The Detroit times., 1912-08-08

zation.-eall Il corporation. OF what
you Willis necessarily dangerous 70
the liberties even the economic liner
ties OF a great people Ike our own,
fun OF intelligence and OF indomlta,uiS
energy I am not afraid OF anNtiih NJ
that is normal I dare say We shsu
rev,r return TO thC old order OF ma
vIduaI cnmpstition. and that the orgAu-
izltipn OF business upon great s'sts
no,nt ,tssif normal and inevitable
Power in the hands OF great business
men does not make me apprehenslNc,
unless II springs out or anNshtaks'
which thev have not created for them
selVas Big business IL not dangerous
because Is big. hut because Tvs nle-
ness ~ an funwholesonie imitation ere
ateh nv privileges ana eNemntlohs
which IL ought not 10 enjoy. NhlIr
ronnetitjon cannot he created by sta
tutorV enactment. u can In large
measure be revived by changlhs W"
laws and forhidding the nractlvts INN,
killed H. and by enacting laws that VII NJ,
give Il heart and occasion agaln. W,
ran arrest and prevent monopoly
has Assumed new shapes and ADOPTED
new processes IN our time hut lnes.
are now heing disclosed and can ot
dealt with
The general terms OF the prcsent fed
eral antitrust law forbiddiug COM
blnstiors in restraint OF trade nave
apparently proved ineneetuhl U.s. u.s.
have grown up under It's ban very luN
uriantlY. and have pursued the methoIs
hy which so many OF them have estap-
lIshed virtual inonopolies without SER
Gus let or hindrPncs. IL has roNied
sgainst them like any sucking dove
am not assessing the responsbbllltNt !
am merely stating the fact but lne
means and methods by which trusts
have established mononolles have now
become known IL will be necessary
to supplement the present law win
such laws. both civil and criminal, es
will enectuauy punish ana prevent
those methods, adding such ether laws
and adequate judlclai processes,
whether civil or criminal, 10 d'sclose
them and follow them 10 hnal Nerniet
and Judgment. They must be spectnc-
ally and directly met by law as they
develop.
But the problem and the ditnoulty
are much greater than that There ar"
not merely great trusts and combinn.
ttons which are 10 be controlled and
deprived OF their power 10 create
monopolies and destroy rivals; there
is something bigger still than they
are and more subtle, more eyasivc.
more difficult TO deaf with, There arc
vast confederacies Gas may perhaps
call them for the sake OF convenience
OF banks. railways. express companies,
insurance companies, manufacturing
corporations. mining corporations,
power and DEVELOPMENT companies ano
all the rest of the circle bound to-
gcther by the fact that the ownership
OF their stock and the members OF incl,
boards OF directors are controlled ana
determined comparatively small hhn
closely inter-relnted groups or persons
who. by their Informal confederacS'
may control. II they please and when
they Will, both credit and enterprise
There Is nothing illegal about these
contederacies, so far as can percsINt
They have come about very naturally.
generally without plan or deliberatoil
rather because there was so mucn
money TO be invested and II was In th-
hands. at great financial centers, OF
men acquainted with one another anu
intimately associated I'm business, than
| because anyone had conceived and was
carrying out plan OF general control.
bur they are none the less potent
force In our economic and financial sys-
tenn on that account, They are part or
our problem Their very existence
gives rise TO the suspicion OF money
trust concentration OF the controI
OF credit which may at any time be-
come Infinitely dangerous 10 free en-.
terprise. II such a concentration and
control doee not actually exist IL -
evident that II can easily be set up
and used at Will. Laws must be de-
vised which will prevent this, II laws
can be worked out by fair and free
counsel that will accomplish that re-
suit without DESTROYING or seriously
embarrassing any sound or legltimate
business undertaking or necessary and
wholesome arrangement.
! Let me say again, that what we are
seeking Is not destruction OF any kind.
! nor the disruption OF any sound or
I honest thing, but merely the rule OF
| right and OF the common advantage
] am happy to say that a new spirit
has begun TO show itself In the last
| year or two among influential men OF
! Business and. what Is perhaps even
| more Significant, among the lawyers
who are their expert advisers; and that
this spirit has displayed itself very
notably In the last few months In an
effort TO return. In some degree at any
rate. TO the practices OF genuine COM
petition. Only a very little while ago
our men OF business were united In
resisting every proposal OF change and
reform as an attack on business, an
embarrassment TO all large enterprise.
an intlmation that settled Ideas OF
property were to be set aside and a
new and strange order OF things ere
| ated out OF hand While they thought
| in that way progress seemed impos-
| sible without hot contest and a bitter
clash between interests almost war
Of clasA~, Common counsel seemed
all but hopeless. because some OF the
| chief parties in interest would not take
| part,-seemed even to resent discus
wards themselves They talked con
! stantly about vested interests and
were very hot.
II Is a happy omen that their atti-
| tuOe mas cnhnkeO. Iney see tnat Wnat
Is right can hurt no man that new
adjustment OF interests Is inevitable
and desirable. 10 In the interest OF
everybody: that their own honor. their
own intelligence their own practical
comprehension OF AFFAIRS is involved
They are beginning 20 adjust their
business TO the new standards Their
hand ~ no longer against the nation:
they are part OF II. their Interests are
| bound up with It's Interests This is
not true OF all OF them, but IL Is true
OF enough OF them TO show what the
new age Is TO be, and how the anxieties
OF statesmen are TO be eased II tho
light that Is dawning broadens into
day
II am right about this. 81 is goin &
10 be easier to act in accordance with
with the labor question. The SO called
labor question Is a question only be-
cause we have not yet found the rulc
az right Va adjusting the interests OF
labor and capital The welfare, the
happiness. the energy and spirit OF tho
men and women who do the daily work
IN our mines and factories. on our rail-
on our farms and on the sea. is OF the
essence OF our national life. There can
he nothing wholesome unless their life
: ts wholesome there can be no content
ment unless they are contented Their
physical welfare affects the soundncss
OF the whole nation. We shall never
get very far In the settlement OF these
everything done for the working man.
| by law or by private agreemt as a
concession yielded TO keep him from
agitation and a disturbance OF our
peace Here, again, the sense Of uni
Nersal partnership must come Into play