New-York tribune., 1911-10-29
The Oceans of Argument That
Have Been Poured Out
Upon the Sherman
Law Are Still
Rolling.


vt is scarcely believable. remembering
the oceans of arguments and eNplana-
tions that have deluged the subject
but the sherman law is only seven hundred
words Ions Still further. it is as lucid an
example of English a. can be found inside
or outside Of a statute book. Every sen
tence is understandable. There is Vigor IN
the eight short sections. Obscuriiy there Is
none.
This bin. # lt becomes law op-
serNcd senator George q. Vest brilhan'
lawyer and a far-sishted man. when the
measure was being debated IN Congress
must go through the crucible of a legal
criticism which will avail itself of the high
est lesal talent throughout the entire
Union. II will so through furnace not
seven times but seventy-seNen times
heated"
The prophecy was fulhred. Nevertheless
the law stands just as it was written
Nothing haS been added, nothing changed
since its enactment. one hundred judges
have passed upon its language and its
lrincipIes II has come more than once TO
the supreme Court of the United states.
Millions Of words have rainod down like
bullets for its utter destruction. \ million
dollars. perhaps. has been spent TO cripple
its provisions SOME Of the greatest busi-
ness experts political economists ana
statesmen i'm the country have declared It
10 bo unworkable and have pleaded and
argued for its alteration. Sometimes they
have threatened. but the law endures. just
as George r. Hoar. the senator from Mas
sachusetts. phrased il and loaded it for big
game
The words restraint" monopoly and
commerce" have been submitted again ami
auain 20 judicial inquiry and mterpreta-
ron. The law I'm its entirety and its parts
hoo-ever. was as simple and direct as was
tho plain man who gave IT form in Ian
ruaao There were nc long sentences TO be
divided into clauses and put against one
another in contradiction. The purpose in
mind was never confused by any awkward
ness o,f expression. Intent was as clear as
sunlight-uusts. combinations and conspir-
acics IN restraint Of trade were unlawful
Men connected herewith were guilty Of
misde,neanors. No more and no less. And
80 tte, battle Of the lawyers was mostly
fought over definitions. What was COM
mcr,c and what was monopoly and what
constituted restraint in the meaning OF the
statute?
unreasonable" aud undue are no
where 10 be found IN the law Restraint
is restraint pure and simple. y "monop-
oIV" isl monopoly. Commerce means
commerce and not something else. IN
rcasona Ule" undue qualifying and miti-
eating adjectiyes. were read into the instru-
ment by judicial elucdation and the au-
,hority Cor explanation OF, possibly for
modification. Even so the statute is long
enough and strong enough TO reach the
standard oil Company. capital 800 O00,O 600,
and the American Tobacco Company capi-
tai slSOO00.O00, not including bonds. both
of which are being dissolved under the eye
of George W. Wickersham. the Attorney
General or The United States
The sherman law was signed by PreSi-
dent Benjamin Harrison on July .. 1880. On
that daN. II can he said. began the struggle
between the government and what has
since been called big business" 10 main
tain. on the one hand. and 10 break down,
ON the other hand. the ancient law Of sup
ply ana dcmand-of competition. in short
as practised until recently since the Ameri-
can colonies became an independent nation.
There is It large and important group of
manufacturers. railway owners and inan-
GERS who SAY that competition is the death
of trade and not it's life. and that it has
ceased TO he operative. although il is still
vencrated as a theory in some learned and
respectable quarters. Judge Ebert II.
Gary. the chief officer of the billion dollar
Steel Corporation. is the head professor in
the new school of political economy and in
dustrial science.
we shall have periods of manufacturing
fnd commercial depression" he once told
me. hut in my judgment. no more years
Of absolute paralysis such as began, for
Instance. in 1898. business is much better