The Elk Mountain pilot., 1911-07-27
WOULD CONTROL
CORPORATIONS
W1CkERSHAM 0AVo GOVERN.
MENT SHOULD REGULATE
INDUSTRlGS.
SHOULD FIX PRICES
LAW OF SUPPLY AND DEMAND
shoULp WORK WITHOUT
REeTRAillT.

Duluth. Minn.-In his address be-
fore the Minnesota Bar Association.
Attorney General Wickersham de-
clared that a government commission
to regulate great Industrial organiza-
tions in the same way that the Inter
railways was desirable and might be
necessary.
Mr.. Wickersham's speech was little
short OF sensational In many OF its
features. He declared that 1t was =
matter Of serious consideration wheth.
er 1t would be practical to give the
proposed Interstate Corporation Com
mission the power to fix prices.
Many of Mr. Wickersham's declare
tons were the most radical he has
made since his entrance into official
life. There was nothing in the
speech. however. to indicate how far
the attorney general reflected the
views Of President Taft
THAT some further regulation ove'
corporations carrying on commerce
said Mr.. wickersham. "is coming to
be . matter Of current comment. II
has been openly advocated quite re-
Gently by representatives of some OF
the largest combinations of capital.
probably as a means OF salvation. and
TO preserve. under government super.
vision. great organizations whose con-
tinued existence is menaced by the
recent Interpretation OF the Sherman
act. the disinteEration of which would
be necessarily attended with much
loss.
But there are other reasons 70:
such regulation. The federal depart.
ment OF justice is not organized or
equipped to maintain constant super
vision and control over business or
ganisations. 1t deals only with cases
of violation OF the law. The activities
Of an administrative board or commits.
sion would be directed to preventing
such violations. and in aiding busi-
ness men to maintain q continued
status Of harmony with the require
ments Of law.
whether such a federal industrial
commission should have power to regu.
late prices is \ matter OF serious con-
sideration. The interstate commerce
law prescribes that prices for trans
portation by rail or wire or pipe line.
shall be reasolah'e, and that no un-
Just discrimins shall be made be-
tween individuz or localities similar
ly situated.
I'VE have become accustomed to
the regulation OF rates Of transporta-
tion. but the suggestion that prices of
commodities be regulated by Con-
Eress seems novel and radical. Yet.
the principle on which the regulation
OF transportation rates Is based is
simply that when property is used
in . manner to make II OF public con-
sequence and affect the community at
large, 1t becomes clothed with a public
use. and may be controlled by the pub
lie for the common good.
The conduct of the great commerce
on staple articles among the states is
becoming a matter of public conse-
Quence, and the courts have upheld
legislation regulating 1t and prescrib-
ing some Of the conditions under
which 1t may be carried on. To re-
quire as one of these conditions that
prices must be reasonable, only in
wolves a new application of the same
principle.
THE antitrust legislation of the
United States and most Of the separate
states is based on the theory that the
natural price of article is that fixed
by the operation of the natural law of
supply and demand, working without
artificial restraint. But the law of
supply and demand does not and has
not for many years worked in this
country in natural, unrestrained and
unfettered manner.