The Washington herald., 1914-01-21

bean financed and their own distinctive
interests oubordinatsd to the interests OF
men Who nnsnced them and Of other bus.
iness enterprises which those men wished
to promots. The country 10 ready. there
fore, to accept and accept with RELIEF e
wen - approval. law which win CONFER
upon the interstate Commerce Commis-
lion the power to 1upsrintend and regu-
late the financial operations by which the
railroads are henceforth to be supplied
Win the, money they need for their proper
development to meet the rapidly GROWING
reouiroments Of the country for increased
and improved facilities Of transportat1op.
We can not postpone action In this mai
ter without leaving the railroads exposed
to many serious handicaps and hazards;
and the prosperity Of the railroads and
the prosperity Of the country are insep-
arably connected. Upon this question tnose
who are chiefly responsible for the actual
management and operation Of the raii-
roads have spoksn very plainly and very
earnestly, with Q purpose We ought 10
be auick to accept. Il will be one step,
and . very Important ons. toward the
neceesary separstion of the business OF
production from the business OF trans-
portation.
Deanitio. Of Antitrust Law.
TIE Svss.ess Of the country swait.
also, hao loag aWa1ted - hes soaefee
Secause Il could not obtain, further sse
mere explicit legislative deanftfon OF
the policy ana meaning ef the exisuns
anti.trust law. Nothing hanDe1s bus1-
-. I,ke Uncertainty. Nothino dsunts
o. 6iscouraGes II like the necessity 10
tske eAauees, to rsa the fbk Of falling
u,aer the cspAennntioa Of the law be-
fore n can make sure Just WHIST that
lsw n.
Surely We are suficientIy familiar with
the actual processes and methods OF mo
nopoly and Of the many hurtful restraints
of trade to make definition possible, AT
any rate up to the limits OF what expe-
rience has disclosed. These practices
being now abundantly disclosed. can be
explicitly and item by item by item Tor
hidden by statute in such terms as VIII
practically eliminate uncertainty. the law
itself and the penalty being made equally
plain.
And the business men Of this country
desire something more than that the
menace Of legal process In these matters
be made explicit and intelbgioie. They
desire the advice, the definite guidance
and information which can be supplied by
an administrative body. an interstate
trade commission.
The opinion Of the country would in
stantly approve Of such a commission.
II would not wish to see II empowered to
make terms with monopoly or In any sort
to assume control OF business, as IL the
government made itself responsible. 1t
demands such q commission only as an
instrument of information
and publicity, as q clearing house for the
facts by which both the public mind and
,,x,lA
takings should be guided. and as an in
for doing Justice to busi-
ness where the processes of the courts or
the natural forces of correction outside
the courts are inadequate to adjust the
remedy to the wrong in q way that will
meet all the equities and circumstances
of the case.
Method Of Dissslltion.
Producing industries, for example,
which have passed the point up to which
may be consistent with the
public interest and the freedom of trade.
cannot always be dissected into their
component units as readily as railroad
or similar organizations can
be. Their dissolution by ordinary legal
process may oftentimes involve financial
likely to overwhelm the Sc
curity market and bring upon It break
down and confusion. There ought to be
an administrative commission capable of
directing and shaping such corrective
processes, not only in aid OF the courts
but also by independent suggestion. IL
necessary.
Inasmuch ~ eur object and the spirit
pf our action f1 these matters In to
meet business half way In its processes
pf self-eorrection and disturb its leEit-
lnate course as little as possible, we
pught to see to II, asd the judgment of
practical and sagaeious men Of affairs
everywhere would applaud NJ II we did
see to II, that penalties and punish
8eats should fall, not upon business IT.
self, to its confusion and Interruption,
but upon the indfv1duals who use the