The Meridian times. (Meridian, Idaho) 1909-1938, 1914-01-30

JuStlCt W DuslUSSs WHERE the pTOESSS% |
es OF the courts or the natural forces
OF correction 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 sim
liar organizations can be. Their dis
solution by ordinary legal process may
oftentimes involve financial conse-
quences likely to oyerwhelm the se-
curity market and bring Upon 1t break
down and confusion. ihere ought to
be an administrative commission ca
pable OF directing and shaping such
corrective processes, not only In aid
of the courts but also by indepndent
suggestion, IL necessary.
Make Punishment Certain.
"Inasmuch as our object and the
spirit of our action .n these matters
is to meet business half way In it's
processes of self-ccrection and dis
turb its legitimate course as little as
possible, we ought to see to 1t, and the
Judgment of practical and sagacious
men of affairs everywhere would APP
plaud US If we did see to it that pen
alties and punishments should fall,
not upon business itself, to its confu-
sion and interruption, but upon the
| individuals who use the instrumental
Titles of business to do things which
| public policy and sound business prac-
| tice condemn. Every act of business
| is done at the command or upon the
| initiative of some ascertainable per-
son or group of persons. These should
be held individually responsible and
the punishment should fall upon them,
not upon the business organization OF
| which they make illegal use. 1t should
be one of the main objects of our leg
islation to diyest such persons of
their corporate cloak and deal with
them as with those who do not rep
resent their corporations, but merely
by deliberate intention break the law.
Business men the country through
would, / am sure, applaud US If we
were to take effectual steps to see
that the officers and directors of great
bodies were prevented from bringing
them and the business of the country
into disrepute and danger.
"Other questions remain which will
need very thoughtful and practical
treatment Enterprises, in these mod
ern days OF great individual fortunes
are oftentimes interlocked, not by
being under the control of the same
directors, but by the fact that the
greater part of their corporate stocf
} is owned by a single person or grouI
of persons who are in some way in
timately related in interest
Holding Companies.
I'VE are agreed, take it. that hold
ing companies should be prohibited
! but what of the controlling privat'
ownership of individuals or actual,
, cooperative groups of individuals
! Shall the private owners of capita
r stock be suffered to be themselves II
/. effect holding companies? We do no
i wish, suppose, to forbid the pun
' chase of stocks by any person VIII
! pleases to buy them in such quaint
4 ties as he can afford, or in any wa
I arbitrarily to limit the sale of stock
f to bonafide purchasers. Shall we re
i uuire the owners of stock, when thei
e voting power in several companie
r which ought to be independent of on
d another would constitute actual col
q troll to make selection in which c
l. them they will exercise their right
i vote? This question / venture fo
n your consideration.
y There is another matter in whic
= imperative considerations of justic
IS and fair play suggests thoughtf'
y remedial action. Not only do man
Q Of the combinations effected or sougl
p to be effected in the industrial worl
le work an injustice upon the public
IS general; they also directly and SCI
of ously injure the individuals who al
put out of business in one fair way
70 anOtn9r Dy the many ulSlOu6LhS a.
f. discriminating forces of combinatio
r hope that we shall agree in giyir
f. private individuals who claim to ha'
Of been injured by these processes Il
lg right to found their suits for redre
y. upon the facts and judgments Prov
Re and entered in suits by the COVER
IN ment where the government has upc
n its own initiative sued the combin
Re lions complained of and won its su
and that the statute of Limitation
shall be suffered to run against SUI
ar litigants only fir % the date of Z
h conclusion Of the governments actio
~ Individual Justice.
- ut is not fair that the private II
l. CANT should be Obliged to set up a.
W. establish again the facts which t
Il. government has proved. Vie cam
~ AFFORD, he has not the power to ma
=. use of such processes Of inquiry
and