The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1914-01-20

Tor Anywhere seriously 10 break ii
established courses athWart on the
contrary we desire the laws we are
row about to pass to be the ibulw arks
and safeguards OF industries IN, the
forces that have disturbed #. What
We have to do can he done In new
spirit, in thoughtfuI moderation.
without revolution of4any untowartl
kind.
We are all agreed that private
monopoly Is indefensfhle and intoler-
able, and our program is founded
upon that conviction. 1T viii lbe a
comprehensive but not a radical or
unacceptable program and these are
It's items, the changes which opinion
deliberately sanctions and for which
business watts:
sit waits with acquiescence. In the
spirit of peace, for laws which Will
effectually prohibit and prevent such
.nterloekings 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 pTac-
tieally one and the same, those VINO
sell and those who buy hut the same
persons trading with one another I'M
der different names and in different
combinations, and those AFFECT TO
compete in fact partners and masters
OF some whole field of business.
Sufficient time should be allowed, or
course, In which to effect these
changes OF organization, without in
or confusion.
Such a prohibition will work much
more than a mere negative good by
correcting the serious evils which nave
arisen because, for example, the men
who have been the directing spirits
of the great investment banks have
usurped the place which belongs toI
Industrial management
working in its own BEHALF. 1t VIII
bring new men, new energies. new
spirit of initiation. new blood. into
the management of our great business
1t will open the field OF
Industrial development and ortgtna-
ton to scores of men who have been
Obliged to serve when their abilities
entitled them to direct. 1t VIII I'M
mensely hearten the young men COM
ing on and will greatly enrich the
business activities Of the whole coun-
try.
Financing Railroads.
..In the second place, business men
as we'll as those who direct pubic
affairs now recognize, and recognize
with painful clearness, the great harm
and injustice which have been done to
many. if not all, of the great rail-
road systems of the country by the
way in which they have been financed
and their own distinctive interests1
to the Interests OF the
men who financed them and of other
business enterprises which those men
wished to promote. The country is
ready, therefore, to accept, and accept
with relief as well as approval, law
which will confer upon the inter
state Commerce Commission the pow
or ia superintend and regulate the
financial operations by which the RAM
roads are henceforth to be supplied
with the money they need for thelr
nroper development to meet the RAPID
" growing requirements of the coun-
try for Increased and improved facltl-
ties of transportation. We cannoI
action in this matter Win
out leaving the railroads e1poseo ~
MANY serious handicaps and hazards
and the prosperity of the railroads and
the prosperity of the country are IN
senarably connected. Upon this ques-
tion those who are chiefly responsible
for the actual management ana opera
+ion of the railroads have spoken very
plainly and very earnestly, with
purpose we ought to be quick 70 ac-
cent 1t will be one step, and Very
important one, toWdAu SAAS - 49,
senaration of the business OF produc
ton from the business OF transports
ton.
"The business of the country has
suffered because it could not obtain
further and more explicit legisiat..Ns
5afnftion and more explicit leglsla tlVe
If the existing anti-trust law NoIhlns
I1srnners business like uncertainty
Nothing daunts or discourages y ms ms
- = necessity to take chances, to run
the risk Of falling under the condenl-
of the law before 1t can make
sure inst what the law, is surrey We
ara s1IficientIy familiar with the act
col n-ocesses and methods OF monop-
oI,t and az the many hurtful restraints
- .+rada Ia make definition possible,
~ ~ rate IN to the limits OF what
e,,nerience has disclosed. These prac-
go being now .abundantly disclosed
,a,1 he exnlicitly and item by item
sovbidden by statute in such terms ae
viii practically eliminate unceFtalnly'
the law itself and the penalty pelAs
made equally plain.
Interstate Trade Commission
"And the business men of the Gun
-, 5es,Te something more than that
,,,.nece If legal process I'm THESE mat
tore he made explicit and intelIlsl LIt.
Trey desire the advice. the az. l1,s
Guidance and Information Wh-cn c ~.
be supplied by an administrative oouSg
an Interstate trade commission:
..The oi.fnion of the couatr E mo lie
Instantly approve of such co y n-19-
sion 1t would not wish 90 see -t - al,
powered to make terms Win l l.S.,.,I ~
~ IN any sort to assume contIoa a. -