The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-01-12
Prominent Richmond Man
Discusses Business Con-
ditions in Country.
ROOSEVELT TO SPEAK
Secretary MacVeagh, Sena-
tors Root and Cummins
Also on Program.


world we're present today when the
eleventh annual meeting OF the nation
nj civic federation was opened here.
President Seth Low in his opening
address outlined In general the many
timely questions of national import to
he discussed by the speakers during
the three days session, the subjects
OF regulation of corporations and COM
binations, regulations OF railroads and
municipal utilities. compensation for
Industrial accidents. and arbitration
and Cancellation being well to the fore
Tho so-called new nationalism will re.
ceive attention at the conference. At
ono session there will be considered
the questions: rs the piece work,
bonus or premium system of wage
payment just. both to employers and
employees" and How successful is
profit sharing in the United States to-
day."
The scheduled speakers include
men OF such wide prominence as form
er President Theodore Roosevelt, w.
Mckenzie King. minister OF labor of
Canada: Secretary OF the Treasury
Franklin MacVeagh, Senators Root of
New York and Cummins of Iowa;
Judge Alton b. Parker. President Sam
uel Gompers of the American Fedora
ton OF Labor, Andrew Carnegie,
George r. Cortelyou, William Dudley
Foulke. August Belmont, Myron T..
Hcrrick. George W. Perkins. John
Mitchell. Samuel Untermeyer, Mel
VILE r.. ingalls,, James r. Garfield and
W. G. Brown.
Address by Foulke.
Mr.. Foulke OF Richmond. Ind, in his
address today, said In part:
At. the last Chicago conference on
trusts called by the civic federation
some two years ago. ventured to sug-
gest the following remedy "Whenev-
err a corporation Is accused Of exercis-
ing monopolistic powers. injuriously
controlling rates. driving competitors
out Of the market. preferring one set
OF customers. or one section of the
community to another. and 30 far sup
pressing competition that II can main
tain Its unjust rates and discrimina-
tons. provision should be made for a
suit to be brought before an appro-
pirate tribunal. Let the object of that
suit be, not to dissolve the corpora
ton. or to conAscate it's property.
which IL ruinous. but to declare the
corporation an Injurious monopoly
and to subject 1t for that reason to the
same governmental control as to rates
corporations are today. The time has
come to amend the Sherman law SO as
TO make the object Of that law a far
more thorough going governmental
control than at present of the corpora
tions which have acted in unreasona-
Bile restraint Of trade. 49,.
I'VE do not need to take this rene.
dy as to all corporations. Where
competition Is free. competition ia
still the best fxer of prices and regu.
lator OF conduct. but where competi.
tion Is stihed. or the power to fix arbi-
trarily the prices Of labor and com.
modities. there that power must be
limited by law and by administrative
control. just as In the case Of the SO.
called natural monopolies, like street
railways. waterworks companies, ETC.
these lines. President Roosevelt was
inclined TO distrust a remedy which
depended on the outcome OF lawsuit
and indeed the present character OF
much OF our legal machinery is SO
cumbrous and unsatisfactory that de.
lays. enormous expenditures and the
miscarriage OF justice are its frequent
accomplishments. These evils. howev.
or. are not inherent in a judicial sys.
tenn properly organized and admins.
tered. The example OF the English
law courts has demonstrated that. A
special tribunal could be created
which could dispose of these ques.
lions satisfactorily under appropriate
legislative regulation.
rafts Preference.
President Taft's preference was for
the voluntary federal incorporation of
industries concerned In interstate
commerce. Others proposed compul
sorry federal incorporation act. 9th.
ers. like Mr. Bryan. prefer federal
license for such corporations as car
ryinE on interstate commerce. and
WYNN aSiuSc SuSu hSSuSc W toIDOt'
ations conducting a business covering
more than certain percentage of the
output In given line OF industry.
None Of these alternatives seem to me
satisfactory. Voluntary interpretations
as proposed by President Taft would
be utterly futile. No great monopoly
that really needs to be regulated
would voluntarily put its head into the
moose and submit to any regulations
sufficiently drastic to prevent the pres
cnt abuses. II would sooner take its
chances under the sherman law and
II dissolved would reorganize under
new forms in such manner as to
block or cvade the proceedings taken
against n. II Is only the good
trusts" which would submit to the hal.
tor. and these are the ones which do
not need II.
Compulsory federal incorporation or
. federal license are also objectiona,
BILE. Either plan as now proposed.
goes too far In some respects and not
far enough In others. II goes too far
In requiring a license or an incorpora.
uon in all cases. including those
where competition IL free or where the
generation has conducted itself prop.