The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1914-01-30

stood that we desire the laws we are
now about to pass to be the bulwarks
and safeguards of industry aga1snt the
forces that have disturbed it. What we
have to do can be done in new spirit
in thoughtful moderation, without rev.
olution of any untoward Kind:
1--WE are all agreed that private mo-
nopoly is indefensible and intolerable'
and our programme is founded on that
conviction. It will be q comparative
but not a radical or unacceptable pro-
gramme and these are its Items, the
changes which opinion deliberately
sanctions and for which business waits:
'It awaits with acquiescence, IN the
first place, for laws which will effect
ually prohibit and prevent such inter-
locking of the personnel Of the direc-
torates of great corporations-banks
and railroads, industrial, commercial
and public service bodies-as in effect
result in making those who borrow and
those who lend practically one and the
same those who sell and those who buy
the same persons trading with one an
other under different names and in diff
ferent combinations, and those who al
feet to compete in fact partners and
masters of some whole field OF business.
Sufficient time should be allowed. OF
course, in which to effect these changes
Of organizations, without Inconvenience
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 In
dependent industrial management
working in it's own behoof. It will
bring new men. new energies, a new
- It'll iof
management of our great business en-
terprises. It will open the field Of in
dustrial development to scores OF men
who have been obliged to serve when
their abilities entitled them to direct.
It will immensely hearten the young
men coming on and will greatly enrich
the business activities Of the whole
country.
TN the second place, business men as
well as those who direct public affairs
now recognize, and recognize with pain
full clearness, the great harm and In
Justice which has been done to many. II
not all, Of the great railroad systems
Of the country by the way In which
they have been financed and their own
distinctive interests subordinated to the
interests of the men who financed them
and of other busin ness enterprises which
those men wished to promote. The
country lis ready, therefore, to accept,
and accept with relief, as well as ap-
prevail a law which will confer on the
Interstate Commerce Commission the
power to superintend and regulate the
financial operations by which the rail-
roads are henceforth to be supplied
with the money they need for their
proper development to meet the rapidly
growing requirements Of the country
for increased and improved facilities of
transportation. We cannot postpone
action in this matter without leaving
the railroads exposed to many serious
handicaps and hazards; and the pros
perity Of the railroads and the pros
perity Of the country are inseparably
| connected. Upon this question those
who are chiefly responsible for the
actual management and operation OF
the railroads, have spoken very plain
ly and very earnestly, with a purpose
we ought to be quick to accept. It will
be one step. and a very important one.
toward the necessary separation Of the
business Of production from the busi-
ness OF transportation.
"The business Of the country awaits
also, has long awaited and has suffered
because 1t could not obtain, further and
more explicit legislative definition OF
the policy and meaning Of the existing
antitrust law. Nothing hampers bust
ness like uncertainty. Nothing daunts
nor discourages it like the necessity to
take chances, to run the risk OF falling
under the condemnation Of the law be-
fore it can make sure Just what the law
is. Surely we are sufficiently familiar
with the actual processes and methods
Of monopoly and Of the many hurtful
restraints Of trade to make definition
possible, at any rate up to the limits
| Of what experience has disclosed. These
| practices, being now abundant1y dis
closed, can be explicitly and item by
| item forbidden by statute in such terms
as will practically eliminate uncertain
| ty. the law itself and the penalty being
made equally plain.
| "And the business men Of the coun-
| try desire something more than that
| the menace Of legal process in the
| matters be made explicit and intelli-
gible. They desire the advice, the
| definite guidance and information
which can be supplied by an admin
istrative body, an interstate trade
commission.
.The opinion OF the country would
instantly approve Of such q commits
| sion. It would not wish to see it EN-
powered to make terms with monopoly
| or in any sort to assume control OF
| business, as If the Government made
| itself responsible. It demands such q
commission only as an indispensable
| instrument Of information and pub
licity, as clearing for the facts
j by which both the public mind and
/ the managers Of great business under
/ takings should be guided, and as an
fundamentally for doing justice to
business where the processes OF the
/ ----- - M - $500 ---- = ---