Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1914-01-20

business waits
II awaits with ncqulcscence, IN the
first place for lave which will cf-
feotually prohibit lpd prevent such
lnterlockinRs Of the personnel of the
dlrectorates of great corporations
banks and railroads Industrial. com-
mcrclal and pubic service bodies-us
In effect result in making those who
borrow and those who lend practical.
ly ono and the same. those who soil
and those who bus, bui the same por-
sons trading with one another under
diGeren, names and ln different COM
blnationa. and those who AFFECT toI
compete. in fact partners aud masters
of some whole neid of business. suf-
ficieht time should bo allowed. off
course. Ia which tu effect these
changes OF organization. without in-
convenience OF confusion.
such proposition 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 usurpcd the place which belongs
tn independent iu0ustrial manarcmrut
working in its own behalf u will
bring new mep, new cnergioH, now
spirit 81 Initiative new blood into
the management of our great business
enterprises II will oprn the field ni
industrial development and origina-
ton to scores Of m"u who have hoen
obliged 10 serve when their abilities
entitled them 20 direct u viii Inn
mensvly hearten the young man COM
Ing on and viii greatly enrich the
business activities of the whole coun-
try.
lin the second place businoee men
as well as those who direct public af-
fairs now recoRnigc, ond recornizo
With painful clenruoss. the great
harm and Injustice which has been
done 90 many. IN not ull. OF the great
railroad systems OF the country by the
way In which they have been nnnncod
aud their own distinctive interests
subordinnted TO the interests OF the
men who financed them and OF other
business enierprises which those men
wished Co promote. The country is
ready, therefore, 90 accept, ana ace
ccpt with relief, as well as approval
law which viii confer on the inter
state commerce commission the power
10 supcrintend and resulatc the hnan-
cial operations by which the railroads
are hcnccforih 20 be- supplied with
the money they nocd for their proper
/ development 10 meet The rapidly
growing requirements 0f the country
for increased and improved facilities
of transportation. We cannot post-
ponc action boz this matter without
leaving the railroads exposed "a many
serious haudicaps and hazards, and
the prosperity Of the railroads and
the prosperity of the country are in
scparably connected Upon this ques-
tion those who are chiefly rosponsi-
bic for the actual management and
| operation of the railroads have spoken
very plainly and very earnestly. with
"a purpose We uughi TO- 1e quick to ac-
ccpt 10 will boz one step. and very
important one toward the necessary
separation of the business OF produc-
tion from the business OF transporto-
tion.
THE business of the country awaits
also, has long awaited and has sur
fered because u could not obtain,
further and more explicit legislative
definition of the policy and mcaning
of the existing anti-trust law Noth-
ina hampers business likc uncertainty.
Nothing dnunts nor dlscourares u
like the necessity to take chances. 20
run the risk ot falilng under the con-
demnation OF the law before it can
make sure Just what the law b.. Sure
/ " We are sufficiently familiar with
the actual processes and methods ~
monopoly and of the many hurtful re-
stralnts Of trade to make definition
possible. at ans rate up 10 the limit
OF what experience has disclosed.
These practice belnE now abundant
| Is disclosed, can be explicitly and
item by item forbidden hy statute in
such terms as win practically eiim-
mate uncertainty the law itself and
the penalty ncing made equally plain.
And the business men OF the coun-
| Try desire something more than that
the menace of legal process ln those
matters he made explicit and intel
! iieihie. They desire the advice, the
! definite guidance and Information
which can Dee supplied hy au admin
istrative body and Interstate trade
commission lt would not wish to see
| Il empowered t0 make terms with
MONOPOLY ur Boa any sort to assume
control OF business, az m the govern-
ment made itself responsible n de-
mands such o. commission only HH an
Indispensable instrument of informa-
tion ana pubuciiy as a clearing house
for the facts hl which both the public
mind and Inc managers ol great bus-
mess undert3Elngs should bo guided,
and as an instrumentahiS for doing
ssstico 90 business where the proc
cesses of tnc gourts or the natural
forces of correction outside the courts
are inadequate to adjust the remedy
to the wrong boz "a way that will meet
all the cquities and circumstance OF
the case.
"Producing Industries. for example,
which have p1ssed the paint up TO
which combination may be- consistent
with thc public interest ANA the treo-
dom of trEd, ctnnot always be dis.
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