Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-01-21
body, an interstate trade

1.-THE opinion of the country would
instantly approve of such a commits
sion. It would not wish to see it en-
powered to make term with monopoly
or in any sort to assume control OF
business, as If the government MADE
Itself responsible. 1t demands such
commission only as an indispensable
instruemnt of information and public
ity, as a clearing house for the facts
by which both the public mind ana
the managers of great business under
takings should be guided, and as an
fundamentally for doing justice to
business where the processes of the
courts or the natural forces of eorrec-
ton outside the courts are inadequate
to adjust the remedy to the wrong in
way that will meet all the equities
and circumstances of the case.
producing industries for example,
which have passed the point up TO
which combination may be consistent
with the public interest and the free
dom of trade, cannot always be dis
sected into their component units as
readily as railroad companies or SINH
lar organizations can be. Their dis
solution by ordinary legal process may
oftentimes involve financial conse-
ouences likely to overwhelm the Sc
curity market and bring upon II
breakdown and confusion. There
ought to be an administrative COM
mission capable of directing and shap-
ing such corrective processes. not only
In aid of the courts but also by inde-
pendent suggestions, If necessary.
"Inasmuch as our object and the
spirit of our action in these matters
is to meet business half way In It's
processes of self-correction ana dis
turb its legitimate course as little as
possible, we ought to see to 1t, and the
Judgment of practical and sagaelous
men of affairs everywhere would ap-
plaud Us if we did see to it, that PEN
alties and punishments should FALL not
upon business itself, to its confusion
and interruption. but upon the indlVld-
uals who use the instrumentaiitles Oh
business to do things which pubic pol
lev and sound business practice con-
denim. Every act of business is zone
at the command or upon the initiative
of some ascertainable person or group
of nersons. These should be held IN
dividually responsible and the punish
ment should fall upon them, not upon
the business organization OF when
they make Illegal use. 1t should De
one of the main objects of our legis-
iation to divest such persons of their
corporate cloak and deal with thenl
al with those who do not represent
their corporations, but merely py oe-
uberate intention break the law
business men the country through
would. am sure, applaud us II we
were to take effectual steps TO see ina
the officers and directors of great ousi-
pess bodies were prevented from BRING
,nr them ard the business or the
country into disrepute and danger
"Other questions remain which VIII
need very thoughtful and practlcai
treatment. Enterprises, In these moo-
ern DAYS of great individual fortunes
ssre oftentimes interloeked, not by pe-
INC under the control of the same III
rectors. but by the fact that the great
err mart of their corporate STOCK 10
owned by single person or group u
nersons who are in some way intimate
ly related in interest. we are asreeu'
T take it. that holding companies
should be prohibited, but what OIL the
controlling private ownership Oh III
diyiduals?-or, actually co-opefa'ise
ero,ns of individuals? Shall the prl-
waite owners of capital stock be suiier-
cd To be themselves in erect holuiile
oor,naniesp We do not wish, / sup
nose TO forbid the purchase OF stocks
~, orv nerson who pleased to buy
t,,er, in such quantities as he can al
ford. or in any way arbitrarily TO iliii'
the sale of stocks to bona iloe pui-
chasers. Shall we require the oWheiS
If stock. when their voting power III
several companies which ought 10 NC
,,aanenaent OF one another would con-
ot,+,,te actual control, to make eleeuons
i'm which of them they Will exercise
their right to vote? This question
venture for your consideration.
@rhere is another matter in when
imperative considerations or Jusuce
and fair play suggest thoughtfui rene
dial action. Not only do many OF the
combinations effected or sought TO De
effected in the industrial world WORK
an irjustice upon the public in gener-
al. they also directly and seriously
iniure the individuals who are put oo'
of business in one unfair way OF an
other by the many disiodging ana eA1
terminating forces Of combination
hone that we shall agree in giving pri-
vate individuals who claim to nave
been injured by these processes the
RIGHT 70 found their suits for redress
mon the facts and judgments proved
and entered in suits by the govern
man, where the government has upon
,ts own initiative sued the comblna-
lions complained of and won it's suit,
ord that the statute Of limitations
shall be suffered to run against such
ltisants only from the date OF the
conclusion Of the government action
II is not fair that the private litlgant
should be obliged to set up ana es-
tablish again the facts which the gov
eminent has proved. He cannot al