The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1912-07-24
Stanley Now Has Only Two
Members of Nine in
Accord With Him
LEGISLATE AGAINST
THE ACT NOT RESULT
Field of Interstate Commerce Should
Be Restricted More, Thinks New
York resentative-Should
Be Specific Acts

|
| Washington, July Representative
Martin w. Iittleton of New York men,
Der of the democratic majority of the
! House steel trust investigating COM
mittee. today formally presented his
views to the committee, dissenting
from the legislative recommendations
| of Chairman Stanley. He agreed to
sign the Stanley report with many
reservations That left Mr.. Stanley with
but two other members of the COM
mittee of nine In complete accord with
him. These are Representatives Beall
of Texas and McGillcudy of Maine.
Mr.. Littleton's views. to which much
publicity has been given, favor prin-
| cipally a joint body OF the Senate and
! House to study the trust question.
| Mr.. Llttleton declined to support
proposed bill to put upon corpora
tlon the burden of proving it is a rea-
sonable restrainer of trade. He dis
cusses the bill at length and of the
future of the trusts said
"organized business generally while
| welcoming a short space of peace lives
in dread of the future; organized pol
tiles stands COMPOUNDED In front of the
problem, and organized labor inces-
sanity demands the amending of the
Sherman antitrust law. Neither the
radical nor the conservative in poll
tiles is satisfied with the myth and
apparltion. Neither organized labor nor
organized capital approve of it.
The Real Vice
THE real vice in the treatment of
the whole problem heretofore has been
the attempt to legislate solely against
the result or effect of a series OF acts
instead of specifically defining and
prohibiting these acts. In an effort 10
prevent and punish eonfessedly con-
spicuous evils we have set all busi-
ness cropping and feeling about with
uncertain stride like man In tho
gloom"
, After lengthy discussion Of indus
trial conditions and the history of tse.
: development of corporations Mr.. Lit
5 tleton said In part
1T is my belief that the federal gov
ernment should resolutely challenge
, every corporate concern seeking en-
trance into the field of interstate COM
merce and compel 1t to CONFORM to a
standard which will insure. first that
the concern has behind every Issued
share of stock the real value which the
share represents. not only for the pro
lection of those who buy the stock but
to insure that 1t Will not lower the
standard of Its product to force a div
idend on excessive capitalization and
thus tend to demoralize the Industry.
TO do this effectively both as Sc
curity to the public and as a reacting In
nuence upon the policy of the states, the
federal government should require cor
porate concerns entering the neld OF in
terstate commerce to submit their status,
their true condition to board created
Cor that purpose. A report of each conf
pany examined with full and authentic
data should be kept and the rule govern
ing the conduct of the board should be en-
acted into law by Congress; and no con-
Germ should be allowed to enter the held
of Interstate commerce until the board
had issued a certificate to the effect that
the concern had complied with the law
governing its admission.
Should Contain Laws
This certificate should contain a state
ment of the laws governing their admis-
sion apl should stand for and In the
/ place of a charter 1t ought to be pro-
vided that this certificate should be for
feted for a violation of the conditions of
entry as we'll as for a violation of any
state commerce or business-thls forfeit
ure to be upon notice and after a hear
ing.
ITO make drastic regulations as TO all
future concerns entering into an inter-
( state commerce and leave unregulated and
undisciplined those already engaged which
without restriction have been allowed
J to enter into that field, would produce
! discrimination at once unjust and harm
full to the new concerns. The acts OF
Congress gSSernng the admission of con-
Germs into interstate commerce could be
so framed, doubt, as TO require
gradual compliance with them by those
concerns already In the field so that the
> readjustment would make them all equal
In the eye OF the law, equal In their reg
ulation and at the same time be accom-
plished without too sudden a disturb
ance OF those which have entered with
out challenge
i Mr. Littleton urged that the commis-
sion which he proposes be made closely
responsible to Congress.
He concluded:
Should Save Field
1--WE should save the field of Interstate
| commerce as territory into which cer-
| tain corporate concerns, after passing
a proper examination. should be allowed
to enter and having entered. they should
, be governed BY a definite code of In
dustral regulations enacted by Congress.
| GTaQualil, Dy Tue Cdftlui STUDY OIL luuus-
trial development. by requiring elaboraks
reports and by wise and just control \
system of rules governing interstate COM
merce could be developed and these rules
would become familiar to everyone en-
gagged In II.
Instead OF lodging the executive right
| TO apply for and obtain injunction
in the hands of the Attorney General, 1t
should be provided that any person whose
property, estate. business or enterprise
Is threatened with injury or damage IN
violation OF any OF the prohibited acts.
or In violation of the conditions on which
the concern was admitted TO the field
OF interstate commerce. could apply to
any federal court having territorial juris-
dictlon for an injunction TO restrain the
person or corporation threatening the in
jury. II concern admitted to the field
Of interstate commerce should obey the
rules and laws provided for its govern
ment in that field and should by skill, eff-
cheney and energy grow to enormous size
and earn rich rewards. | would coun.
I these rewards as the fruits of that in
dustry the harvest of energy and genius
>