The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-08-06

whole, worked in a highly efhcient
manner and achieved real and great
results; and It promises to achieve
even greater results (although 1 firm
ly believe that If the power of the
commissioners grows greater. it will
be necessary to make them and their
superior the president, even more
completely responsible to the people
for their acts). The second has oc-
complished nothing. has generally left
the worst conditions wholly unchang-
ed, and has been responsible for
considerable amount Of downright and
positive evil.
What is needed is the application to
all Industrial concerns and all coop
Grating interests engaged in interstate
commerce in which there is either mo-
nopoly or control of the market of the
principles on which we have gone in
regulating transportation concerns en-
gagged in such commerce. The anti
trust law should be kept on the stat
ute books and strengthened so as to
make it genuinely and thoroughly eI
fective against every big concern tend
ing to monopoly or guilty or anti
social practices. At the ZANE time
national Industrial commission should
be created which should have COM
plete power to regulate and control
all the great Industrial concerns en-
gagged in interstate business-wh1ch
practically means all of them IN TINS
country This commission should ex-
ercise over these industrial concerns
like powers to those exercised over the
railways by the interstate commerce
commission, and over the national
banks by the comptroller of the cur
reucy, and additional powers II founu
necessary The establishment OF such
a commission would enable US to pun
ish the individual rather than merely
the corporation, just as we now 90
with banks, where the aim of the gov
eminent is, not to close the bank, but
to bring to justice personally any
bank official who has gone wrong;
This commission should deal with an
the abuses Of the trusts-all the ABUSES
such as those developed by the govern
ment suit against the Standard OIL ana
Tobacco trusts-as the interState
commerce commission now deals WITH
rebates. 1t should have complete pow
er to make the capitalization absolute
ly honest and put stop TO all STOCK
watering.
Such supervision over the issuance
of corporate securities would put q
stop to exploitation of the people Dy
dishonest capitalists desiring to declare
dividends on watered securities, ana
would open this kind of Industrial
property to ownership by the people
at large. 1t should have free access to
the books of each corporation and
power to find out exactly how 1t treats
it's employees, its rivals. and the gem
eraI public. 1t should have power to
compel the unsparing publicity of all
the acts of any corporation which
goes wrong. The regulation should De
primarily under the administrative
branch of the government, and not by
lawsuit. 1t should prohibit and ef- =
fectually punish monopoly achieved
through wrong, and also actual wrongs
done by industrial corporations whicn
are not monopolies, such as the arti-
fetal raising of prices, the artificial
restriction on productivity, the elimi-
nation of competition by unfair or
predatory practices, and the like;
leaving Industrial organizations free
within the limits of fair and honest
dealing to promote through the inner
fsyeff ton l1n
er of the United States as a competi-
tive nation among nations, and the
greater abundance at home that will
come to our people from that power
wisely exercised Any corporation
voluntarily coming under the commits
sion should not be prosecuted under
the antitrust law as long as it obeys
in good faith the orders of the COM
mission. The com mission would be
able to interpret in advance, to any
honest man asking the Interpretation,
what he may do and what he may not
do in carrying on a legitimate business.
Any corporation not coming under the
commission should be exposed to pros
eoution under the antitrust law, and
any corporation violating the orders Of
the commission should also at once be-
come exposed to such prosecution; and
when such prosecution is successful,
it should be the duty of the commits
sion to see that the decree of the court
is put into effect completely and in
good faith, that the mbination is
absolutely broken up. ana IS not al
lowed to come together again, nor the
constituent parts thereof permitted to
do business save under the conditions
laid down by the commission. This
last provision would prevent the repe-
titiou of such gross scandals as those
attendant upon the present admins
tratiOn'S prosecution of the Standard
Oil and the Tobacco trusts. The SUI
preme court of the United states in
condemnfng these two trusts to disso-
luton used language of unsparing Sc
verify concerning their actions. But
the decree was carried out in such
manner as to turn into farce this
bitter condemnation of the criminals
by the highest court in the country.
munity at large was gained; on the
the prices went up to
consumers, independent competi-
tors were placed in greater jeopardy
Of the wrongdoers greatly appreciated
In value. There never was a more
instance in which wealthy wrongdoers
benefited more conspicuously by law
which was supposed to be aimed at
them and which undoubtedly would
have brought about severe punishment
Of less wealthy wrongdoers.
The Progressive proposal is definite.
It is practicable. We promise nothing
hat we cannot carry out. We promise
business. We promise adequate con-
-rol of all big business and the stern
of the evils connected
with big business, and this promise we
IAN absolutely keep. Our proposal is
10 help honest business activity, how
ever extensive, and to see that IT is
rewarded with fair returns so that
here may be no oppression either of
business men or of the common peo-
pie. We propose to make it worth
while for our business men to develop
he most efficient business agencies for
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