The Bridgeport evening farmer., 1911-11-21
DOUGLAS WOULD LICENSE GREAT
 CORPORATIONS
Sherman Law a Menace to Business and Should Be
 Repealed, He Says
Declares People Should Be Shown that Great Organi-
 cations Are Necessary

zations Are Necessary Brockton, Nov. 21-Ex-Gov. William L. Douglas clearly expressed his views upon the questions which are at present foremost in the public mind. The shoe manufacturer who has done as much if not more than any other individual to make Massa- chusetts footwear known throughout the world, believes that the Sherman antitrust law should be repealed, and that in it's stead there should be created system for licensing great business corporations.
 MT. Douglas says that a new bank ing and currency system also is urg- ently needed, such a system as has been recommended by the commits sion appointed by Congress which has investigated all the banking systems of the civilized world. MT. Douglas considers the tariff really secon- dary consideration although he fa- vors an equitable scale of duties, to be adjusted as occasion may require by a permanent board which should be made as independent of political influences as is the United States Su- preme court.
 Finally MT, Douglas is of the opin- ion that in order to remove prejudice from the minds of multitudes of peo- pie and give the public accurate in- forma tion as to the causes of busi- ness unrest and the remedies there for, the manufacturers and great ln- dustrial leaders of the country should organize and systematically go about the work of showing what is neces- sary to establish business upon a. substantial foundation There is a eth har side,'' he added, lin what is common ly called the progressive movement.
 WHERE THE PUBLIC STANDS tinued, "the public generally does not know what are the causes of busi- ness unrest, nor what is being done Or undone by the prosecution of great corporations by the government Many in both the great parties are stand for the initiative and referen- dunn, for direct primaries and for the election of United States Senators by direct vote. In the same spirit they come to the question of the operation of the Sherman law.
 But as a matter of fact labor has been more steadily employed and at higher wages since the organization of the great corporations than when business was done on the smaller scale of 25 years ago. The business of my own company would be much smaller if it were not a corporation. But the stock of this concern is own not incorporated it could not do the large business it now does. It is so with all corporations. People need to learn that corporations should be en- couraged and considered more valu- able to all than private individuals business can be.
 HAVE COME TO STAY
 Large business organizations have come to stay. We cannot go back to competition. Large concerns can produce goods at lower cost than small ones. Germany favors large corporations. The method of the pres ent national administration is to dis solve the great organizations and make them smaller, which is a backward step There should be no limit to a corporation doing a large and legi- timate business, such as would be possible under the licensing plan which I favor.
 "Prejudices against corporations merely because they are big, per haps must be done away with. They give labor better returns They cheap en product and thus benefit the con- sumer.. They give opportunities to small investors who get returns oth- erwise 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. l do not believe we have any use for the sherman law. It has been a men, ace to business ever since proSecu- tions under it were begun by the gov- ernment Tn it's place there should vt, af ochi hi,,cr n n 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 it could not be misunderstood. It should require yearly statements should be given to the public and certified by public accoutant There should be, a board of examiners in each state to look after these corpora tions just as our national banks are watched by the have the right to enter the offices and examine the records of all the di- rectorates of these companies.
 PENALTY FORFEITURE
 OF LICENSE. ply 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 1t would not be necessary to carry on any more prosecutions. I believe our business men throughout the country intend to do an honest business, but they are puzzled as to what they can do le- gally They want to know what is lawful. The licensing system would leave no antiquities to bewilder them.
 Some may say that they believe in national Incorporation. I say mo- because I believe in state rights and that the corporations should be in- corporated by the states as heretofore and that the money received should go to the states rather than to the United States. A license is all that is necessary. Such system would es- tablish confidence in the business world and to-day the business world is dis couraged. Business men lack conf1- dence in our lawmakers
 ''The first thing for the lawmakers to do is to try to re-establish that confidence and to start business on a prosperous era and that can be done, and rapidly, if they take up these questions and adopt correct solutions
 "As to the needed new banking and currency system: The commission ap- pointed by Congress has investigated all over the world sand picked out what it believes to be best for the United States. All it has found that is good it has put together to make what it deems the best banking and