The Big Sandy news., 1912-08-09

laws over TO them TOR ioglbituVe anu
contractual alteration? We have In
these disclosures still another view OF
the tariff. sill another proof that not
the people OF the United States, but
only very small number Of them.
have been partners In that legislation.
The trusts do not belong to the perl
cd OF infant Industries. They are not
, the prodr-ts OF the time. that old la
borious time, when the great conti-
, nent we live on was undeveloped. the
young nation struggling to find itself
and get upon Its feet amidst older and
more experienced competitors They
belong to a very recent and very So
4. phistIcated age. when men knew what
they wanted and knew how to get u
by the favor OF the government IL
IA another chapter in the natural his
tory OF power and Of governing
classes.- The next chapter will set US
free again.
am not one of those who think
that competition can be established Dy
law against the drift OF world wide
economic tendency; neither am ! one
OF those who believe that business
done upon a great scale by single
organization-cal II corporation or
what = ii Willis necessarily danger
GUS to the liberties. even the economic
liberties, OF a great people like our
own, full of intelligence and OF In
domitable energy. am not afraid OF
ANYTHING that Is normal. ] dare say
we shall never return to the old order
of individual competition and that the
organization OF business upon a great
scale of cooperation is, up to certain
point, itself normal and inevitable
: eh.rn,nt .w Amendments.
~ ,n tha hands NJ great busi.
-, a,os not nata mo anpre-
ssns,na rn,o.. q snr,nga ont Of ad-
..sn,aan, r.h,ch tbev have NOT created
80 sson,sa,,,as Pic hus,ness ia not
so.arona ~ hooor.a Il "a bIg but be-
aanso lie h,rness Ia nm unwholesome
,nsa.,on ,raatod NV nrIvileres and ex-
nn'nt,ons n,h,ch n orgbt NOT 10 enioy.
Tha General terms Of the present
,adaro, antitrust law. forbidding
acomh,nations In restraint OF trade"
have annarentlv nroved ineffectual.
TRUSTS have GROWN mn under its ban
verv ,uxprIantIv and have pursued
tho matbods NV which 40 many of
them have established virtual monop-
oI,es without serIous LET or hindrance.
n has roared against them like any
smoking dove. I am not assessing the
responsibility: I am merely stating the
fact But the means and methods by
which trusts have established monop-
olIes have now become known. It will
be necessary to supplement the pres
ent law with such laws. both civil and
criminal. as will effectually punish and
prevent those methods, adding such
other laws as may be necessary to
provide suitable and adequate judicial
processes, whether civil or criminal.
to disclose them and follow them to
final verdict and Judgment.
But the problem and the difficulty
are much greater than that There
are not merely great trusts and COM
binatlons which are to be controlled
and deprived Of their power to create
monopolies and destroy rivals. There
is something bigger still than they are
and more subtle, more evasive, more
difficult to deal with. There are vast
confederacies las may perhaps call
them for the sake OF convenience OF
banks, railways, express companies,
Insurance companies. manufacturing
corporations. mining corporations
power and development companies
and all the rest OF the circle, pouno
together by the fact tnat the owner,
snip OF their stock ana the members oil
their boards OF directors are controlled
and determined by comparatively
small and closely interreiated groups
OF persons who, by ehelr INFORMAL con
federacy, may control, II they please
and when they VIII. both credit and
enterprise. They are part OF our prob
lem, Their very existence gives rise
to the suspicion OF money trust"
concentration Of the control Of credit
which may at any time become In
dnitely dangerous to free enterprise
II such concentration and control
do not actually exist 1t is evident
that they can easily be set up and used
/ M will Iaws mnsf ha devised which