Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-09-29

way they would be lacking IN their duty
II they aid not prosecute them. They are
under my orders to treat the prosecution
of trusts like the bringing OF any other
.suits which are within the scope and
iduty of the Department of Justice. and
II must decline to admit that there is any
discretion which would enable the attor-
ney general and his assistants TO stay the
hand Of the government in respect of such
violations Of law. l do not think ii need
be long continued, because / believe that
the business community itself is rapidly
taking in the effect Of the decisions OF
the supreme court and that we may ex-
pect q revolution of feeling on the atti-
tude OF business men toward this step.
The Antitrust Law.
II have heard the severest criticism
from some men engaged in business, Of
the antitrust law. 1t is difficult for me
to argue with them, because / don't I'M
derstand how their position can be sup
ported in the slightest. They seem to
think that there ought to be some meas
ure making legal the control of competi-
ton and limited monopoly. some statute
enacted which shall establish a line be-
tween those monopolies that are reason
able and those that are not-those that
are benevolent and those that are un-
considerable. No such line is possible
and the supreme court has expressly so
decided. Mourning over condition which
lie Inevitable is useless, and until they
realize that their views in this regard
must be radically changed their COM
plants must fall upon deaf ears.
The business OF the country Today
rests upon the protective tariff basis
Everyone knows this, and everyone must
be aware that a change OF tariffs In such
way that those businesses that are de-
pendent upon protection for their exist
ence shall lose It must injure present
conditions in all business, whether de-
pendent on the tariff or not. The change,
therefore, from protective tariff to a
tariff for revenue only Is necessarily hos
tile 70 existing business, and must lead
to business depression and at least tenn
porary business disaster. But there are
many. and / am among those. who be-
lieve that protection in the past has been
too high, and that II is possible TO lower
the tariff so as not to interfere with
business, give living rate OF protection
to existing enterprise and yet prevent
excessive prices growing out OF exces-
sive rates. In carrying out such a policy
and maintaining such an attitude. It is
essential that the Interests OF business
should be guarded by close Investigation
into their needs as to a protective tariff,
and this emphasizes the Importance and
al "a -.
tariff commission and Of its aseertainment
OF the facts with respect TO business and
the difference between the cost Of pro-
duetion here and the cost OF production
abroad before tariff changes are made
Currency system weak.
we have very lame banking ana cur
,reney system. There ought to be
some central authority that could
take over the quick assets Of
banks in the form of business
paper and Issue bank notes on the faith
Of It 10 meet the exigency arising at any
time In a demand for money. If vested
In one person or set OF persons. the bust
ness can be intelligentiy done, panics
avoided, and money sufficient for the
purposes OF business constantly kept on
hand. The present proposition OF the
monetary commission. which believe
win be recommended to CONGRESS. Is that
this authority shah be provided by
combination OF all the banks OF the ooun-
try, reserving to the smaller banks
power Of selection greater than the ratio
between their capital and the capital of
the larger banks. in which board or
agency the government shah have a rep
resentative, not so that It may control.
but so that IL may have a voice in the
MANAGEMENT
Il have considered these points with
view 20 an appeal to the public IN be-
half Of reasonable. moderate action and
treatment for the purpose OF encouraging
the Investment OF capital and Of promot-
ing prosperity. deprecate vindictive
feeling against railway corporations,
against the competing parts OF trusts
after they have complied with DEGREES
Of courts. disintegrating them. against a