New-York tribune., 1911-12-14
GIVES A REMEDY
Advocates a Business Court 10
Relieve Present Ills.
FOR FEDERAL LICENSES
Steel Man Tells Senators lndl-
viduals Should Be Imprisoned
if Law Is Broken.

viduals Should Be Imprisoned
if Law Is Broken.
washington. Dec l3-George ". Perkins
fnancier and director OF the United states
steel Corporation. told the Senate Inter
state Commerce Committee to-day that thc
practical way to give tho countrys DIE
business relief from existing uncertainty
and depression would be to create IN the
Department Of Commerce and Labor
business court. or controlling commission
with mower 10 license corporations doing
interstate or International business. VIOLA
tion of regulations laid down by such
commission. he urged, should be punish
able by imprisonment OF individuals Ia'hcr
than by revocation Of licenses
Mr. Perkins said this commission or court
should be composed largely Of experienced
business mon. Ability to comply with con-
ditions laid down by Congress in creating
the commission and with regulations pre-
scribed by the commission itself, nc &c
clarcd should be the tcst Of an applicant
for license Publicity both before and after
licensing should be the essential feature OF
these regulations. and every company
should bo required 10 secure tho approNai
bv the commission OF all It's affairs, from
Capitalization 10 business practice. MI
Perkins suggested that in the beginning
only broad principles be laid down with
view to Celebrating and perfecting them
as conditions require.
Plan for prospective Relief"
After proposing this plan for immediate
relief. Mr. Perkins offered another Tor
"brospoctivc relief" This contemplated
the appointmcnt by tho House and Senate
Of commission to MAKE a careful study
Of the sherman law and the various sug-
cestions that have been made regarding its
ro5caI amendment ana ampllhcaton. and
TO report on the wisdom and practicability
of national incorporation act. Mr.. Per
kns said:
ANY one familiar with present business
conditions I'm this country, both as 10 90
nestle and foreign trade, realizes that the
brakes are ON. We are not expanding our
domestic trade TO the extent we shoulu'
New cntorprises arc not being undertdkcn
as Freely as they should be. Capital in this
country is contracting rather than OK
panGing its operations. while GerIna!I'
Canada and other countries are forging
ahead with their industrial plans. Inc
largely from the fear cngendered 10y tne
prosecutions under the Sherman act. AZ
the present time the business man COM
plaint is that he does not know when he
is rl-ht or when he is wrong: that this ap-
parantlv cannot he known until lie is prose-
cutcd aud his case reaches the court, and
that as matters now stand, he does not
aud cannot know as he proceeds with his
business whether he is good citizen or a
criminal
Serious a. this phase OF the situation
| 4 s1..tW IL
NIT ourselves TO a permanent national
policy until such commitment can he made
IN calm. dispassionatc frame OF mind,
the people having had ample opportunity
10 weigh the pros and cons Of the case.
While this Is true, immediate relef iS
clearly desirable. II such relief can be pro-
yidod along conservative lines
: We are now collecting taxes from cor
pora tions. which I'm itself is the FIRST step
In establishing the principle Of publicity
| between corporations and Sovernment. II
ought not to he un0ise or difficult there
| fore. Immediately to expand the powers or
| the Department OF Commerce and Labor,
with regard to publicity and control, suffi-
! cieutly TO create board of control with
| power 10 license such Interstate COM
| paues as. in the Judgment Of such board.
arc clearly working for and not against
! public interest
In other words I'm such cases substitute
4 board Of this sort for long drawn ont
| lawsuits. This would have the immediate
| effect of placing any company able 10 Sc
cure. such license in position where it
| would know that II was proceeding along
| lines not in violation Of national laws or
| federal authority. such concerns ss could
! not or did not wish 10 meet this test would
| then have no right 10 complain II they
| were proceeded against under the Sher-
man law.
In this manner immediate relief could
/ be provided. At the same time the ques-
| tions surrounding the Sherman law and
| national Incorporation for interstate indus
! trial companies would be under an inves-
! tigatlon that would he proceeding. in a
reaching ultimately permanent solution
/ Of tho whole question.
Meanwhile uncertainty would be dis
! pclled. vel VIC would only be building M
our present Department Of Commerce and
| Labor and bureau ~ corporations into
| live. vital bureau--much I'm the same wav
! that VIC gradually built mp the Interstate
| Commerce Commission by extending and
enlarcing lis movers from time TO time.
Twittcd by Senator Capp.
! Senator Cummius remarked that the do
sire was 10 illuminate" what Mr. Perkins
| had referred 10 as the twilight zone" in
| corporation regulation. Mr.. Perkins said a
| commission might avoid complicated and
prolonged lawsuits and meet varying con-
dtions generally better than under the
present system. lie dwelt upon the moral
| aspects OF the question at issue" where
upon Senator Clapp observed that two
/ didn't hear much about that until the
courts began to interfere with the business
combinations Mr.. Perkins responded
/ that the business mon had kept their noses
| too close to the Grindstonc 10 attend to
much outside detail
! Mr. Perkins occupied the witness stand
all day, discussing his ideas Of how COM
mission could meet the business sltus ton
and was subjected 10 a running 1re Of
! questions by members OF the committed
Asked by Senator Nixon why he left the
/ banking firm Of J. p. Morgan & Co.. Mr.
/ Perkins said that he had never figured on
! becoming a very rich man; that he had
made 4 thorough study OF the intricate de-
J tails Of banking during his membership in