operation at great
businesses under the protection Of such
charter would attract all who are
anxious to keep within the lines Of tt1s
law. Other large combinations th1f
fail to take advantage of the federzk
incorporation will not have a right 20
complain ii their failure is ascribed Ga
uhwillingness to submit their transae-
tons to the careful official scrutipEe
competent supervision and publicity
attendant upon the enjoyment Of suck
a charter y
Only Supplemental Legislation raeedsd4
The opportunity thus suggested ooe
federal Incorporation, it seems to me-
Is suitable constructive legisiatton
| needed to facilitate the squaring df
great industrial enterprises to the rule
Of action laid down by the antitrust
law. This statute as construed BY the
supreme court must continue to be th9
line, Of distinction. for legitimate busf-
ness. 1t must be enforced unless ~.
are to Danish individualism from an
business and reduce it to one commoE
system Of regulation or control az
prices like that which now prevails
with respect to public utilities and
which when applied to all business
would be long step toward state 50
cialism.
Importance Of tho Anti trust Act.
The antitrust act Is the expression
of the effort Of freedom loving pee
pie to preserve equality of opportunity
| It is the result Of the confident deter"
mination Of such people to maintai2
their future growth by preserving IN
controlled and unrestricted the enter
prise of the individual, his industry
his ingenuity. his intelligence and biz
Independent courage.
For twenty years or more this staH
ute has been upon the statute boot-
All knew it's general purpose and ap-
proved. Many Of its violators were
cynical over it's assumed Impotence
| It: seemed impossible Of enforcement
Slowly the mills Of the courts ground
and only gradually did the majesty az
the law assert ITSELF : Many of IT.
instrumentation died before It be-
came a living force. and they and etis
ers saw the evil grow which they had
hoped to destroy. Now its efficacy Is
seen: now its power is heavy: Aow It'll
object is near achievement Now We
hear the call for its repeal on the piee
| that It interferes with business pros
| perity, and we are advised in noGk
general terms how by some other stat
ute and in some other way The sVa
We are just stamping out can be cured
| IL we only abandon this work Of tweH-
| ty years and try another experiment.
for another term of years.
It is said that the act has not done
good. Can this be said in the face of
the effect of the Northern Securities
decree? That decree was in no way
80 drastic or inhibitive in detail a. e.
ther the Standard Oil decree or the
| tobacco decree. But did it not STOP
for all time the then powerful move
ment toward the control Of all the
! railroads Of the country in single
hand? Such one man power could
| not have been healthful influence in
the republic. even though exercised
! under, the general supervision Of an
interstate commission.
Do we desire to make such ruthless
combinations and monopolies lawful
When all energies are directed, not to-
ward the reduction of the cost OF pre-
duction for the public benefit by
healthful competition. but toward new
ways and means for making perma-
nent in a few hands the absolute con-
troll Of the conditions and prices pre-
| vailing IN the. whole neld Of industry.
then individual enterprise and effort
win be paralyzed and the spirit Of
| commercial freedom will be dead
4 $751; VIM. H. TAFT.
myh. Wh3%o uo,,oa rao; L 1O11 80