Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-12-06

including responsibility of control in
the hands of the few who are not the
real owners. 4
Incorporation Voluntary. i
/ recommend that the federal char
tiers thus to be granted shall be volun-
tary, at least until experience justifies
mandatory provisions. The benefit to
be derived from the operation Of great
businesses under the protection of such
a charter would attract all who are
anxious to keep within the lines of the
law. Other large combinations that
fail to take advantage of the federal
incorporation will not have right to
complain if their failure is ascribed to
unwillingness to submit their transac-
tons to the careful official scrutiny,
competent supervision and publicity
attendant upon the enjoyment of such
a charter.
Only Supplemental Legislation Needed.
The opportunity thus suggested for
federal incorporation, 1t seems to me,
is 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 be the
line of distinction for legitimate busl-
ness. 1t must be enforced unless we
are to Danish individualism from all
business and reduce it to one common
system of regulation or controi OF
prices like that which now prevails
with respect to public utilities ana
which when applied to all business
would be long step toward state So
cialism.
Importance of the Antitrust Act.
The antitrust act is the expression
of the effort of freedom loving peo-
pie to preserve equality of opportunity.
] 1t is the result OF the confident deter
mination of such people to maintain
their future growth by preserving I'm.
controlled and unrestricted the enter.
prise of the individual, his industry
his ingenuity. his intelligence and bis
| Independent courage.
/
| ute has been upon the statute book.
All knew its general purpose and ap.
proved Many of its violators were
cynical over its assumed impotence.
1t seemed impossible of enforcement
Slowly the mills of the courts ground,
and only gradually did the majesty OF
i the law assert itself. Many of its
+ AL atn1 hnfnrn n hp-
came a living force, and they and 9TH
ers saw the evil grow which they had
! hoped to destroy. Now its efficacy Is
seen; now its power is heavy; now Its
+ object is near achievement. Now we
hear the call for its repeal on the plea
that it interferes with business pros
perity, and we are advised In most
j general terms how by some other stat.
! ute and In some other way the evil
we are Just stamping out can be cured
If we only abandon this work of TWEEN
ty years and try another experiment
] for another term of years.
1t is said that the act has not done
! good. Can this be said in the face OF
i the effect of the Northern Securities
| ubGEeeI 1uuL dtaiSC was ~ ~ " ~
so drastic or inhibitive in detail as Ell
| Their the Standard Oil decree or thu
! tobacco decree. But did 1t not stoE
I for all time the then powerful move
/ ment toward the control of all the
railroads of the country in single
hand? Such one man power could
J not have been a healthful influence in
| the republic, even though exercised
under the general supervision of an
| interstate commission.
Do we desire to make such ruthless
combinations and monopolies lawful
When all energies are directed, not to-
ward the reduction of the cost of pro-
duetion for the public benefit by a
healthful competition, but toward new
ways and means for making perma.
nent-in a few hands the absolute con-
troll of the conditions and prices pre-
vailing in the whole field of industry,
then individual enterprise and effort
will be paralyzed and the spirit OF
commercial freedom will be dead.
VIM. a. TAFT.
The White House, Dec. 5, 191l