The river press. [volume] (Fort Benton, Mont.) 1880-current, 1911-12-06
for violations Of the law al would be

| KOr VlOlHtlOuH Oh Tue tdW ID WOuiO "
practical or wise.
Such a bureau or commission might
| well be invested also with the duty
already referred to OF aiding courts
in the dissolution and recreation Of
trusts within the law. 1t should be an
executive tribunal Of the dignity and
power Of the comptroller of the cur
rency or the interstate commerce COM
mission. which now exercises supervis-
DRY power yer important classes of
corporations under federal regulation.
The drafting of such a federal in
corporation law would offer ample op-
%portunity to prevent many manifest
evils in corporate management today.
including responsibility Of control in
the hands of the few who are not the
real owners.
Incorporation Voluntary.
recommend that the federal char
tiers thus to be granted shall be volun-
tary, at least until experience justiies
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 federal
incorporation will not have Il right to
complain it their failure is ascribed to
unwillingness to submit their transac-
lions to the careful official scrutiny.
competent supervision and publicity
attendant upon the enjoyment of such
a charter.
Only 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 as construed by the
supreme cour must continue to be the
line Of distinction for legitimate busi-
ness. 1t must be enforced unless we
are to Danish individualism from all
business and reduce it to n common
system Of regulation or control OF
prices like that which now prevails
with respect to public utilities and
which when applied to all business
would be a long step toward state So
cialism.
Importance Of the Antitrust Act.
The antitrust act is the expression
of the effort Of a freedom loving peo-
pie to preserve equality of opportunity.
1t is the result Of the confident deter
mination of such a people to maintain
their future growth by preserving I'M
controlled and unrestricted the enter
prise Of the individual. his industry,
his ingenuity. his intelligence and his
Independent courage.
For twenty years or more this stat.
ute has been upon the statute book
All knew its general purpose and ap'
proved. Many Of its violators were
cynical over it's assumed impotence
1t seemed impossible Of enforcement
: Slowly the mills Of the courts ground
4 and only gradually did the majesty Of
the law assert itself. Many of it,
, statesmen-authors died before It be
, came a living force. and they and 9th
ers saw the evil grow which they hat
hoped to destroy. Now its efficacy |!
seen; now its power Is heavy; now it
, object is near achievement. Now w
1 hear the call for its repeal on the ple'
+ that it interferes with business pros
9 perity, and we are advised in mos
q general terms how by some other stat
ute and in some other way the EVIL
we are just stamping out can be cure
IL we only abandon this work OF TWEEN
ty years and try another experimen
= for another term Of years.
It is said that the act has not don
good. Can this be said in the face o
the effect Of the Northern Securitie
decree? That decree was in no wa
- so drastic or inhibitive in detail as e
Their the Standard Oh decree or tn
g tobacco decree. But did it not sto
4, for all time the then powerful move
= ment toward the control of all tn
- railroads ~ the country In a s1ngl
. hand? Such a n man power coul
not have been a healthful influence i
the republic. even though exercise
to under the general supervision Of a
interstate commission.
Do we desire to make such ruthles
le combinations and monopolies lawful
III When all energies are directed, not t.
e ward the reduction of the cost of pr
s. duction for the public benefit by
re healthful competition, but toward ne
ve ways and mea for making perm
n nent in a few hands the absolute CO
IN troll Of the conditions and prices pr
ey vailing in the whole field of industr
be then individual enterprise and eno
in will be paralyzed and the spirit
"a. commercial freedom will be dead.
be WIN. 81. TAFT.
al The White House, Dec. 5, 1911.
le-