New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-11
William II. ChiIds Would
Have Trade Body Advise
Business Men.
SEES GREAT GRAFT
IN PROPOSED BILL
James E. Bennett Warns Congress
of Too Much Power In Meas
ure as Drawn.
From The Tribune Bureau


Washington, Feb 10.-Creation of the
proposed interstate trade commission as
! substitute for high priced lawyers TO ad-
wise business men what they can ana
cannot do In relation TO the sherman law
was urged to-day before the Senate Inter
state Commerce and Judiciary commit
tees by William r.. Childs. OF New YORK.
representing the American Coal Tar Prod
ucts Company.
TOO many lawyers and too much Ia"
are what are bothering business to-day"
said Mr. Childs. IT think the interstate
trade commission could exercise func-
tons which would aid business men so
that they would not have 10 consult OK
pensive lawyers every time they wished
10 make some new move, consolidate
some companies or buy some property
which they are not certain is permissible
under the antitrust act"
Chairman Anderson retorted that 1t was
not a federal function for the government
10 usurp the lawyers profession and be-
come a free-for-all bureau OF information
and legal adviser to business men.
You believe. tl.en. that il the commits
sion could not perform this function IT
would not he worth the paper II is written
on" asked Representative O'Shaunessy.
That's exactly the case Mr.. Chlds
replied.
The witness declared that price liking
by law, as proposed in the administration
measure. vas not feasible and was highly
undesirable 1T would not be workable,
he said ANY attempt by Congress 20
provide a hard and fast schedule of prices
would be contrary TO ancient and fixed
rules OF economics"
That the Democratic scheme will not
adequately reach the evil or interlocking
directorates and will instead increase
the number OF dummy directors was
asserted by Mr.. Childs.
The dummy director il now one OF the
worst phases of conditions against which
there is so much popular and iusti1able
public complaint" said Mr.. Childs. This
bill would only increase that evil and the
popular csmor. You should guard care
fully against clearing the path for dunn
mics on boards of directors
James f. Bennett. OF New York, repre-
senting printing press, paper and book
binding corporations, declared the trade
commission bill would open UP the
loveliest graft OF century, and that
the trade commission might exercise IN
ouisitoraI powers which would be more
tremendous than anything Russia ever
had"
Graft would be widespread unless this
bill is perfected" said Mr. Bennett.
thousands Of special agents of the com
mission would he roaming all over the
country, prying into vital secrets Of hun
dreds OF corporations These men would
have no qualification for office aside from
political pull. Their reports would be
practically binding upon any corporation.
They would be exposed to influences
They would be open TO temptation.
Democrats OF the Senate Interstate
Commerce Committee are ready TO con-
suit the President with regard TO proposed
amendments to the tentative antitrust
bills. and conference has been arranged
at the White House for tomorrow. Re-
nublican Senators on the committee have
been urged TO join in this conference. IL
Is the purpose of the administration lead
ers TO keep the trust question out OF
party caucus if possible. and TO this end
the Republicans are being urged TO take
part in the framing Of the bills in com
mittee.