New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-07
Federal Regulation for
All Industrial Concerns.

What rs needed s. tho application 20 IL
Industrial concerns and ali cooperating
interests engaged fu Interstate com rnerce
IN which there - either monopoly or
control of the market % ihe principles
on wuic1 We have gone ~ rrsulhuhs
characterization concerns engaged ia anch
commerce. Tho aHtl-trJht law should De
H.pl on th, stat8te BOOKS and Strength
ened a. ar 10 MAKE * E-n-.neiN ana thpi %
ouzhly effective against every Big con.
cern tending 10 monopoly o. guity az
autI-social practices.
commission should be created when
should have complete power 70 regulate
and control al the great Industrial con-
Germs engaged !G Interstate business -
which practically means all ~ them ~
this country This commission should
exercise over these industrial concerns
rko powers n thorc exercised over an"
railways by The Interstate Commerce
Commission and over the national banks
b. the Controller u the Curreacy. and
additional powers n found necessary.
Tho establishment Of such commits
sion would suabfr We % punish the 10
diyidual rather tEan merely the corpora
ton lust az we now 30 with banks
where the aim OF the government b. not
20 close the bank bat 20 bTiag T. justice
personally any bank Ofiicial VINO has gone
wrong This commission should deal
with al tho abuses % the trustr--a!l tho
abuses such as those developed by tho
g0vernmeut suit AGAINST the standard
on and Tobacco trlsts-as the Interstate
Commerce Commission now deals with
rebates. II should have complete power
20 make the capitalization absolutely
honest and puf stop 20 all stock water
ing
such supervision over the issuance %
corporate securities would put stop %
exploitation o. the people by dishonest
capitalists desiring % declare dividends
on watered securities. and would open
l. lad a. AulHsaFrf.f rtrHrsrfr ID 10
ship b. the people - large II should
have free access 20 the books OF each
corporation and powc~ 20 find out exactly
how 70 treat if~ cmpONee. its rivals md
the general pu1ii. IT. should have power
% pei the unsparng publicity .; All
the Ects % any corporation which goes
wrong
The regulation should be primarily
under The administrative branch ~ the
government. and not oy lawsuit. u
should prohibit and sfectually punish
monopoly achieved through wrong and
also aciual wrongs done By Industrial
such As the artificial raising % prices.
the artificial restriction on productivity.
the elimination OF competition BY nfair
or predatory practices. and the Ike leay-
ing industrial organizations free within
the limits 81 fair and honest dealing 20
promote through tie inherent efficiency
a. organization the power Of the United
STATE stale as eoomPetitiye n9iio1 among
=
home that win come 20 our people nom
that power wisely exercised.
ANY corporation voluntarily comm z
under the commission should not be
prosecuted under the ANTITRUST law as
long as it obayf in good faith the orders
81 the commission. The commission
would oe able TO interpret IN advance 20
any honest man asking the interpreta-
ton. what he may 90 and what he may
not 90 IN carrying on a legitimate bust
meas. ANY corporation not coming under
the commission should b. exposed 10
prosecution under the antitrust law and
any corporation violating the orders ~
the commission should Also al once be-
come exposed 20 such prosecution: and
when such a prosecution IL successful II
should be the duty OF the commission 20
see thst the decree OF the court is nut
into effect completely and in good faith.
20 that the combination II absolutely
Z broken up. and H. not allowed 10 come
/ together again nor the constituent parts
/ thereof permitted 20 40 business save
under the conditions laid down by the
commission.