The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1911-12-09

for VIOLATIONS or the law a. wouio nc
practical or wise.
Such bureau or commission might
well be Invested also with the duty
already referred To OF aiding courts
N the dissolution and recreation OF
trusts within the law. IL should be an
executive tribunal OF the dignity aud
power OF the comptroller Of the cur.
rency or the Interstate commerce com
mission. which now exercises supervis-
ory power over important classes OF
corporations under federal regulation.
The drafting of such federal In
corporation law would offer ample op.
portunity - prevent many manifest
evils i'm corporate arrangement today
including irreSponsibility OF control In
the hands OF the few who are not the
real owners
incorporation Voluntary.
recommend that the federal char. /.
ters thus 10 be granted shall be volun-
tary. nj least until experience justihes
mandatory provisions The benefit 70
be derived from the operation of great
businesses under the protection OF such
charter would attract all who are
ANXIOUS to keep within the lines of the
law. other large combinations that
fail 10 take advantage OF the federal
incorporation viii not have right 10
complain Il their failure is ascrbed TO
unwillngness 10 submit their transac.
lions TO the careful official scrutiny.
competent supervision and publicity
attendant upon the enjoyment OF such
charter
Only Supplemental Legislation Needed
The opportunity thus suggested for
federal Incorporation. IL seems to me-
Is suitable constructive legislation
needed 10 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 court must continue TO be the
line OF distinction for legitimate bust
ness. Ii must be enforced unless we
are TO Danish individualism from all
business and reduce 1t to one common
system Of regulation or control OF
prices like that which now prevails
with respect 10 public utilities and
which when applied to all business
would be long step toward state SO
cialism
importance Of the Anti trust Act.
The antitrust act Is the expression
of the effort OF a freedom loving peo-
pie 10 preserve equality OF opportunity.
Ii is the result of the confident deter.
mination OF such people 10 maintain
their future growth 10y preserving IN.
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 know its general purpose and ap
proved Many OF its violators were
cynical over It's assumed impotence.
Ii seemed impossible OF enforcement
Slowly the mills OF the courts ground.
and only gradually did the majesty Of
the law assert itself Many OF its
RECOMMENDATIONS died before II be
came n living force. and they and 9th
ers saw tho evil grow which they had
hoped 10 destroy Now It's efficacy Ut
seen: now It's power Is heavy: now itH
object Is near achievement. Now we
hear the call for Us repeal on the plea
that II interferes with business pros.
peritv. and W. ire advised In most
general terms hnw by some other stat
ute and IN sote other way the evil
we are just str ming out can be cured
n we only aba Ton this work Of TWEEN
~ years AMI y another experiment
for another ten 81 years
II Is said IL the act has not done
good Can q be said ia the face o.
the effect OF the Northern Securities
decree? That decree was in no way
so drastic or inhibitive ia detail AS 81.
Their the STANDARD on decree or Che
tobacco decree But did Il not stop
FOR all time the then powerful move
ment toward the control Of all The
railroads OF the country IN single
hand? such "A one man power could
not have been healthful influence IN
the republic. even though exercised
under the general supervision OF an
interstate comriSsion.
DO we desire 20 make such ruthless
combinations and monopolies lawful
When all energies are directed, not TO-
ward the reduction OF The cost OF pro
duction for the public benefit by a
healthful competition. but toward new
ways and ms for making pcrma'
nent in few hands the absolute con
troll OF the conditions and prices pre-
vaillng In the whole field Of industry,
then individual enterprise and Effort
will be paralyzed and the spirit OF
commercial freedom will be dead
WI. II TAFT,
The White House. Dec. >, 1911.