The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1913-03-29

'uzzIes of the Sherman Law.
What is "big businessP" This ques-
ion came up for the first time when 1t
vas ATTEMPTED to enforce the Sherman
aw.
The Sherman law, framed bv Hon.
John Sherman, United States senator
from Ohio and a republican, provides
that there shall be no combination IN
business to restrain trade and to prevent
Probably there never could be law
designd to operate upon all the i2num-
cradle lines of industrial production,
transportation and distribution OF COM
modities in the United States, express
sed with such hazy Indebtedness OF
terms and Limitations as ia the Sher-
:.an law.
Formerly, every discovery in science
every mechanical invention, every COM
bination of intelligence, skill and cap
ital that could cheaper the production
of articles Of consumption was encour-
aged, and the discoveries, inventors
and possessors of the intelligence, skill
and capital were entitled to the bene-
fit OF the advantages % attained.
The possessors CT these advantages
were enabled to sell their products AZ
lower prices than was possible to those
who did not possess them. and so con-
sumers, who make up the grea, body
of the people, were enabled to buy n"Te
cheaply from some than from Others
and so competition in business WAS
narrowed to fewer manufacturers and
dealers, but the consumer got the bene-
fit.
Now, con ,trued by the strictest rule
possible under its indefinite terms, no
person through the possession OF dis
coveries, inventions, superior skill or
larger capital which would enable MIN
to produce and sell articlesof consump-
ton cheaper than his competitors shall
be allowed to do so.
The apparent object of the law is, not
that the consumers who make up the
sreat body of the country's population
shall be enabled to buy at lower prices
but that no dealer or manufacturer
shall be allowed to sell at lower prices
than can his competitors. Competition
must be maintained at all hazards.
The necessity for the maintenance Of
competition in trade lie that some per-
son possessing,special advantages nigh
put down prices so as to.drive out al
competition, and after thereby securing
a monopoly of the trade raise prices Il
extortionate rates.
Therefore, knowledge and skill, dis
covery and invention, difference il
capital and facilities in the productiC
and marketing of commodities shall no
be considered, but all who sell shall eel
at the same prices, and those price
shall be regulated by the ability Q
those who. are least able to produc
standard articles to make fair profit
As q result. all buyers shall buy at tn
same price.
It is not strange that the Suprem
Court Of the--.United States, wien
came to deal with the Sherman law, in
troduced the "rule Of reason" holdin
that some combinations engaged in pro
ducing and tselling were reasonable
and others we're unreasonable. Blu
President Roosevelt had already, pre-
vious TO the declaration of the court
declared that some trusts and comb.
nations were benevolent and other
were the contrary, and the benevolen
trusts should be upheld and the evi
trusts shourd be extirpatei.
From this it is seen that the Shermal
law presents puzzles that must not onl
challenge the attention OF the judicis
mind, but present present problems q
extreme difficulty to the legislator VIII
might seek to solve them.-..N. o. Pic
ayune.
Since the prosperity Of the world de-
ponds on the well-being Of the farmer
good roads are Of more importance thai