The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1914-01-23

FORCES OF correction OUTSIDE the
courts are inadequate to adjust the
remedy to the wrong, In way that
viii meet all the equities and circum-
stances Of the case.
Producing industries, for example,
which have passed the point up to
which combination may be consist
ent with the public interest and the
freedom OF trade, can not always be
dissected into their component units
as readily as railroad companies or
similar organizations can be. Their
dissolution by ordinary legal process
may oftentimes involve financial con-
sequences likely to overwhelm the se-
curity market and bring upon 1t
breakdown and confusion.
There ought to be an administra-
tive commission capable of directing
and shaping such corrective processes,
not only in aid of the courts, but also
by independent suggestion, IL neces-
| sary.
Inasmuch as our object and the
spirit of our action in these matters
Is to meet business half way In its
processes of self-correction and dis
turb its legitimate course as little as
possible, we ought to see to it, and
the Judgment of practical and saga
cious men of affairs everywhere will
; applaud us II we did see to 1t, that
penalties and punishments should
/ fall, not upon business itself, to its
confusion and interruption, but upon
the individuals who use the instru.,
rnentalities OF business to do things
which public policy and sound bust
ness Iractice condemns.
Someone Is Responsible.
Every act of business is done at
the command or upon the initiative
Of some ascertainable person or
group of persons. These should be
held individually responsible, and the
punishment should fall upon them,
not upon the business organization of
which they make illegal use. 1t should
be one OF the main objects of our leg
islation to divest such persons Of
their corporate cloak, and deal with
them as with those who do not repre-
sent their corporations, but merely
by deliberate intention break the law.
Business men the country through
would, 1 am sure, applaud us il we
Wore to take effectual steps to see
that the officers and directors OF great
business bodies we're prevented from
bringing them and the business of
the country into disrepute and dan
ger.
Other questions remain which will
need very thoughtful and practical
treatment. Enterprises, in these mod
ern days of great individual fortunes,
are oftentimes interlocked, not by
being under the control of the same
directors but by the fact that the
greater part OF their corporate stock
is owned by a single person or group
of persons who are in some way in
timately related in interest. We are
agreed, / take it. that holding COM
panies should be prohibited but what
of the controlling private ownership
Of individuals, or actually co-opera-
tive groups of individuals? Shall the
private owners of capital stock be
suffered to be themselves in effect
holding companies? We do not wish,
suppose, to forbid the purchase of
stocks by any person who pleases to
buy them in such quantities as he can
afford, or in any way arbitrarily to
limit the sale of stocks to bonafide
purchasers. Shall we require the
owners Of stock, when their voting
power in several companies which
ought to be independent Of one an
other would constitute actual control
to make election in which of them
they will exercise their right to vote?
This question / venture for your con,
sideration.
Works Injustice On Public.
There Is another matter in which
imperative considerations of justice
and fair play suggest thoughtful reme-
dial action. Not only do many of the
combinations effected, or sought to 3.
be effected in the Industrial world
work an injustice upon the public in
general they also directly and seri.
ously injure the individuals who are
put ont of business In one unfair way
or another by the many dislodging
and exterminating forces Of combina-
ton. hope that we shall agree in
giving private individuals who claim
to have been injured by these pro-
cesses the right to found their suits
for redress upon the facts and judg-
ments proved and entered in suits by
the government where the govern
ment has upon its own initiative sued
the combinations complained of and
won It's suit, xHd that the statute of
limitations shall be suffered to run
against such litigants only from the
date of the conclusion Of the govern
ment's action. 1t is not fair that the
private litigant should be obliged to
set up and establish age In the facts
which the government has proved.
He can not AFFORD, he has not the
power. to make use Of such processes
of inquiry as the government has
command OF. Thus shall individual
Justice be done while the processes
of business are rectihed and squared
with the general conscience.
ID