The Birmingham age-herald., 1913-05-02


Tess to be the unreconcilable enemy of
monopoly and frantica1ly demand the
privilege of standing between the peo-
pie and those who seek to oppress
them.
Real action, however. against the
trusts has been of comparatively re-
cent date During the administration
OF President Taft. there was greater
activity looking toward the correetion
OF the nonopolistic tendency In the
commercial and Industrial life of the
country than ever before. This ac
tiVity developed, according to many of
Our legislators, that while the Sher-
man antitrust law was sound as far
as 1t went, it fell far short of what
was really needed in the way of laws
upon the statute books in order that
the tare of monopoly might be pluck ed
root and branch from the field of legit-
innate competition in trade in the Unit
ed States.
Funds for Investigation
10 this end the democrats in the
SlXty-second Congress voted an an
preparation of $4,000 to be used bv
the Judiciary committee of the House
IN an investigation of the trusts with
Tie view of initiating supporting reme-
oial legislation to the Sherman law
only small part of this appropria-
tlon has been used. The committee be-
gan its work and has collected soma
very valuable data, but was prevented
from prosecuting it further during the
last session because of the time con-
sumed in the Archibald impeachment
case. 1t is quite certain, therefore, that
as soon as the new judiciary commit
tee is appointed, which will probably he
done in the closing days of the extra
session. that 1t will Immediately take
up their trust hearings That this will
ne done becomes more apparent when
1t is considered that it is up to the
democratic party to make good on the
trust question following the series of
investigations. independent of the in
dietary committee. conducted bv sne-
cial committee authorized by the Sixtv-
second Congress. The Stanley commit
tee, which probed the United States
steel corporation; the Puto committee
winch investigated the so-called money,
trcst; the shipping trust, investigated
oy tne merchant marine and fisheries
committee of the house and others less
important.
From the work of the judiciary com.
mattee, already done, and that to fol
low, there may be expected somethine
tangible. The Stanley Investigation nre.
ceded IN most part national election
anu was more or less political be-
,ause OF the issue raised by the pur-
Ghsse or the Tennessee Coal, Iron and
1.ailroao company by the United States
steel corporation. 1t brought out lit
tie that was new, simply putting an
oirlclal stamp on certain well known
1dcts' The money trust Investigation
a'ceHtuated the need of currency ler
lsiation, which if wisely enacted If ie
pefleved viii remedy most of the evilg
uncovered. 1t laid special stress on in
teliocklng directorates which exist, nor
only among the banking institutions oq
the country, but among big cornors
tlons and railroads. and has long bean
condition viewed with SUSPICION bv
the people.
Avalanche of Bills
Ihere is a perfect avalanche of hills
aimed at the trusts designed bv their
ambitious authors to eradicate all tho
tfnst evils the country is heir. IN a,d
priHg felief sure and permanent. the
provisions of which will be caref,Illv
analyzed In conjunction with a thorough
prope into the practices of the alleged
rlcnopolies. Then if they are halieyed
TO be wise and Just remedies or can
oe made so by amendments they will
oe reported by the judiciary commit
tee TO the House for action I'm thar
boGy. ''"'
representative Stanley and others
VINO have made a study of the trusts.
peheVe that an effective antitrust law
cth De written in one paragraph, the
sense of which would be as follows.
No corporation doing an interstato
commerce business shall be permitted
10 own the stock, in whole or In part
OF another corporation, or permit its
stock to be owned either in whole or
IN part by another corporation"
t Is SAID that no less an authority
than eX-Attorney General Wickershan,
believed that a brief enactment with
THESE simple provisions would solve
the trust problem. If such was the law
II is pointed out, "holding companies''
would be impossible and by making II
retroactive applying to existing corpor-
atoms at the expiration of a specified
time, it would terminate pending dis
solution suits and put a stop to liti
g&t1on against the so-called trusts In
which the government has not always
come out the victor.
1t would also, it is claimed do away
with the necessity of the United States
supreme court having to construe
whether or not a corporation was ''un-
reasonably in restraint of trade" as
is the case under the Sherman law.
McReynolds' Attitude
1t is matter of some comment that
Attorney General McReynolds so far
has not shown a disposition to bring
suits against certain concerns which
have been under observation and III
vestigation by the department of JUS
tice for some time, nor has he been
very active In The prosecution of suits
already pending when he went into