The daily banner. (Cambridge, Md.) 1897-2008, 1912-10-02
TWO BIC ISSUES,
SAYS GOLFERS
The Tariff and the Proper Treat
ment Of MonopO|Ies.
WON'T TIE TO ROOSEVELT.
"AetiveIy Disasrees" With His Views
About Trusts and "Wastes of Com
petition" and Supports tho Candi-
dacy of Wilson and Marshall.

About Trusts and "Wastes of Com
petition" and Supports tho Candi-
! dacy of Wilson and Marshall.
: Golfers is out for Wilson and Mar
shall. 1t refuses to support Theodore
Roosevelt, plus George w. Perkins,
Elbridge II. Gary and the rest of the
steel trust-harvester trust magnates.
Its open opposition to the third term
ticket was indicated In the issue of
Sept ii. In the issue of Sept Fl its
reasons for espousing the Democratic
cause are clear and forceful.
The leading editorial, 1.-The Wastes of
Competition" says:
More and more the campaign is
coming down to two pressing issues.
the tariff and the proper treatment of
monopolies. Golfers actively dis
agrees with the view Of monopoly be-
ing urged by Messrs. Roosevelt, Per
kins and Gary.
They talk great deal about the
wastes Of competition. The necessary
wastes of competition are relatively in
significant, and the wastes of unfair
and destructive competition are wholly
unnecessary. They will be largely
eliminated when competition is regu-
lated.
1.-THE La Follette-Lenroot and the
Stanley bills to perfect the Sherman
law and the Newlands-Cu pro-
posals for an interstate trade commits
sion are all directed In part 70 that end.
The remaining wastes of c. mpetton
may be likened to the wastes of de-
mocracy. These are obvious, but We
know also that democracy has COM
pensations which render it more eff
cient than absolutism. So 1t is In in
dustry. The margin between what
men naturally do and what they can
do is SO great that the system which
urges men on to effort is the best sys-
tenn.
1.-The necessary wastes Of monopoly,
on the other hand, are enormous. Some
of these can, of course. be eliminated
by regulation. An efficient interstate
trade commission, acting under appro-
pirate legislation, could put an end to
much Of the oppression Of which trusts
have been guilty. 1t could prevent I'M
just discrimination. 1t could prevent
ruthless and unfair use Of power: but
q government commission would be
powerless to secure for the people the
or
competition.
"As no means exist for determining
whether greater net earnings are due
to greater efficiency in management or
to excessive profits, large net earnings
would be followed by compulsory re-
duction Of prices, which in turn would
create a sense Of injustice suffered.
paralyze individual enterprise and pro
duce unprogressive, slipshod manage
ment The attempt to secure lou prices
through price fring could proue as i'm
potent as the statutes tehich hare sought
to protect the public in railroad rates by
limiting the dividends.
'The interstate commerce commits,
sion has been invoked as an argument
in favor Of licensing monopoly. That
commission has stopped many abuses;
It has practically put an end to cor
rupt and corrupting discrimination in
rates; 1t has protected the shipper
from oppression and arrogance and in
justice; it has prevented unreasonable
GdDances in rates; but it has secured
comparatively few notable reductions
In rates, except those involved in stop
ping discrimination between persons,
places or articles. 1t has been po,oerless
to reduce operating costs, and greater re-
fcticns In rates can come only ,oith re-
the cost OF producing trans
~ Justice and corruption
- railroad period
But we must
IND rates
1ition
rom
ing