The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-14
BUSINESS BRAKES
ARE TIGHTLY SET
Capital in This Country Is Con
tracing Instead Of
Expanding.
SHERMAN LAW is FEARED
George w. Perkins Has Cure"
Which He Relates to
Committee.

Washington, D. c.. December 10
George W. Perkins. hnancier and direc-
tor OF the United States Steel corpo-
ration who occupied the witness stand
practically all of to-day. discussed
with members OF the Senate Committee
on Interstate Commerce his ideas Of
how commission could meet the bus
mess situation. and was subjected to a
running fire of questions by members
OF the committee. He said that the
practical way to give the country's
big business" relief from existing I'M
certainty and depression would be to
create In the Commerce and Lah Dor De-
rartmcnt business court Or control
ling commission. with the power to
license corporations doing interstate
or international business. Violations
Of regulations laid down by such a COM
mission. he urged. should be punisha ple
by Imprisonment of individuals, rather
than by revocation Of licenses.
MIR. Perkins said this commission or
court should be composed largely of
experienced business men, Ability ID
comply with conditions laid down BY
Congress In creating the commission
and with regulations prescribed by the
commission itself. he declared. should
be the test of IN applicant for license
publicity both before and after licens-
Ing should be tho essential feature of
these regulations. and every company
should be required to secure the ap-
prevail by the commission of all Its
affairs, from capitalization to business
practice.
Mr. Perkins suggested that In the
beginning only broad principles be laid
down, with view to celebrating and
perfecting them as conditions require.
After proposing this plan for imme-
date relief, Mr. Perkins offered another
for prospective relief" This contem-
plated the appointment by the House
and Senate of committee to make a
careful study Of the Sherman law ana
the various suggestions that have been
| made regarding It's appeal. amendment
and amplttication. and TO report on the
wisdom and practicability Of a national
incorporation act.
Any one familiar with present bus
mess conditions in this country. both
as to domestic and foreign trade" said
Mr.. Perkins. realizes that the brakes
arc on. We are not expanding our
domestic trade to the extent we should.
New enterprises are not being under
taken az freely as thy should be. Cap
ital in this country Is contracting
rathr than expanding Its operations,
while Germany, Canada and other coun-
tries arc forging ahead with their in
dustrinl plans. The reason for this
attitude on our part arises largely from
the fear engendered by the prosecution
under the Sherman act. At the pres
cnt time the business mans complaint
Is that he does not know when he Is
right or when he Is wrong; that this
apparently cannot be known until ne
is prosecuted and his case reaches the
court. and that as matters now stand
he does not and cannot know as he
proceeds with his business whether he
is good citizen or a criminal"
He declared in conclusion that i'm
mediate relief la clearly desira BILE, il
such relief can be provided along con-
sentative lines