The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1911-12-05
.or violations Of the law as would be

'or violations Of the law as would be
practical or wise.
such bureau or commission might
already referred TO OF aiding courts
Ia the dissolution and recreation Of
trusts within the law II should be an
executive tribunal OF the dignity and
power Of the comptroller OF the cur.
| rency or the interstate commerce com.
mission, which now exercises supervls-
ory power over important classes "
corporations under federal regulation.
i. Ihe drafting or such a federal In
turpdraiioh law wotild oiYer ample bli.
Fportunity 10 prevent many nInnifest
evils In corporate management today
including lrresponsibiity of conttol in
| the hands Of the few who are not the
| ceal owners
Incorporation Voluntary.
| | recommend that the federal char.
ters thus to be granted Shall be yolun-
tary, ut least until experience iustilies
mandatory provisions. The benefit TO
he derived from the operation OF great
businesses Under the protection of such
charter would attract all who are
anSions 10 Keep within the llues OF the
| law Other large combinations that
fail 10 take advantage OF the federal
| Incorporation viii not have right to
complain II their fnilurc is ascrihed 10
unwilinEnesa TO submit their transac-
tions to the careful official scrutiny
competent supervision aud publicity
attendant upon the enjoyment OF such
charter
Only Supplemental Legislation Needed.
The opportunity thus suggested for
federal incorpora don, IL seems 10 me,
s suitable constructive legislation
needed TO facilitate the sqnaring OF
great industrial enterprises TO the rnte
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. 1t must be enforced unl,-ss we
are to Danish individualism from all
business and reduce il TO one common
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.
clalsm
Importance Of the Anti. trust Act
The antitrust act is the expression
of the effort OF freedom loving peo
Pile to preserve equality Of opportunity.
1t Is the result Of the confident deter
mination OF such q people TO maintain
their future growth by preserving an
controlled and unrestricted the enter
prise OF the individual. his industry
his Ingenuity. his intelligence and lis
Independent courage
For twenty years or more this stat |
ute has been upon The statutc li35l;
All knew its general purpose ana ar- |
proved Many Of is vlolators were
cynical over IT'S assumed Impotence.
II seemed Impossible Of enforcement /
Slowly the mills Of the conrts ground. |
ana only gradually did The majesty Or
the law assert Itself Many Of its
statcSmen. died before 1t be-
came living force, aul they and 9TH
erS saw The evil grow which thcy had
hoped to destroy Now It's efficacy IL
seen; now its power Is heavy; now its
ohicct is ncar achievement. Now we
hear the call for its repeal on the plea
that il intcrferes with business pros
perity. and we are advised in most
general terms how hy some other stat
nte and in some other way the evil
we arc Just stamping ont can be cured
f we only abandon this work of TWEEN
ty years and try another experiment
for another term Of years
II IS said that the act has not done
good Can this be said in the face Of
be effect Of the Northern Securities
lecrecY That decree was in no way
70 drastic or inhihitive In detail as Of
her the Standard Oil decree or the
obaccO decree But did It not ston
or all time the then powerful move
nent toward the control Of all the
OF the country in single
land? Such one man power could
lot have been a healthful influence in
he republic, even though exercised
lnder the general supervision of an
Interstate commission
Do we desire to make such ruthless
ana monopoDns lawful?
When all energies are directed. not to-
ward the reduction OF the cost OF pro.
uction for the public benefit by a
ealthful competition, but toward new
9ays and means for making perma-
ent in few hands the absolute con.
roI Of the conditions and prices pre-
aking In the whole field Of industry,
len individual enterprise and effort
I'LL be paralyzed and the spirit OF
freedom win be dead.
WM. II. TAFT.
The White House, Dec. 3, 1911.