The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1912-08-08

on was undeVeloped, the young nation
struggling to find itself aud get uron its
feet amidst order and more experienced
competitors. They belong TO a very sre-
cent and very sophisticated age. when
men anew what they wanted and knew
now to get it by the favor of the gov
eminent. 1t is another chapter in the nat
ural history of power and of governing
classes The next chap-er will set us
free again. There viii lie no flavor of
tragedy in 1t. 1t VIII be a CHAPTER of
readjustmen., not of pain and rough dis
turbance. 1t will witness turning back
from what is abnormal to what is nor
NAL. 1t will see a restoration of the
laws of trade, Which are the laws of com
petition and oe unhampercd opportunity.
under which men of every sort are set
lee and encouraged 10 enrich the
ton.
Il am not one of those who think that
competition can be established by law
against the drift of world wide economic
tendency; neither am 7 oLe of those who
believe that business dono upon a great
scale by single organization-call it
corporation, what YOU willis neces-
sarily dangerous to the liberties, even
the economic liberties. of great people
bike our own, full of intelligence and OF
.ndomitable energy [ am not afraid of
anything that is normal. | dare say we
shall never return &c the old order OF
individual competition ana that the or
Sanization of business lpc, a great scale
OF cooperation is, up 10 a certain point
itself normal and inevitable.
No Apprehension from Power
Power in the hands of great business
men does not make me arprehensive, un-
less it springs out Of advantages which
they have not crea ted for themselves
Big business is not dangerous because it
is big, but because its bigness Is an I'M
wholesome imitation created by privileges
and exemptions which ii ought NOT to en-
10Y. While competition cannot be treated
by statutory enactment, II can in large
measure be revived by changing the laws
and forbiddlng the practices thai killed
IL. and by ,enacting laws that will give
Il heart and occasion again We can ar
rest and prevent monopoly. 1t has as
stunned new shapes ami adopted new proc
esses In our time, but these are now be-
ing disclosed and can be dealt with.
THE general terms II the present
cral antitrust law, fcrbidting co
tons in restraint of trade have sppar-
entity proved Intellectual Trusts have
grown up under its ban very luxuriantly,
and have pursued the methods by which
sc many OF them have est d olished virtual
nonopoies without serious let or hind
rance 1t has roared against them like
any sucking dove. l am not assessing
the responsibility, I am merely stating
the fact. But the means and methods by
which trusts have established monopolies
lave now become known. 1t will be
necessary to supplement the present law
with such laws, both civil and criminal,
MS viii effectually punish and prevent
those methods. adding such other laws
as may be necessary to provide suita BILE
and adequate judicial processes, whether
civil or criminal to disclose them and
follow them to final verdict and judg-
ment. They must be specifically and d.
rectly met by law as they develop.
But the problem and the difficulty
are much greater than that. There are
not merely great trusts and combina-
tons which are to be controlled and de-
prived of their power to create monopo-
lies and destroy rivals; there is something
bigger still than they are and more
subtle. moro evasive, more difficult to
deal with. There are vast confeaeracies
tas may perhaps call them for the sake
OF conveniences) Of banks. railways, ex-
press companies. Insurance. companies,
manufacturing corporations. mining cor
Dorations power and development COM
panies and all the rest of the circle
bound together by the fact that the own
ership of their stock and the members OF
their boards of directors are controlled
anu itttrHllneu Dy comparatively small
and closely inter-related groups of persons
who, by their informal confederacy. may
control, If they please and when they WILL
both credit and enterprise There is moth
ing Illegal acout these coufcleracies, so
lar as can perceive. They have come
abou- very naturally, generally without
plan or elaboration. rather because there
| was SO much money to be invested and 1t
was n the hands. at great financial CEN
tors. Of men acquainted with one another
| ana intimately associated in business. than
| because anyone had conceived and was
| carrying out plan of general CONTROL
| but they are none the less potent force
| in our eeonoia'c and financial system on
| that account. They are part Of our prob
| lem. Their very existence gives rise to
| he suspicion of money trust. a con-
centration of the control OF credit which
may at any time become infinitely dan
| gerous to FREQ enterprise. II such a con-
| ccntration and control does not actually
exist. it is evident that it car, easily, be
set UP and used at will. Laws must be
devised which will prevent this. II laws
| can be worked out by fair and,free coun-
sci that win accomplish that insult With