New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-31
WASHINGTON

~ 40 tho, Capitalization which tncN !
a,, a.. essential IN commercial progress
are now asking where great pus'heS9 ~
Germs are 10 turn for relief. A''e'''o" y
called however. 10 the Tact that IN Id' -
,,e,sure this question was ans"sI'u "'
President Taft In his special message VI
January. 1910. in which he asked VI" ca
nest consideration Of Congress Tor sche"'e
~ federal incorporation. SO clearl! III" '"e
President foresec. as j. SHOWN v! we"
message the ultimate result OF tne anu
trust litieation that II is reasohau' -
sun,ption that he perceived WIN eiudi ior-
siobt the dilemma in which the great co"- .
mercisI concerns OF tho country Woulo Iiiu
Themselves when that litigation was COM
Melted That unrestricted competition may /
load IN price cutting and INSTRUMENTATION III
hv.i,oss 70 an extent which VIII seriously !
;ni,,re Ia hor and menace prosperity - hsru'! /
denied nv thinking men. nder such cllcn"'- !
stances. il IL believed. those VINO nave VIZ
,elfare of the country at heart VIII nalu- |
ro,v turn TO some scheme of rcsrlcten
co,nneti,ion. conducted under sucn measure
Of federal supervision as viii safeguard N"
consumer from extortion and the producer !
from ruino,is competition. Such Plan ~
&c believed. can he worked ont Of the prop /
ositlon Of President Taft to provide Tor
system of federal incorporation. And 1t is
further pointed ont that without some sucn :
system American manufacturers VIII find !
themselves al serious Disadvantages when
forced 10 enter the foreign trade and com /
nete with the government encouraged trusts
NJ Germany and those OF Great Britain ana I
Francc. which are entirely unhampered
Secretary Naqel before he assumed The
portfolio OF Commerce and Labor urged
such svptem. and somewhat startled hi7
legal hearers by expressing the belief that
I'm time the federal government could Offer
such incorporation with she assurance that
those who submitted 10 its restrictions
could re assured Of protection from state
laws which often approximate persecution
4 DEMOCRATIC VIEW.-While i was
10 lie expected that inspired by the old
fetish OF state rights. the Democrats
would strenuously oppose such ? Scn"n'e
Of federal incorporation. and while there |
are some Democrats as there are some m
surgent Republicans. who are disposed 10
find fault with the reasonable construction
given 10 the Sherman law in tho recent
decisions q Is interesting 10 find the lead
ing Democratic lawyer in the House. the
chairman Of the Committee on Judiciary
Henry i. clayton. thoroughly SATISFIED
with them. Judge Clayton said to-day: 1
III We arc 10 take the Supreme Court AZ
tie word the Snermn law is ample It Is
farreaching II has been weighed and not
found wanting II tho Tobacco COMPANY
with all it's ramihcations Of interests can
he dissolved under it the law csn rout any
trust on earth. The Tobacco Trust de-
cision makes clear the comprehensive ness
and the efficiency Of the law as II stands.
and any efforts 10 amend !; should no as
couraged Amendment might undo ana
make less perfect law which the ST.
pyeme Cour; in its latest mandate has de-
cIared sufficient FOR present day needs. l
DO not believe that any attempt VIII oe
made Ia amend the law. nor should mere
he at this session or any other session. so
long as the Supreme Court holds 10 it's
present view Of its comprehcns,vene-s.
Representative Underwood also expressed
the belief that the Tobacco decision had
demonstrated the usefulness and scope OK
/ the Sherman law as it stands ard inst
amendments are unnecessary. .. g. III.