The Washington times., 1911-11-16
ROOSEVELT URGES
SQUARE DEAL FOR
THE CORPORATIONS
Wields Big Stick Again in
~ an Editorial in the
Gks. Outlook.
Continued from First Page.)

anu tettef. throughout the time that
RAD charge OF the Investigation, and
while we were in Washington. 1 do
not know Of single instance where
the Steel company refused any infor-
nation requested; but, on the contrary,
aided In every possible way our in
vestigation.
The position now taken by the Gov
ernment is absolutely destructive of
legitimate business, because they outline
no rule of conduct for business of any
magnitude. 1t is absurd to say that the
courts can lay down such rules The
most the courts can do is to find as
legal or Illegal the particular transac-
tions brought before them. Hence, after
years Of tedious litigation there would
ns no clear-cut rule for future action.
This method of procedure is dealing
with the device, not the result, and
drives business to the elaboration of
clever devices, each of which must be
tested In the courts"
Taking up analysis of the situation,
Colonsl Roosevelt finds that even with
the Tennessee properties, the Steel Cor
poration has rot more than IS to 20 per
cent OF Iron ores in the South; while in
the Lake Superior region, even after
surrendering the Great Northern lease it
stiil hns about 80 pei, cent. The absorb
ton did not really change the situation
as to ore monopoly.
Gays l1OluluSS DcCIcdScu.
As to the tendency toward monopoly,
Colonel Roosevelt points out that when
formed, tho corporation had 66 per cent
OF the total steel production Of the
country. This, instead OF growing and
bscomirg monopoly, shrank steadily
fhi In 1908 1t was IS per cent. OF the
bl.3 por cent controlled by the Steel Cor
poration, only 1.9 per cent Is from the
Tennessee properties.
Mr.. Roosevelt proceeds to defend the
antitrust policy of his Administration
1t prosecuted the Standard Oil, Tobacco
and Sugar trusts, he explains. because
these trusts had employed improper
competitive methods, were altogether
bad trusts, and could not be permitted
to proceed in a manner calculated to
give the Impression that they were
above the law.
But of the outcome of the tobacco
litigation. as formulated into the circuit
court decree In the tobacco case, Mr..
Roosevelt declares that 1.-The settlement
IN which the representatives OF the Gov
ernment seem to concur, leaves all the
companies still practically in the hands
Of the twenty-nine original defendants
Such result Is lamentable from the
standpoint of justice Surely,
miscarriage of justice is not too strong
term to apply"
Condemns Sherman Law.
Mr.. Roosevelt declares that while the
Sherman act is useful in bringing such
egregious wrongdoers as the Oil and
Tobacco trusts to terms, 1t does not
cover the field of proper regulation of
corporations that want to be honest,
to comply with the law, to do what the
public policy Of the nation designs of
them. As to restoring competition as
II once was he says: ~ -
ANY such effort Is foredoomed TO
ancCeSaf1ll-
be mischievous to the last degree. Busi-
ness cannot be successfully conducted
in accordance with the practices and
theories of sixty years ago unless we
and, in short, not only all modern
business and modern Industrial condi-
tions, but all the modern conditions Of
our civilization. The effort to restore
and to trust for justice solely to this
proposed restoration of competition, Is
Just as foolish as II we should go back
to the fintlocks OF Washington's Con-
weapons Of precision. The effort to
prohibit all combinations, good or bad,
Is bound to fail, and ought to fail;
when made. IT merely means that some
checked and that honest business is
checked.
Our purpose should be, not to
strange business as an incident of
late big corporations in thorough
going and effective fashion, so as to
help legitimate business as an incl
aaa of tse pssp
as q whole"
'It Is absurd to treat the size of a
CORPORATION as In itself a crime" de-
ciares Colonel Roosevelt further on; and
from this he proceeds to the argument
that nothing will be gained by destroy
ing big corporation simply because
Il is big. II that be its cnly offense. Not
the combination; but the wrongs com.
attack.
Plan for Regulation.
Mr.. Roosevelt declares that either the
Bureau Of Corporations, or a commits
sion not unlike the Interstate Com
merce Commission, should be given
powers in the industrial field. of super
vision. regulation. etc He adds:
We need to formulate Immediately
and definitely policy which. in deal
ing with big corporations that behave
themselves ard which contain no men,
ace save what is necessarily potential
III any corporation which is OF great
size and very well managed, shall aim
not at their destruction but at their
regulation and supervision, SO that the
Government shall control them In such
fashion os amply - safeguard the in
terests of the whole public. including
srs This control should, If necessary,
be pushed in extreme cases 10 the
point of exercising control over monop-
DIV prices, as rates on railways are
now controlled; although this Is not
q power that shCdld be used when
e Is possible to avoid 1t.
"Law Should Be Clear"
''The law should be clear. unambigu-
Sus, certain. SO that honest men may
not find that unwittingly they have
violated 1t. In short our aim should
be, not to destroy, but effectively and
in thoroughgoing fashion to regulate
and control, in the public interest, the
great instrumentalities of modern bust
ness, which 1t is destructive of the gen.
eraI welfare of the community to de-
stroy, and which nevertheless 1t is
yitaily necessary to that general well
fare TO regulate and control. Compeu-
ton will remain as very important
factor when once we have destroyed
the unfair business methods, the GRIM
inal Interference with the rights OF 9TH
ers, which alone enabled certain swol-
len combinations to crush out their
competitors-and incidentally, the con
seryativas" will do we'll to remember
that these unfair and iniquitous meth
ods by grer' master of corporate capt.
tai have Gone more to cause ponular
discontent with the propertied classes
- an tba nrations of ALL the S0nial-