The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1911-09-07
ADEQUATE IS
SHERMAN LAW
AS TREATED
By the United States Su,
preme Court Declares
Hornblower.
CLAMoR INJURIOUS
Penal Clauses of the Anti
Trust Law Are Unwise
He Says.

boSIoS, Aug. 31-A protest
against further experiments in
drastic legislation" against business
interests was voiced by William B.
Hornblower, OF New York, in an ad-
dress on Antitrust Legislation and
Litigation" at last nights session Of
the annual meeting of the American
Bar Association. Mr.. HprnbloweI
declared that the Sherman antitrust
law failed to comply 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 il
would produce chaos in the business
world. The statute must be applied
not according to its language but ac,
cording to its reasonable meaning
or else it becomes the instrument OF
injustice and ruin to the mercantile
community.
There is point at which com.
petition becomes the death Of trade
Undue competition may lead to mo.
nopoly while a reasonable regula.
tion or reasonable agreement be.
tween the competitors may prevent
monopoly. Prohibition of all com.
binations and of all restraint Of
trade is unwise. Civilization means
cooperation; cooperation means
combination; combination means re.
straint of competition"
Touching the criminal aspect
of the Sherman law, Mr.. Horn
blower said:
Public opinion appears now ID
be clamoring for victims. 1t is not
satisfied with damages or injunc,
lions or possible receiverships, but
punishment of individuals is loudly
called for. Protests are even made
against mere pecuniary fines. Actual
imprisonment of the offenders is de.
manded.
"For myself, I do not hesitate 70
say that the sweeping penal pro,
visions of this law are unwise and
unjust, and should be made more
limited in their scope and much
more definite and certain. Acts OF
moral turpitude, if properly defined
in advance, may we'll be made crimi-
nal. Such acts of moral turpitude
are, for instance, the use of unfair
means to suppress competition and
to crush out rivals, and agreements
with competitors to raise or to re-
strict production. To make re
straint of trade criminal irrespec-
tive of its character and purpose and
irrespective of the methods pursued
to accomplish the restraint, is TO
punish alike the intentional male
factor and the honorable and up
right man who has been guilty only
of technical violation of a prohib-
tory 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 number of COM
missions who shall have power 10
regulate prices of articles of inter-
state commerce. To my mind, this
lis an appalling suggestion. Nothing
short of omiscence can enable such
commission to perform its work
with intelligence and with safety to
the best interests of producer and
consumer.
az believe that the Sherman law
as interpreted and enforced by the
supreme court is quite adequate, SO
far, at least, as civil remedies are
concerned, to meet any further at,
tempts at dangerous aggregations OF
capital"