River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1911-12-07
Incorporation Voluntary.

Incorporation Voluntary.
l recommend that the federal char
tiers thus to be granted shall be volun-
tary, at least until experience justif1es
mandatory provisions. The benefit to
be derived from the operation of great
businesses under the protection OF
such a 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 fed
eral Incorporation will not have
right to complain if their failure Is
ascribed to unwillingness to submit
their transactions to the careful scru-
tiny, competent supervision and pub
licity attendant upon the enjoyment
of such charter.
Supplemental Legislation Needed.
The opportunity thus suggested for
federal Incorporation, it seems to me,
is suitable constructive legislation
needed to facilitate the sQuaring OF
great industrial enterprises to the rule
Of action laid down by the antitrust
law. This statute is construed by
the Supreme court must continue to
be the line of distinction for legiti-
mate business. 1t must be enforced,
unless we are to Danish individualism
from all business and reduce 1t to one
common system OF regulation or con-
troll of prices like that which now pre-
walls with respect to public utilities,
and which when applied to all bust
ness would be long step toward state
socialism.
Importance Of the Antitrust Act.
The antitrust act is the expression
Of the effort Of freedom-loving peo-
pie to preserve equality of opportun-
ity It is the result of the confident
determination of such people to
maintain their future growth by pre-
serving uncontrolled and unrestricted
the enterprise of the individual, his.
ingenuity, his intelligence and his In
dependent courage.
For twenty years or more this stat
ute has been upon the statute book.
All knew of its general purpose and
anproved. Many of its viofators were
cynical over its assumed impotence.
It seemed impossible of enforce
ment. Slowly the mills Of the courts
ground, and only gradually did the ma
iesty of the law assert itself Many
of its Instrumentation died before II
became a living force, and they and
others saw the evil grow which they
had hoped to destroy. Now, it's eff.
cacy is seen; now It's power is heavy;
now it's object is near achievement.
Now we hear the call for its repeal on
the plea that it interferes with Dusi-
ness prosperity, and we are advised In
most general terms how, by some
other statute and in some other way.
the evil we are just stamping out can
be cured. If we only abandon this work
of twenty years and try another ex.
periment 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 so dras-
tic or inhibitive in detail az either the
Standard Oil decree or the tobacco de
cree; but did 1t not stop for all time
the then powerful movement toward
the control of all the railroads OF the
country In single hand?
Such a one-man power could not
have been a healthful instance In the
republic. even though exercised under
the general supervision OF an inter
state commission.
Do we desire to make such ruthless
combinations and monopclies lawful
When all energies are directed, moi
toward the reduction of the cost o.
production for the public benefit by
healthful competition. but toward new
ways and means for making perma
nent in a few hands the absolute con
trol of the conditions and prices pre-
IL 6nld nf industry