The Washington times., 1911-07-26
SENATE SOON WILL
GRAPPLE PROBLEM
OF TRUST CONTROL
Investigation of Whole Ques-
tion During Recess Is
/ Probable.
FATE OF SHERMAN
LAW IN BALANCE
Next Session Likely to See Meas
ure Strengthened or
Discarded.
BY JOHN SNURE.

AS the result of the recent discussions
In the Senate Committee on Interstate
Commerce over the NewIands bill for
q commission to regulate industrial cor
porations and the discussion of the Ken
yon bill for the strengthening of the
Sherman law, along with the matters
that have arisen for consideration with
relation to such legislation, there is
practically no longer any question that
the committee will conduct important
investigations during the coming recess.
The committee will bring out a reso-
luton that will give 1t the necessary
authority to go deeply into the vast
problem OF how to control the country S
industrial corporations.
Members of the committee have been
talking about this for some time. While
no formal action has been taken, It was
declared today in authoritative quarters
that the resolution would be brought
out. 1t doubtless will pass the Senate.
The importance Of a broad investiga-
tion by the Senate Committee on Inter-
state Commerce into the problem of
how to grapple with the trust and in
dustrial corporation problem cannot we'll
be overestimated. In some respects,
such an investigation might well prove
as important as the inquiries Of the in
dustrial commission some years ago.
SculuuSul COI II.
The mere fact there is disposition in
the committee to investigate the subject
shows that Senate sentiment is getting
up to the point of dealing with the
trust problem.
Senators who talked about the matter
today said that in all likelihood unless
'tariff matters baked 1t, the coming ses-
sion would prove an important one
with respect to consideration of how to
deal with the Country's great corpora
tions.
When Senator Newlands introduced a
resolution to commit the Senate to a
, program Of important legislation this
session, following a recess on such sub
jeCts as control of corporations, control
of railroad stock and bond issues,
physical valuation OF railroads and the
like, he stirred up a situation that might
otherwise have remained fairly calm
for the time being.
1t is impossible TO forecast what leg
islation dealing with the corporations is
going to grow out of the situation which
has developed in the Senate. But the
discussions in the Interstate Commerce
Committee have shown clearly what is
going to be the most important line Of
division Of sentiment.
Fate of Sherman Law.
II is not whether there should be
regulation of the great interstate corpo-
rauons by the Government, but wheth-
or in bringing about that regulation.
the Sherman law is to be preserved and
made more drastic or wiped out. One
element in the Senate will seek to get
rid of the Sherman law. Another will
seek to make the law stronger.
The probability is that II will be
found impossible to impair the Sherman
law. When national Incorporation legis-
lation was attempted several years ago, !
the Senate Judiciary Committee insisted
the Sherman law was a good law, and
must not be weakened. Those who be-
lieve in ii and also in regulation think
the Sherman law should be kept as the
club TO crush any refractory combina |
tions or monopolies that refuse to sub
NIT to regulation or evade it.
How far to go in regulation has been |
discussed in the committee. On this |
opinions widely differ. 1t does not ap- |
pear there is much support in the COM
mittee for the idea OF price-fiXing.
Senator Cummins, who is on the In |
terstate Commerce Committee, is pre- |
pairing a bill for the control Of corpora
tions that will provide for an industrial |
commission, this commission to have |
power to regulate the capitalization of
corporations in interstate business. |
Further, 1t will provide a limitation on
the amount Of capital that may be en-
ployed in a given business. II this is
done, Senator Cummins thinks prices
would adjust themselves.