The Taney County republican. (Forsyth, Mo.) 1895-1992, 1913-12-18
The Rule Of Reason.

It's becoming possible 10 see, ulinly,
what the president proposes to offer
the country in the way OF trust regu-
lation and control. In the late mes
sage to Congress, the only practical
suggestion on this point was that, in
stead Of repeal Of the Sherman anti
trust law, there should be supple
mentary Legislation to re-entorce it.
Such a plan commends itself in one
way. The Sherman law has stood the
test Of a judicial review. That it is
not in conflict with the constitution is
an established fact. More than a
decade OF time was necessary to get
that fact established. The presump.
ton being that no less time would be
needed to establish the constitution
ality OF any new law supplsnting it,
there will be distinct gain effected
by retaining it as working statute
which can, as occasion arises, be in
terpreted by the courts as to the man
ner OF its applicability in given cases.
Il has already, under such applica-
tion and Interpretation, gone far toward
checking the rampant spirit Of over
combination and capitalization Of few
years ago. 1t needs amendment and
extension, and not repeal,
A hint as to the possible line Of
amendment came out OF a White
House conference of one night this
week, participated in BY the presi-
dent and six members Of the House
Judiciary Committee, 10 which it will
find reference. A practical plan, said
to have been proposed and decided
upon, is the passage Of laws designat
ing a number Of lines Of industry now
thought TO be monopolized by trusts,
as coming within the rule Of reason
laid down by the supleme court in the
application Of the Sherman law. 1t is
no doubt hoped that such plan will
obviate new litigations, and such a
hope would seem to be justified, at
least as to any protracted litigations.
Whether the court, In laying down the
rule Of reason, opened a way for con-
gress 10 make specific designations
coming within the meaning oil the
rule, may be question, but the court
would very likely make quick de-
cision in any case brought before it.
And it strikes US, remembering the
reiterated language used in a number
Of the rule Of reason decisions, that it
is likely to say that congress has the
power to apply the rule in such ways,
But the president will not be able
to hold his party TO this line Of legisla'
tion as unitedly as he held it to the
Underwood Simmons tariff bill in spite
OF much protest, or as unitedly as he
has been holding it on the Glass Owen
currency bill. Aggregations Of capital,
whether incorporated and consolidated
for efficiency and economy or for stock
broking and tond jobbing, whether
bona fde or ultra vires, are certain tc
recognize in such measures a menace
to themselves. They will oppose the
initial attempt as an effort 10 make q
precedent, and Mr.. Wilson will dis
cover how many democrats in Congress!
can be influenced by such opposition
reaching them in their distric S, is
many ways. The bill, also proposed
for the creation OF an interstate trade
commission to have supervisory regu
lation OF the enforcement Of the new
antitrust law, will not be opposed will
nearly the vehemence which will b.
directed against the effort 10 have
congress apply the rule Of reason" il
Its own way. The fight for and agains
the administrations antitrust Legislation
will rage around that point. Globe
Democrat.