Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-20

clearness, the great harm and injus-
tice which mas been done 70 many,
II not all of the great railroad sys-
TENS Of the country by the way in
which they have been financed and
their own distinctive interests subor-
dinated 10 the interests Of the man
who financed them and OF other bust
ness enterprises which those men
wished to promote.
The country is ready therefore to
accept, and accept with relief as well
as approval, a law which will confer
upon the Interstate Commerce Com
mission the power TO superintend and
regulate the financial operations by
which the railroads arc henceforth to
be 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
can not postpone action in this mat
ter without leaving the railroads ex-
posed to many serious handicaps and
hazards, and the prosperity Of the
railroads and the prosperity Of the
country are inseparably connected.
A Very important Step.
Upon this question those who arc
chiefly responsible for the actual
management and operation OF the
railroads have spoken very plainly
and very earnestly, with a purpose
we ought to be quick to accept It
will be one step, and very impor-
tant one. toward the necessary sep
aration of the business of the trans
pOrtation companies
The business Of the country
awaits alsp-has long waited-and
has suffered because it could not OBJ
tain further and more explicit legis-
lative dcfnitive OF the policy and
meaning Of the existing antitrust
laws Nothing hampers business like
uncertainty. Nothing daunts or dis
courages it like the necessity to take
chances, to run the risk of falling
under the condemnation Of the law
before it can make sure just what
the law is
Surely We are sufficiently familiar
with the actual processes and meth
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
abuEdanty disclosed, can be explicit
ly and, item by item, forbidden by
statute in such terms as will practi-
Cally eliminate uncertainty. the law
itself and the penalty being made
equally plain,
Business Desires Guidance.
And the business men of the
country desire something more than
that the menace of legal process in
these matters be made explicit and
Ineligible. They desire the advice,
I he Ia6 nj do n =
ton which can be supplied by an ad-
ministrative body and interstate trade
commission.
THE opinion of the country would
instantly approve of such a commits
sion. 1t would not wish to see 1t en-
powered to make terms with mo-
nopoly or In any sort to assume con
troll of business, as II the Government
made itself responsible. 1t demands
such a commission only as an indis-
pensable instrument of information
and publicity, as a clearing house for
the facts by which both the public
mind and the managers of great bust
ness undertakings should be guided
and as an instrumentality for doing
Justice to business where the pro-
Cesses OF the courts or the naturaI
forces of correction outside the courts
are inadequate to adjust the remedy
to the wrong in a way that will meet
all the equities and circumstances OF
the case
Producing industries. for exam
pie, which have passed the point VI
to which combination may be consis-
tent With the public interest and tn,
freedom of trade, can not always BE-
disseCted into their component units
as readily as railroad companies oil
similar organizat tons can be. Theil
dissolution by ordinary legal process,
may oftentimes involve financial con,
sequences likely to overwhelm the Sc
curty market and bring upon i
breakdown and confusion. There
ought to be an administrative com
mission capable of directing anC
shaping such corrective measures
not only in aid OF the courts, but alsC
by independent suggestion, if neces
sary
For Individual Guilt.
"lnasmuCh as our object and tn,
spirit of our action in these matters
is to meet business halfway in it
processes Of self correction and dis
turb its legitimate course as little al
possible, we ought to see to it. an'
!