The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1914-01-22

untoward kind.
Private Monopoly Intoiersble
we are all agreed that private
/ monopoly is indefensible and intoler
able, and our program is founded upon
that conviction. 1t will be compre
hensive but not a radical or unaccept
able program, and these are Its items
the changes which opinion deliberately
sanctions and for which business
| waits
| 1T awaits with acqulesence In the
! first place for laws which will eff
fectually prohibit and prevent such
| interlockings of the personnel OF the
! directorates of great corporations
! banks and railroads, industrial, com
| mercial 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 ana
! those who buy but the same persons
| trading with one another under dit
| ferent names and in different combina-
| tions and those whose AFFECT TO com
pete, in fact. partners and masters OF
some whole field OF business. sur
| flcient time should be allowed, OK
| course In which to effect these
| changes of organization without In
| convenience or confusion.
Such a prohibition will work much
more than a mere negative good by
| correcting the serious evils when
have arisen because, for example, the
men who have been the directing
! spirits OF the great Investment banks
| have ursurped the place which De
| longs to independent industrial man
| agement working in its behoof. IL
will bring new men. new energies,
| new spirit OF initiative. new blood
! into the management OF our great
business enterprises.
Harm and Injustice Done.
In the second place, business men,
as well as those who direct public af-
| fairs, now recognize and recognize
with painful clearness, the great harm
/ and Injustice 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 ana
| their own distinctive intereste SUI
bordinated to the interests of the mon
who financed them and Of their bust
ness enterprises which those men
wished to promote.
THE country Is ready therefore to
! accept and accept with relief as well
as approval, Il Law which will confer
| upon the interstate commerce com
mission the power to superintend and
regulate the financial operations by
which the railroads are henceforth to
he supplied with the money they need
for their proper development TO meet
the rapidly growing requirements Of
the country for increased and i'm
proved facilities OF transportation We
cannot postpone action in this matter
without leaving the railroads exposed
to many serious handcaps and haz-
ards; and the prosperity Of the rail
roads and the prosperity OF the coun-
try are inseparably connected. Upon
this question those who are chiefly
responsible for the actual manage
ment and operation of the railroads
have spoken very plainly and very
earnestly, with a purpose we ought TO
be quick TO accept 1t. II will be one step
and very important one, toward the
) necessary separation of the business
, Of production from the business OF
transportation
! THE business of the country awaits
also, has long awaited and has suf-
fered because 1t could not obtain fur
ther and more explicit legislative def
milton of the policy and meaning OF
the existing antitrust laws. Nothing
hampers business like uncertainty
Definition Now Possible.
Surely We are sufficiently familiar
, DDS 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 dis
, closed. These practices, being now
, abundantly disclosed, can be expIic
, lily and item by item, forbidden by
statute in such terms AS will prac
, tically eliminate uncertainty. the law
, itself and the penalty being made
, equally plain.
I And the business men OF the
country desire something more thar
, that the menace OF loga! process in
, these matters be made explicit and in
, telligible. They desire the advice, tn.
definite guidance and information
which can be supplied by an admin
istratiye body, an Interstate trade
, commission
The opinion OF the country Woult
Z instantly approve Of such a commits
, sion. It would not wish to see il en-
| powered to make terms with monop
/ oily or in any sort to assume contro
made itself responsible /, demands
such a commission only M an indis
, pensible instrument OF information
and publicity, as a clearing house 70
the facts by which both the publ,
mind and the managers Of great bust
ness undertakings should be guided
r and as an fundamentally for donj
, Justice 10 business where the process
} es OF the courts or the natural force
of correction outside the courts ar,
inadequate to adjust the remedy {,
, the wrong in way that will meet al
, the equities and circumstances OF tn
case.
All In the Family.
Suburbs The minister out in on
place won't marry YOU unless Won hay