New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-10-05
PERKINS ASKS NEW LAW
TO RULE CORPORATIONS
Tells Detroit Board of Com
merCe Sherman Act Would
Strange Business.
SAYS PUBLICITY is ENOUGH
Asserts Federal Regulation SINH
lar to That of Banks and Rail
roads Would Remedy Pos
sible Trust Evils.


topic 1T Is the Function OF the Law to
Define and Punish Wrongdoing and MOI
10 Throttle Business" George ". Perkins.
OF New York. made a plea for the amend
ment Of the Sherman antitrust law. He
suggested legislation compelling fun pub
licty from corporations similar TO that re-
CURED from banks and railroads mat
Mr. Perkins said. would not mean state
socialism, government ownership. manage
ment or fixing Of prices, hut a conserving
OF the efficiency Of the great agencies Oh
trade. lie said:
one occasionally hears the opinion eX-
pressed that the people OF this country
would never consent 20 the enactment or
any legislation by which the sherman law
would be amended Two important iacts
seem 70 have been overlooked IN connection
with this matter:
First that the sherman law as IT stands
was passed by Congress without the people
ever having had an opportunity Ia, vote on
IL; second. that our people have actually
voted in favor of amending the law, lot
the Republican party. at its national con
vention IN June. 1913, adopted platoIii
which dealt largely with business questions.
The plank on trusts was as follows.
'Trusts-The Republican party passed the
Sherman antitrust law, over )em9crauc
Crauc derehct'onN II has been a Wnole-
some instrument forsEOod in the hands OF
experience has shown that its effectiveness
can be strengthened and its real objects
better attained by such amendments as VIII
gSe 10 the federal government greater SUI
IervisiOn and control over and secure
greater publicity In the management OF
that class Of corporations engaged i'm inter-
state commerce having power and oppor-
tCnity 10 effect mOnOpOlies.'
There is no mistaNng the language used.
The Republican party expressed itself as
Being in favor OF amending the sherman
sff g1c fv,1f 40
companies having power and opportunity
To- effect mouOpolies' and also clearly indl-
Gated the lines along which the law should
be amended.
The Democratic party, ~ the same time,
IN the trust plank Of its platform. among
other things declared for q policy that
would prohibit the control by manu-
featuring or trading corporation engaged
I'm interstate commerce of more than 30 per
cent of the total amount Of any product
consumed in the United States
Subject Was Fully Debated.
With these platforms the respective
parties went before the people of this coun-
try in q vigorous campaign. Each party
attacked the others platform. and the sub
lect was debated pro and con all over the
land.
one is safely within bounds in saving that
the most effective speaker in the Republi-
can cause i'm that campaign was Governor
Hughes. and equally within bounds in say
ing that the most effective speech ~ the
lvered al Youngstown. Ohio, on September
5. 1905. In that speech Governor Hughes
onalyzed the platforms Of the respectve
parties I'm 10 uncertain language Permit
me 20 quote the following from that speech:
In a desire TO correct the evils Of buSi-
ness are We 10 place an embargo upon hon
est cndeavor, whose activities present none
Of the abuses recurring remedies? And. If
not. what statutory definitions shall be
found 10 be adequate and Just if we Law
down our prohibition in terms of volume or
of
and wrong
II IS the function Of the law 10 define and
punish wrongdoing and not to throttle bust
ness. The line of progress lies not I'm ar
litrary action but I'm securing suitable pub
lefty and supervision. and by accurate
Cefnition OF wrongs and the infection Cf
proper punishment The processes of JUS
tice may boz slower and more lahorious;
hut y we desert the lines Of sober1ess and
fair play 20 get quick results through arbi-
trarN interfere noes with trade we shall find
that sucn short cuts lead Only 10 disaster "
with such platforms and after such a
submitted and. hy "a plurality Of over n
million and quarter votes. returned the
Republican party TO power I'm both the
LEGISLATIVE and executive branches.
SAYS Party Did Nothing.
J'hat did the legislative branch do TO
~ Out its beliefs "a the trust question
platform and I'm its campaign arguments?
u did nothing Tt left the question lust
where i had been for fifteen or twenty
choice cXcopt % frternrot tbe ra,c as il
stood.
And wo are now Witnessing the epecta-
Gle of Tho Republican partr not only fail
Ing T. carry out the trust plank I'm its own
platform, but actually vigorously carving
ont the trust plank Of the Democratic plat
ana which tho Ar,,.ri,e Is,,,l a., t I9 nv. ~
The cuiv yoetiga IF Eaerfrp rai+b ,,.itL
the necuIc ON ar1-.hfrg involved r., 'tLio
question and as discussed in the carnpaign
&c found in IN. SuDreroo Corrt,, r.,--,,+
trust decisions wherein The .ruie Of roa.
son" is supplied. and i'm connection with
This significant ere the following CLOSING
sentences from the Youngstown speech If
Governor Hughes for rho last vpgr % ,,,,.,,-
Der of tho SiInrer-e Courti. N~ " '''' 80
"P,It I'm orlr proeross w.. ,,,rs. cool. -
av0id false etc5e clure r,ue. L H. -
~ r~seC- -.oo, ,,.5 w i"l
eteadr9et. ,oro'tt,,, H. ,o,,,i. ll"tt.'nt anu
$1,000 Jug ur cons ACES y m
60, 49,. ~ ''e pItraliS OF IoiE.
,i,'i i.f, ~, o. srnsg ~ ,uSuce. WIN
Sberrosr Ia,, aioro tS H. 90 ,,iiui.E ne i
- HI ~, 'Iolls VIZ lihtS INDICATED IN
- =. l. ~, I.','ill lldli"I Ih IS 10 re-
Iust 10 strengthen me moral law. 90 refuse
20 utuhe ahu pIHSn "iohSd"ing; o. per
II LIoll.II!| ~ business: ana 10 min
60 'Ilt il,I.,'Cti, Hi.a liie sWilE IN com
'"'" ''''-' "'''"'i'A'
Junction , Hra-4 Eto.-t a.
INV
The question al base Is great moral
Sng Vars ~ @ s gu6fs .a6 ,n1t nTeus1t On
ways light. 20 the death If need be. on a
tncryi isSue Many people ln this country
I- Hit ''I.' sF l.d. through the granting Of
Str-idI p. VIC III various ways. sN0h as
,hIQueE ih" larlH. through concessions by
IaWs OBTAINED in."ush the improper use Of
o.uIcNE, mug 3llunes nave been dlshon-
NS-I9 oH" ".i'aii ~ fiii---tp