The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-19

can. perhaps. send some men to the
st SnittsSn,,ary for creating aE these com
cost of production and given you most
or your foreign trade and much of
g sohr Pp pr sp but what are you
the plant. and tho organization? You
can conhscate 1t and ruin your coun-
Try by panic. but you can't divide
nent parts again. for the lines of di-
vision have disappeared into COM
mon ownership
The court has met the issue and the
queries presented by the doubters and
the sconers. 1t has indicated the
MAJESTY OF the law. has illustrated the
| wonderful elasticity and adapta bilitv
OF remedy 10y Injunction in equity. and
has a the same time manifested due
regard for the welfare of the innocent
business men and the community at
large. who. in cHtaclySm caused by
me confiscaion of such enormous capt
tai as are involved in these combina-
mate part of their business. would DC
buried with them in common ruin.
The court has exhibited courage
IN racing the necessary results in en-
| forcing the statute that. instead of
prompting an attack on it, ought to
riake every American proud that we
nave such tribunal. 1t Is now en-
torcinH its decree against the Stand
ara OIL Company and against the To-
bacco Company, and it is making
those great combinations divide them
under UGH provisions in the decree
that an Injunction shall be constant
iH operative to prevent by contempt
proceedings any assumption OF the
old relations of monopoly This was
an easier matter In reference to the
standard Oil Company. because it was
panics that were united by the own
erhip of stock of the companies in a
single holding company.
| Tobacco Case Difficult.
IN h..
and 1t will be necessary to separate
inc properties owned By single com
panie .s,.i ana 70 distribute these plants
in order to create competition between
them and maintain that competition By
the power of continuing injunction
AGAINST any future union. or any
agreement to avoid future competi-
ton. 1t needed these two great de-
cisions to teach the business public
nunai OF this country would the claim
he listened to. that Ill this day and
eeneration we have passed beyond the
possibility Of fret competition as con-
sistent with proper business growth.
or that we have reached time when
only regulated monopoly and the fiN-
ity are consistent with future prog
ress: We did get along with com
Petition; we can get along with 1t.
WI did get along without monopoly;
business men of this country must
square themselves to that necessity.
Either that. or we must proceed to
ment with power to run every bust
ness. The decision of the Supreme
Court Is In the highest interest Of
that business men who have been
violating the trust law are now being
made to see the necessity for putting
their houses in order, changing their.
| he
idea that 1t is necessary to control
markets in order to make profits. and
competition. III which all limit upon
1t to prevent its being excessive must
be self-imposed BY the good sense of
each competitor and not by any ar
rangement or contract between COM
petitors or secret stipulation or wink
or nod
The decision of the Supreme cour;
as 1t grows TO be understood in the
near future will be a signal for the
voluntary breaking up all combina-
tons In restraint of trade within the
hope. lead to q complete revulsion OF
feeling on the part OF the business
men of this country and to clear
understanding by them of the iimitu-
tions that must be imposed by them
upon any business combina lions made
by them i'll the future. Tlso operation
Of the statute has Illustrated the slow
ness of judicial procedure. and OF this
have often made complaint; but In
the settlement of issues of this i'm
portance two decades are no great
we shall have stamped out an evil
which would certainly have carried
us to socialism as reaction from the
spent, the effort, and the litigat ton are
worth the cost. There have been
times when among others 1 have
law might have been facilitated had
the courts visited its breach with Sc
verer punishment, but Though the
mills Of the gods grind slowly. yet
out the severity that some of us urg-
ed and would have been glad to see
used, revolution in business meth.
DDS where they have heretofore been
violative of the statute will be &C
complished. and with least disturb
ance to business which Is lawful.
In q special message on the sub
gress 81 nrnsts 1870 sad to Con-
1t is the duty and the purpose OF
the Executive to direct an investiga-
ton by the Department OF Justice.
into the history, organlza ton. and
purposes OF all the Industrial com
panies with respect to which there is
that they have been organized for a
purpose. and are conducting business
on plan which is in violation of the
antitrust law. The work is a heavy
of the Department of Justice II SUI
ficient funds are furnished to carry
on the Investigations and to pay the
counsel engaged in the work.
wish to repeat this now. and to
say further that the Attorney Gen
eral has instituted Investigations into
all the industrial companies above de-
scribed, and that these are I'm various
stages of completion. I am glad to
be able to add that II Congress shall
continue needed appropriations. every
trust OF any size that violates the sta
tute will before the end of this adj
ministration in 1913. be brought into
court to meet and acquIesce in a de-