Polk County observer. (Monmouth, Polk County, Or.) 1888-1927, 1911-12-05


Such a bureau or comm,ss,.
well be invested also with &
already referred to of aidIr,'
in the dissolution and roorass "
trusts within the law. 1t shors
executive tribunal of the dion'.l Y
power Of the comptroller of "
rency or the interstate commorss
mission, which now exercises ~ T. Y
ory power over important cl.s,'
corporations under federal reonIss.
The drafting of such a fed.s'' !
corporation law would offer oms'
portunity to prevent many n IVY
evils in corporate managemont aA y
including irresponsibility OF coD,..
the hands of the few who ara J., /
real owners.
incorporation VOLUNTARY
I recommend that the federal Il
ters thus to be granted shall ba ~
tary, at least until experience in,4sI
mandatory provisions. The beuas
be derived from the operation ot =
businesses under the protection i N
a charter would attract all VII, Y
anxious to keep within the lines II
law. Other large Combination M
fail to take advantage Of the f0aJ
Incorporation will not have A rgbt /
complain If their failure is ascribSl
unwillingness to submit their tan,|
tions to the careful official scrs.
competent supervision and mbNSI
attendant upon the enjoyment q, !,
a charter.
Only Supplemental Legislation N..s|
The opportunity thus suggested h
federal incorporation, it seems 4 \
is suitable constructive legIshs
needed to facilitate the souaru,
great industrial enterprises to te 4
of action laid down by the anHtu
law. This statute as construed bvt
court must continue to Mi
line of distinction for Legitimate hi
ness. 1t must be enforced unless
are to Danish individuaIism from
business and reduce it to one CONN
system of regulation or contp
prices like that which now Dpu
with respect to public utilities n
which when applied to all bwhs
would be a long step toward state
cialism.
Importance of the Anti-trust All 4
The antitrust act is the express
Of the effort of freedom loving
Dle to preserve equality of opportu
It is the result of the confident al
nination of such a people to maut
heir future growth by preserving
and unrestricted the a
prise of the individual. his indHS
MS ingenuity, his intelligence and
Independent courage.
For twenty years or more this
lte has been upon the statute h
All knew its general purpose and
proved. Many of its viOlatOT
cynical over its assumed impda
t seemed impossible of enfOrcea
Slowly the mills of the courts GuH
md only gradually did the majeV
he law assert itself. Many Of
tatesmen-authOrs died before i
anne a living force. and they and
RS saw the evil grow which they
loped to destroy. Now its efcaq
cen: now its power Is heavy nov
biect is near achievement Nov
ear the call for its repeal on The
hat it interferes with business p
Ierity. and we are advised in Q
eneral terms how by some other s
tie and in some other way the
ye are just stamping out can be co
we only abandon this work Of Y
Y years and try another expenn
Or another term of years.
1t is said that the act has not .
ood. Can this be said in the iaa
ne effect of the Northern Secull
That decree was in %
} drastic or inhibitive in detail
Ter the Standard Oil decree q
,bacco decree. But did it moi
)r all time the then powerful
tent toward the control OF al
lilroads Of the country in
and? Such a one man power
ot have been a healthful inhuen
lie republic. even though e1a
nder the general supervisor
terstate commission.
Do we desire to make such ruu
and monopolies NV
hen all energies are directed
ard the reduction Of the cost o.
ictiOn for the public bench
faithful competition. but toWaN
avs and means for making
mt in a few hands the abs0iuE
ol of the conditions and pree
.iling i'm the whole field Of i.'.
en- individual enterprise ana
III be paralyzed and the si,'
freedom viii be deaa
wAL d. TAI
The White House, Dec. ., lsil