The Fargo forum and daily republican., 1911-12-05


for violations Of the Iaw as xpuuAa bN
practical or wise.
Such q bur6an or eo1uuzhzafUn Ml2a&#
well be invested also with the duxyf
already referred 70 OF aiding ecurHa
In the dissolution and Fecreaeson na
trusts within the law. u Should be aun
executive tribunal Of ths diamaty ana
power Of the comptroller Of the cur
rency or the interstate commerce com
Gission. which now exercises supeFvts-
CRY power ever important classes of
corporations under federal regulation.
The drafting Of such q federal In
corporation law would offer ample op-
poFtunity 10 prevent many manifest
evils in corporate management today,
includinR irresponsibility Of control In
the hands oe the few who ara mot the
real owners
incorporation Voluntary. 8
recommend that the federal char.
ters thus to be granted shall be volun-
tary, at least until experience 1ustifies
mandatory provisions. The benefit to
be derived from the operation of great
businesses under the protection of such
charter would attract all who are
anxious to keep within the lines Of ths
law. Other large combinations that
fail 10 take advantage Of the federal
incorporation viii not have a right to
complain If their failure Ia ascribed to
unwlllingness 10 submit their transae-
lions to the careful Official scrutiny.
competent supervision and publicity
attendant upon the enjoyment Of such
a charter.
Only Supplemental LeGisiEtlon Needed.
The opportunity thus suggested for
federal incorporation, IT seems to me,
g suitable constructive legislation
needed to facilitate the squaring Of
great Industrial enterprises to the rule
Of action laid down by the antitrust
law. This statute as construed by the
supreme court must continue TO De the
line Of distinction for legitimate busi-
ness. It must be enforced unless we
are to banish individualism from all
business and reduce it to one common
system OF regulation or control Of
prices like that which now prevails
with respect to public utilities and
which when applied to al business
would be q long step toward state So
ciahsm.
Importance Of ths Antitrust Aee.
The antitrust act is the expression
Of the effort Of a freedom loving peo-
pie 70 preserve equality Of opportunity.
It Is the result Of the confident deter
mination Of such q people 30 maintain
their future growth by preserving uD-
controlled and unrestricted the enter
prise OF the individual. his industry.
his ingenuity. his intelligence and his
Independent courage. slg
For twenty years or more tits sthE-
ute has been upon the statute book,
ALI knew its general purpose and ap-
proved. Many Of its violators were
cynical over It's assumed importance
II seemed impossible OF enforcement
Slowly the mills OF the courts ground
and only gradually did the majesty OF
the law assert itself. Many Of its
stateamen-authors died before IL be-
came a living force. and they and oth-
ers saw the evii grow which they bad
hoped to destroy. Now its efficacy 10
seen; now its power h heavy; now it's
object iH near achievement. Now we
hear the call for IT'S repeal On the plea
that ii interferes with business pros
DeFfty, and we are advised tn most
general terms how by some other stat
ute and In some other way the evil
we are just stamping out can be cured
II we only abandon this work OF twen-
ty years and try another experiment.
for another term OF years, E
It Is said that the act has not dVue
good. Can this DO said TN the face OF
the effect Of the Northern Securities
decree? That decree was In no way
80 drastic or inhibitivs in detail as et-i
ther the Standard on decree or tie
tobacco decree. But did It not stop
for all time the then powerful n0ove-
ment toward the c0ntrol Of an the
railroads Of the country In . single
hand? Such q one man power e0uld
not have been healthful influence IN
the republic. even though exeFeise&
under the general supervision Of an
interstate commission.
Do we desire to make such ruthless
combinations and monopohes lawful
When all energies are directed, not to-
ward the reduction Of the cost Of psso-
duct1on for the public benefit By q
heakthfnl competition. but toward new
ways and means for making perma-
nent I'm few hands the absolute e0n@
troll Of the conditions and prices pro-
vailing in the whole Geld Of industry
then individual enterprise and ef6Oet
win be- paralyzed and the spirit O<
commercial freedom win be dead
wM- II. TAFT. Fl
The White HOUSE. Dec. 8 10AA