Arizona republican., 1913-12-16

prices and as to whether giving the privilege of so fixing the prices to d manufacturer tends toward monopoly
 or does not so tend. Men who are sim cere and well informed do not think alike on this problem, but whatever their views it will be agreed that no thorough study has ever been made of the subject in this country. Nations abroad are said to favor by law that
 which we forbid
 The law with us is for the time fixed by the decisions of the supreme i court that the fixing of retail prices on the part of manufacturers is unlaw- full. If. however, new legislation should in the future be required it is import ant that the truth be known lest in
 justice be done not so much to the
 manufacturer as to the consumer
 some men. well informed. argue
 that the fixing of retail prices under conditions where competition in manu- facture exists tends to promote compe-
 titiOn. Others say that the refusal to permit the fixing of retail prices tends to monopoly because in the cut throat competition certain to follow obviously the stronger competitor will survive and may eventually have the business in his own hands, for the law forbids the making of agreements to maintain
 prices, and under these circumstances the weakest must go to the wall. Such being the views expressed by thought ful men on a matter in which every consumer is interested because he must needs buy such articles it is important
 that the subject should receive
 thoughtful study. and this the bureau of corporations purposes to give to it.
 That there are immediate and we'll
 known conditions that should and can
 be remedied by law is apparent. Some
 of these remedies are. for instance,
 law providing that there shall be
 presumption that all restraints of trade are unreasonable, and placing the bur den of establishing the req condolences of such restraint upon the party alleg- ing 1t; legislation preventing the Wa tering Of stocks: that corporations shall not hold stock in other competing com
 panies. and that neither a person nor q corporation shall at the same time own a controlling interest in two or more
 competiting corporations. or that the
 officers of corporations shall not be af-
 Inflated directly or indirectly by hold ing office in other corporations
 Congress will undoubtedly address
 itself to some of these aspects of the
 situation with curative provisions, re- gardless of such legislation. however. there still remains q fundamental econ omic fact to be determined. to wit
 whether the trust or monopoIistic form
 is socially and economically efficient in
 production. as is alleged; and upon the solution of this problem must depend
 ta nFc
 ward combinations and consultations
 in business
 "Of the old investigations. those on
 lumber. tobacco. water transporta ton, the harvester industry and cor porate taxation remain to be con ciuded by the publication of addi- tlonal reports. but all will probably be closed up within the next twelve months In addition to these are the new investigations of the fertilizer l industry. the relationship of the Ok iahoma oil fields to the general oil market. and the cotton pool
 An investigation of trade agree ments is also in progress. with a view to establishing some facts as to what agreements, if any. apparent ly in restraint of trade. are really in aid of competition and should be ex- empted from the operation of the sherman act. There is also an in vestigation pending with reference to the merits and demerits of condi-
 ton which prohibits uniform price from being fixed by manufacturers and jobbers. binding upon retailers
 as to the articles of their manufac- ture"
 Secretary RedfieId outlines his plans for a reorganiza tion of the bureau of foreign and domestic com merce:
 Our foreign commerce has grown ! by leaps and bounds until during the , fiscal year ended June 90, 1913. it reached the great total of $4.279.00O,- ,- i 900 in value. Of this great sum, $2.466,0OO.00O were exports and SI.- S13,000,000 were imports, showing a trade balance on these transactions in our favor of $653.OOO, ,0O0. It cer- !.tainly cannot be said that the gov ernment has done much to foster this great and growing trade. Tn the estimates for the coming fiscal year. therefore, a sum has been included i [pUDTI0M 0h AMVIC