The Meridian times. (Meridian, Idaho) 1909-1938, 1914-01-30

ieft lii wholesome combination. For
tunately, no measures OF sweeping or
mover change are necessary. 1t will be
understood that our object is not to
unsettle business or anywhere serious
~ to break its established courses
athwart. On the contrary, we desire
the laws we are now about to pass to
pc the bulwarks and safeguards Of in
dustry against the forces that have
disturbed it. What we have to do can
be done in new spirit. In thoughtful
moderation, without revolution of an
untoward kind.
Private Monopoly intoierable
I'VE are all agreed that private
monopoly is indefensible and intoler-
able, and our program is founded upon
that conviction. It will be compre-
hensiye but not radical or unaccept-
able program. and these are its items.
the changes which opinion deliberately
sanctions and for which business
waits.
1T awaits with acquiesence In the
first place for laws which will eff
fectually prohibit and prevent such
interlockings of the personnel of the
directorates OF great corporations
banks and railroads, industrial, COM
mercial and public service bodies-as
in effect result in making those who
borrow and those who lend practical
ly one and the same, those who sell
and those who buy but the same per-
sons trading with one another under
different names and in different COM
binations, and those whose affect to
compete, in fact, partners and masters
Of some whole field of business. Suf-
ficient time should be allowed, OF
course, in which to effect these
changes of organization without incon-
venience or confusion.
Such a prohibition will work much
more than mere negative good by
correcting the serious evils which
have arisen because, for example, the
men who have been the directing
spirits of the great investment banks
have usurped the place which belongs
to independent industrial management
working In its behoof. It will bring
new men, new energies, new spirit
of initiative, new blood into the man
agement of our great business enter
prises. 1t will open the field OF In
dustrial development and origination
to scores of men who have been
Obliged to serve when their abilities
entitled them to direct. 1t will i'm
mensely hearten the young men com
ing on and will greatly enrich the
business activities Of the whole coun
/ try.
Harm and Injustice Done.
In the second place, business men
as we'll as those who direct public af
fairs now recognize, and recognize
with painful clearness. the great harm
and injustice which has been done t
many, if not all, of the great railroad
systems Of the country by the wa.
in which they have been financed ant
their own distinctive interests subordi
mated to the interests of the mel
who financed them and OF other bust
ness enterprises which those mel
wished to promote.
1.-THE country is ready therefore t
accept and accept with relief as wei
as approval, law which will COME
upon the interstate commerce CON
mission the power to superintend an
regulate the financial operations b
which the railroads are henceforth t
be supplied with the money they nee
for their proper development to NEE
the rapidly growing requirements c
the country for increased and In
proved facilities of transportation. w
,, cannot postpone action in this matte
without leaving the railroads expose
10 many serious handicaps and ha
ards. and the prosperity of the raj
roads and the prosperity of the coul
try are inseparably connected. Upo
this question those who are chief
responsible for the actual manag
ment and operation of the railroad
! have spoken very plainly and vel
earnestly, with a purpose we ought
! be quick to accept it. 1t will be one ste
! and a very important one, toward Il
2 necessary separation of the bushes
, of production from the business
; transportation.
1.-THE business of the country avail
also, has long awaited and has 81
: fered because it could not obtain fu
! Their and more explicit legislative de
, milton of the policy and meaning
! the existing antitrust laws. Nothil
hampers business like uncertaint
= Nothing daunts or discourages it III
: the necessity to take chances, to II
the risk of falling under the condel
nation of the law before it can ma
>. sure just what the law is.
\ Definition Now Possible.
d Surely we are sufficiently famili
V with the actual processes and met
e DDS of monopoly and of the ma
Y. hurtful restraints of trade to ma
1t definition possible, at any rate up
e the limits of what experience has d
.e closed. These practices, being nj
e abundantly disclosed, can be expl
n lilly and item by item, forbidden
10 statute in such terms as viii pr
sD4 tha 4.