Devils Lake weekly world. (Devils Lake, N.D.) 1911-1914, 1911-12-08
Tor violation. Of the h Law a would IS

Tor violations Of the law a. would IS,
practical or wise.
Such 4 bureau or commission might.
we'll be invested also with the duty,
already referred to Of aiding courts.
In the dissolution and recreation OF
trusts within the law. 1t should bs an
executive tribunal Of the dignity and
power Of the comptroller Of the cur
rency or the interstate commerce COM
mission. which now exercises supervis-
cry power over important classes Of
corporations under federal regulation.
The drafting of such federal In
corporation law would offer ample OPP
portunity to prevent many manifest
! evils in corporate management today,
including responsibility Of control In
the hands Of the few who are not the
real owners.
incorporation Voluntary.
I recommend that the federal char
tiers thus to be granted shall be volun-
tary, at least until experience justifies
mandatory provisions. The benefit to
be derived from the operation Of great
businesses under the protection Of such
charter would attract all who are
anxious to keep within the lines OF the
law. Other large combinations that
fail to take advantage Of the federal
| Incorporation will not have right to,
complain If their failure Is ascribed to-
ko khn} t,n
lions to the careful official scrutiny.
competent supervision and publicity
attendant upon the enjoyment Of such
q charter.
Only Supplemental Legislation Needed.
The opportunity thus suggested for
federal Incorporation, it seems to me.
q suitable constructive legislation
needed to facilitate the squaring Of
great industrial enterprises to the rule
Of action laid down by the anti-trust
law. This statute as construed br
supreme court must continu. t ..s
line of distinction to- - . 70 10 Tue
neaa n mus. legitimate bust
49, :. &c be enforced unless We
A' " Danish fndividualism from all
business and reduce it to one common
! system Of regulation or control Of
prices like that which now prevails
with respect to public utilities and
which when applied to all business.
would be long step toward state So
cialism.
Importance Of the Antl.t Act.
The antitrust act Is the expression
Of the effort of freedom loving peo-
pie to preserve equality Of opportunity.
1t Is the result Of the confident deter
mination of such a people to maintain
their future growth by preserving un-
controlled and unrestricted the enter
prise Of the Individual, his industry,
his ingenuity, his intelligence and his
, Independent courage.
For twenty years or more this stat
ute has been upon the statute book.
All knew its general purpose and ap-
proved. Many of Its vioIators were
cynical over its assumed impotence.
1t seemed impossible of enforcement.
Slowly the mills Of the courts ground,
and only gradually did the majesty Of
the law assert itself. Many Of its.
statesmen~authors died before 1t be-
came living force. and they and 9TH
ers saw the evil grow which they had
hoped to destroy. Now its efficacy To-
seen; now it's power Is heavy; now its
object is near achievement Now we
hear the call for it's repeal on the plea
that 1t interferes with business pros
perity, and we are advised in most
general terms how by some other stat
ute and In some other way the evil.
We are just stamping out can be cured
II we only abandon this work Of TWEEN
ty years and try another experiment
for another term Of years.
1t 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
20 drastic or inhibitive in detail - d.
Their the Standard OIL decree OF 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 q 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 Sssa
Do we desiresto make, such ruthless.
combinations and monopolies lawful
When all energies are directed, not to-
ward the reduction Of the cost OF pro-
duction fer the public benefit BY q.
healthful competition. but toward new
ways and means for making perma-
nent in 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 o6
! commercial freedom will be dead.
VIM. Il. TAFT.
Tho White House, Dec. 8, 1911.
Got Free Lecture.