New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-04
PERKINS ON SHERMAN LAW
Predicts Its Failure to Meet EX.
pectations in Y. N. c. A.
FAVORS FEDERAL CONTROL
Advocates Cooperative Profit
Sharing on the Lines of the
Steel Company.

George W. Perkins told the members n
tho West Side Young Mems Christian Assoc
cistior Finance Forum las; night that the
Sherman antitrust law would never fulfil
the mission intended for It by its sup
porte-s.
What they want" said the former part
ne- or J. ?. Morgan. is 10 have some
simple little law forbidding US 70 use steam
or electricity for IL is these powers I'm the
hands of man that made our big corpora
lions"
After pointing out the tremendous ad-
vances in the worlds progress OF the last
hundred years for which he gave credit
for the most part to the inventor. the
financier said that. while the inventor had
been the means Of tho great expansion OF
business. the lawmaker had been making
strenuous efforts 10 counteract the natural
Tovth OF industry.
The attempts - man TO make laws that
will rullify the mysteries OF nature will
never succeed" he said. though he adj
mitted that the people had witnessed time
and again the most garng abuses in cor
poratious which were horn ~ great inven-
lions.
'rifdf i''l if'' tllNiiHs III ~ hllir Hoi''f
public enterprises concerning which the
people should be fully informed. and he
thought such information should come 70
the people through the federal government
by federal control
We must have federal control of great
corporations" the speaker said and laws
which will punish the man responsible for
crime and not the stockholders who are
not responsible Federal control Is feasible.
and We must have that or We will have 20
have government ownership or socialism.
M Perkins also spoke a word o. two in
favor Of the supreme business court ~
the country. an idea which he has ad-
vanced before. and said that such court
was not only feasible under orr present
laws. but necessary.
The cooperative profit-sharinE plan.
something after the manner OF the plan
% the United States Steel Company, he
advocated as a good model for big bust
ness 10 follow. and It vas not in any sense
philanthropy bur pure business
Speakers Tn the Finance Forum usual Nv
are subjected 70 mild heckling after their
addresses and Mr. Perkins was no eXcep-
lion One man was curious 20 know
whether Mr Perkins believed that men
should he held 10 one place or line NJ ON
ployment whether they wanted 10 change
or not which was the questioner's idea
NJ the working ont ~ the proft-sharins
plan. hut NJ Perkins explained that II
meant only that 2 man would not leave
one place Of employment unless he got an
offer 50 much better that n would nav him
~ foreEo the benefits % the proft-sharing
plan
Another man wanted more enlightenment
on the idea ~ p supreme court Of bust
ness. and wanted 70 know In particular
what questions such court would decide
Such questions a. now come before the
Supreme court on tho Sherman law" said
Mr. Perkins such as what Is fair and
rea sonahle' between interested comparies
II isn't thinkahle that orr large business
concerns can ever 60 hack ~ small units.
and tho idoa ~ elimination ~ competition
except in large groups must be worked out
and should ho well handled be- such court
Of business
Mr. Perkins thought that az the FONDA
tions Of our country we're laid ty men ~
affairs business men. thA reconstruction
which he believes viii follow The age Of
ruthless competition and monopoly should
he looked after hv the same kind of men,
ra-h~- than by professional politicians.