The Julesburg grit-advocate., 1911-12-14

for violations Of the Law n wosA ~
practica; or wise.
Such a bureau or commission 0iGhoi
well be invested also with the duty
already referred to Of aiding courts
in the dissolution and recreation Of
trusts within the law. 1t should be N
executive tribunal of the dignity and
power of the comptroller Of the cur;
rency or the interstate commerce co0-
mission, which now exercises supesvis-
ory pOwer over important classes ef
CORPORATIONS under federal regulation
The drafting of such q federal In
corporation law would offer ample o.
portunity to prevent many manifest
evils in corporate management today.
including responsibility Of control In
the hands OF the few who are not ths
real owners.
incorporation Voluntary.
recommend that the federal char
tiers thus to lie granted shall be voluD-
tary, at least until experience justices
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 the
law. Other large combinations that
fail to take advantage OF the federal
incorporation will not have a right to
complain if their failure is ascribed to
unwillingness to submit their transac-
tions to the careful Official scrutiny.
competent supervision and publicity
attendant upon the enjoyment Of such
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 busi-
ness. 1t must be enforced unless We
are to Danish individualism from all
business and reduce it to one common
system of regulation or control OF
with respect to public utilities and
! which when applied to all business
would be long step toward state So
cialism.
Importance Of the Anti trust Act.
The antitrust act is the expression
of the effort of a freedom loving peo-
pie to preserve equality of opportunity.
II is the result Of tie confident deter
mination OF such a people to maintain
their future growth by preserving IN
controlled and unrestricted the enter
prise Of the individual. his industry.
his ingenuity. his intelligence and his
independent courage.
F"" twenty years or more this stat
ute has been upon the statute book.
All knew its general purpose and ap-
proved. Many OF its v:olators 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
the law assert ITSELF Many Of it,
siatcsmen-authors died before It be-
came living force. and they and 9TH
/ crs saw the evil grow whici, 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 intcrfcrcs with business pros
perity. and we are advised in most
| general terms how by some other stat
Utc and In some other way the evil
we are just stamping out can be cured
IL we only abandon tl.is work Of TWEEN
IS years and try another experiment
for another term Of years.
1t is said that the act has mol done
good. Can this be said in the face Of
the effect Of the Northern Securities
decree? That decree was In no way
so drastic or inhibitive in detail as Ell
;her the Standard Oil decree or the
tobacco decree But did 1t not stop
for all time the then powerful move
,nent toward the control OF all the
railroads Of the country in n single
hand? Such one man power could
not have been n healthful influence in
tho republic. even though exercised
under the general supervision Of an
interstate commission.
Do We desire to make sucn ruthless
combinations and monopolies lawfulp
When all energies are directed, not to-
ward the reduction of the cost Of prO-
luction for the public benefit by a
heathful competition. but toward new
ways and means for making pcrma-
! neat in few hands the absolute con-
; troll OF the conditions and prices pro
railinc in the whole field Of industry,
then individual enterprise and effort
will be paralyzed and the spirit Of
commercial freedom will be dead.
WM. H. TAFT.
The White House. Dec. 5, 1911.