The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1911-12-07

have produced nothing but elltterlng
rencralltlcs and have offered no line
of distinction or rule OF action ms defl
mite and as clear NJ that which the su
prome court itself lays down In on
forcing the statute
Supplemental Lseislstion Needed. No,
Repeal or Amendment
see no objection. and indeed can
see decided advantages, IN tho enact.
mcnt Of law which shall describe
aud denouuce methods of competition
which are unfair and are badges OF the
unlawful purpose denounced ln the
antitrust law The attempt and pur.
pose 70 suppress competitor by un.
dersellng him at price 80 unpro1ta-
Bile as 20 drive him out Of business or
the making Of exclusive contracts with
customers under whirb they are re.
quIrod 10 give mp association with 9th
or manufacturers aud numerous kin.
drod methods Tor stinIng competition
and efIcctlng monnnlly should be de.
scrlbed with sufficient nrcurncy In a
criminal statute ~ lhr one hnnd TO
enable the government 10 shorten lis
task BY prosecuting single mlsdemcan.
ors Instead of an cutlre conspiracy aud
on the other hand 20 serve the purpose
Of pointing ont more IN detail 10
the business community what must be
avoided
Federal incorporation Recommended.
In special message TO congress on
Ian. I, 1910. ventured to point out
the disturbance TO business that would
probably attend the dissolution OF these
offending trusts. said.
But such an Investigation aud pos
sibe prosecution Of corporations whose
prosperity or destruction Affects the
comfort not only OF stockholders, but
Of millions OF wage eamers, employees
and associated tradesmen. must neces
sarily tend 10 disturb the confidence
Of the business community, to dry up
the now flowing sources OF capital
from Its places of boarding aud pro
duce a halt In our present prosperity
that viii cause suffering and strained
circumstances among the innocent
many for the faults Of the guilty few,
The question which ! wish In this
message to bring clearly 10 the con
sideratlon aud discussion OF congress
IA whether. IN order 20 avoid such
possible business danger something
cannot be done by which these busi
ness combinations may be offered
means. without great dnnncni dis.
turbance, Of changing the character,
organization ana extent Of their bust.
ness into one within the lines OF the
law under federal control aud super
vision, securing compliance with the
antitrust statute
"Generally ia the Industrial combina
tlons called trusts the principal busi
ness is the sale of goods In many states
md In foreign markets-in other words,
the interstate and foreign business fur
exceeds the business done ln any one
state. This fact VIII Justify the fed
eral government IN granting a federal
charter to such q combination TO make
and sell 10 interstate aud foreign com
merce the products OF useful manufae'
ture under such limitations as will sc
cure d compliance with the antitrust
law II is possible 50 10 frame stat
ute thar, while It offers protection 10
federal company against harmful, yex
ntious and unnecessary invasion by the
states. It shall subject II 70 reasona
bic taxation and control by the stntes
with respect 10 It's purely local bust
ness $50
Corporations organized under this
net should be prohibited from aequif
iug and holding stock 10 other corpo
ratlons except for special reasons
upon approval by the proper federal
thus avoiding tho creation
under national auspices OF tho holding
with subordinate corporations
in diffprent states. which has been
such aD effective. agency IN tho crea'
don of the great trusts and monopo
lies
N The prohibition Of The antitrust
act against combinations IN restraint
0f trade s 20 be effectively enforced
IL is essential that the national govern
ment sbatl provide for the creation Of
national corporations 10 carry on le
gitimate business throughout the Unit
ed States The conflicting laws of tbs
different states " abe Union with re
spect to foreign corporations make y
dinc0i. II not impossible. for one cor
porntl9u 70 comply With their require
ments ~ rs 10 carfy on business In
number ~ different states"
/ renew the recommendation Of the
~ general law providing
for the voluntary formation Of cor
pomtous TO engage III rnde and com
merce among the states and with for
elen nations Every argument which
was then advanced fof such law and
every explanation which was az thai
Time offered 70 possible objections has
been confirmed by our experience since
.he enforcement " the antitrust stat
lte has resulted IA the actual dissoli.
Ilon og active commercial organiza.
.ions
II ls even more manifest now than
K Was theB that the deuuhciatlon Of
III restraint of trade
s09uld Dot and does NOT mean the Dc
lii " organizations large enough 10
.e intrusiel With our interstate and
'oreigh iyadr Il has been made more
'ieaf b0w than is was then that q
urely BegBtiYe sfAtnis like the anti
rust law may well BE- supplemented
y stecine provisions f0f the building
~ aud regulation u iegiilmats na'
iouai ana foreign commerce