The Detroit times., 1911-11-22
THINKS LICENSES WOULD
SOLVE TRUST PROBLEM
w. l.. Douglas Believes Sherman
Law a Menace and Ought
To BE Repealed.


William l.. Douglas has clearly ex'
pressed hfs views upon the questions
which are at present foremost In the
public mind. He believes that the
sherman antitrust law should be re-
pealed, and that i'm It's stead there
should be created a system for lcehs'
ing great business corporations.
Mr. Douglas says that a new Dahh-
ing and currency system also Is
urgently needed. such system as mas
been recommended by the commission
appointed by congress which has III.
vestigated all the banking systems oil
the civilized world. Mr.. Douglas con-
sders the tariff really a SECONDARY
consideration. although he faVors az
equitable scale OF duties, 10 De au
justed as occasion may require py
permanent board which should De
made as independent of political IN
fluences as is the United States SUI
preme court.
Finally Mr.. Douglas is of the opin-
ion that in order TO remove preluulce
from the minds of multitudes OF peo-
pie and give the public accurate IN
formation as to the causes OF Dusi-
negs unrest and the remedies there
for, the manufacturers and great IN
dustrial leaders OF the country should
organize and systematically go about
the work OF showing what is neces-
sary to establish business upon SUD
stantial foundation
Large business organizations have
come TO stay" he said, we cannot
90 back TO old conditions. We must
meet world competition. Large con-
Germs can produce goods at lower cost
than small ones. Germany favors
large corporations. The method or
the present national administration is
to dissolve the great organizations
and make them smaller, which Is a
backward step. There should be no
limit 10 a corporation doing large
and legitimate business, such as
wodld be possible under the licensing
plan whichsl favor.
"Prejudices against corporations
merely because they are big. per
haps, must be done away with. They
give labor better returns. They
cheaper product and thus benefit the
consumer. They give opportunities
.
otherwise unattainable. They employ
able young men who have no capital
at all, but who receive handsome sal
aries for their ability and service.
Now as to this licensing plan.
do not believe We have any use for
the Sherman law II has been men
ace 10 business ever since prosecu-
tions under it were begun by the gov
eminent In its place there should
be department at Washington to
grant licenses TO all manufacturers
and corporations in this country who
DO an interstate commerce business,
THE law should be made so clear,
plain and definite that il could not be
misunderstood. II should require all
capital 10 be paid in full Semi-yearly
statements should be given to the
public. and certified by public ac-
countant There should be a board
OF examiners in each state TO look
after these corporations just as our
national banks are watched by the
national government. They should
have the right to enter the Offices and
examine the records OF all the dl'
rectorates of these companies.
The penalty for failure TO comply
with the terms of the license should
be the forfeiture OF the license itself,
that Is, the closing up of the business.
Under such a law IL would not be
necessary to carry on any more prose
cutions believe our business men
throughout the country intend to do
an honest business, but they are
puzzled as to what they can do. legal
ly They want to know what is law
full The licensing system would
leave no antiquities TO bewilder
them