The Topeka state journal., 1911-09-29

ger of their recurrence in the future
If vigilance is abated, and that moth
ing but such regulation will secure the
compliance with the law that the pub
lie insists on having. That regulation
J is not restrictive of wide discretion in
railroad management, and there is and
ought to be sufficient scope for enter
prise, for close economies in the busi-
ness of the common carrier, and for
the securing of reasonable profit for
the shareholders, to make the railroad
business as great g field as ever for
business genius. All reforms have not
been secured in railroad management.
This takes time Many rates are still
unreasonable or discriminating; but
the point am making is that we now
have effective and i'm partial machinery
in the present organization and power
of the commission for effecting those
legislation.
AS to the Trusts.
Second With respect to the trusts.
I have elsewhere given my view OF
what the decision of the Eupreme court
is It in effect declares that the anti
trust statute Furnishes every combina-
tion or restraint of interstate trade
that is intended and has the necessary
effect to control prices, exclude COM
petition, and establish a partial or
complete monopoly of any interstate
trade in any merchandise, and that
offending combination or corporation
which will lead to disintegration of
that combination, if found unlawful,
and a division of it into a sufficient
number of parts under separate owner
ship to insure competition and to
maintain it by the continuing force of
perpetual injunction against the re-
sumption of the unlawful bond and
purpose of the combiners. Whether it
will be possible to secure a national
Of - ri
vision of those corporations engaged in
interstate trade, and for their greater
security when they pursue business in
accordance with law, I am unable to
say, because the constitutional views of
the present majority in the lower
house are presumably against the in
crease of the Federal function with re-
spect to corporations Be that as it
may, the business community now
knows, or ought to know, where it
that competition is impossible under
modern business conditions, but it
insists that it must be given full oppor
tunity for operation, and that any
combined effort affecting interstate
trade looking to its suppression is con-
trary to law In other words, busi-
ness must face the necessity of throw
ing away the crutch of combination
against competition in its further pro-
gress When this rule is recognized,
Tended the law are disintegrated sufi-
ciently to enable comp petition to have
full play then there is no reason why
business should not go on unhampered. |
Criticism has been uttered in no
tone against the activity of
the Department of Justice in the insti-
tuition of prosecutions and bills of
equity under the antitrust law, on the
ground that il is hurting business. It |
is the sworn duty of the executive to |
1rr1r T077c n n
com binations exist and are known to |
exist to the law officers of the govern !
ment in any way they would be lack |
ing in their duty if they did not prose- |
cute them. They are under my orders |
to treat the prosecution of trusts like |
the bringing of any other suits which |
are within the scope and duty of the |
Department of Justice, and must de-
cline to admit that there is any dis
cretion which would enable the attor- |
ney general and his assistants to stay
the hand of the government in respect |
of such violations of law. I do not
think it need be long continued, be
cause believe that the business COM
effect of the decisions of the supreme
court, and that we may expect a revo-
luton of feeling on the attitude of
business men toward this step.
I have heard the severest criticism,
from men engaged in business, of the
argue with them, because don't un
derstand how their position can be
in the slightest. They seem
to think that there ought to be some
making legal the control of
and limited monopoly, l.
some statute enacted which shall es-
Eablish a line between those monop-
olies that are reasonable and those
that are not-those that are benevol-
ant and those that are unconscion-
able. No such line is possible, and the
court has expressly so decid-
I'd. Mourning over a condition which
is inevitable is useless, and until they
realize that their views in this regard
must be radically changed their com
plants must fall upon deaf ears.
The European Way.
have seen arguments based upon
the attitude of foreign governments
toward great enterprises in which it is
pointed out that they have encouraged,
fondled. and protected combinations of
his character. That is true. There is
l tendency among some foreign gov
arnm ents to encourage what they call
trusts, to take part themselves in the
of the trusts, to fix prices,
and to depend upon governmental con-