St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1914-01-28

providing that the statute of limita-
lions against such claims shall begin
to run from the date of the conclu-
sion of the Government suit.
The democrats promptly introduce
ed four bills carrying out the recon-
mendations of the president. They
| are:-
L. A bill creating the Interstate
Trade Commission; CD A bill to
regulate directorates of corporations
and to prohibit interlocking director
ates; CD A bill defining unlawful
monopoly or restraints of trade; a.
The trade relations bill, which among
other things forbids unfair trade
practices, such as underselling in one
locality to stif1e competition and re-
coupling the losses thus sustained by
raising prices in localities where there
is no competition. The bill forbid
ding interlocking directorates pro-
vides two years of leeway, during
which the holding membership on
the boards of directors of interstate
&OaAg oACNA anu AAOAS COhlAOA CdI1lGI
corporations, banks and trust COM
panies may be relinquished. A sec
ond section of the bill specifically
forbids the holding of directorships
by one individual in two or more
financial institutions enjoying the
protection and provisions Of the new
currency law. A fine of 500 for
every day during which the provisions
of the foregoing section are violated
is provided. A fourth section establi-
shes the dictum that disobedience of
the eliminating provisions of the
measure shall be sufficient to consti-
tute conclusive evidence of infringe
ment of the Sherman antitrust law
itself by the corporations whose
boards contain Implications of indi-
vidual directorships. The bill to
poles and restraints of trade specifi-
cally forbids the following: Combina-
tions to create or carry out restric-
lions in trade or to acquire a monopo-
ly in any interstate trade business or
commerce.; to limit or reduce the pro-
duction or increase the price of mer-
chandise or of any commodity; to
prevent competition in the manufac-
turing, making, transporting, selling
or purchasing of merchandise, pro-
duce or any commodity; to make an
agreement, arrangement or under
standing, directly or indirectly, to
prevent the free and unrestricted
competition in the sale, production
or transportation. The penalties for
violating any of these provisions run
against any person, firm or corpora
ton, and the fine shall not exceed
$4,000, with imprisonment for one
year as an alternative, or both penal
ties, in the discretion of the court.
A section of the bill makes the Of
ficers, directors and agents of the
corporation equally guilty with the
for any acts proved
against the corporation. The trade !
relations bill proposes to add five |
sections to the Sherman law, defining
what shall be cIassed as unlawful |
trade practices. Another section of |
his bill permits an injured party to |
AXE advantage of proofs established |
by the Government as to the charac-
er of any unlawful combination in
he suit against such corporation to
'ecover damages under the Sherman
aw. A section of the antitrust pro-
sramme specifically prohibiting hold
ng companies is to be added later.
Here is the democratic program.
Many of its objects seem commend
Lble but there is some question
whether or not they are attempting
o do too much. For instance the
.ttempt to define exactly what shall
e violations of the Sherman law is
liable to limit the application of that
ct much more than the present law
oes. The enumeration of certain
cts as violations of the law implies
hat nothing outside of the named
fenses is an offense. 1t will also
ndo much that has been done under
hat act. 1t has taken many years
f litigation, many careful decisions ,
D determine the extent and power /
f the present law. The present law s
as been found Ito prohibit $
very attempt to restrict interstate :
Ommerce and it will be many more ]
ears before the real force of any &
Ranges can be as definitely and firm $
z established as the present law :
he present law has compelled many
legal combinations to dissolve and
s validity is so we'll known that
lany other combinations have volun- v
lrily dissolved when the govern a
lent showed them they were viola y
,rs of it. \
The real trouble with the Sherman n
Nv is not its weakness or uncertain