Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1914-01-30


unsettie business or anywhere serious
" to break Its established courses
athwart On the contrary. We desire
the laws We are now about to pass 20
be the hulwarks and safeguards Of In.
dustry against the forces that have
disturbed IL What we have TO do can
be done In a new spirit. In thoughtful
moderation. without revolution Of "a
untoward kind
Private Monopoly iatolsrahss
we are all agreed that private
monopoly Is indefsnslhle and intoler,
able, and our program ls founded upon
that conviction. Il viii be = compre-
hensive but not radical or unAecept.
able program. and these are lie items.
the changes which opinion deliberately
sanctions and for which business
waits.
1t awaits with aeuuiesence In the
tirst place for laes which will Of
fectually prohibit and prevent such
interlockings OF tn. personnel of the
direotorates OF great corporations
banks and railroad.a industrial, com
mercial and public service bodies-as
in effect result In .uakinE those who
borrow and those 1ho lend practical.
ly one and the SAFE. those who sell
aud those who buy but the same per
sons trading with ,ue another under
different names AM In different com.
blnations. and thoAa whose affect TO
compete In fact. pArtners and masters
OF some whole fiele OF business. SUI.
tieient time should be allowed, of
course. In which 10 effect these
changes of organisa lion without incon.
venienee or confusion.
Such a prohibition will work much
more than a mere negative good by
correcting the serious evils which
have arisen because. for example, the
men who have been the directing
spirits of the great Investment banks
have usurped the place which belongs
to independent Industrial management
working In It's behoot II will hring
new men, new energies. new spirit
of initiative. new blood into the man
agement of our great business enter
prises. II will open the field OF In
dustriai development and originatIon
20 scores OF men who have been
Obliged to serve when their abilities
entitled them to direct. IL viii i'm,
mensely hearten the young men com.
ing on and win greatly enrich the
business activities Of the whole coun'
try.
Harm and Injustice Done.
I'm the second place. business men,
az well an those who direct public af.
fairs now recognize, and recognize
with painful clearness. the great harm
and injustice which has been done 70
many, II not all, Of the great railroad
systems or the country BY the way
in which they have been financed and
their own distinctive interests aubordi'
mated 10 the interests 81 the men
who financed them and OF other buai-
ness enterprises which those men
wished 10 promote.
THE country Ii ready therefore n
accept and accept with relief a. well
AZ approval. a law which win confer
upon the interstate commerce com
mission the power TO euperintand and
regulate the financial operations By
which the railroads are henceforth u
be supplied with the money they need
for their proper development 10 meet
the rapidly growing requirements 0i
the country for increased and i'm,
proved facilities Of transportation. We
cannot postpone action In this matter
without leaving the railroads exposed
10 many serious handicapa and hax
ards: and the prosperity of the rail
roads and the prosperity of the c0uni
try are inseparahly connected. Upon
this question those who are chiefly
responsible for the actual manage
ment and operation Of the railroads
have spoken very plainly and YeFy
earnestly. with purpose We ought e
be quick 70 accept II. II will be one stsE
and q very important one. toward this
necessary separation OF the business
Of production from the business 81
transportation.
THE business Of the country awaits
also. has long awaited and has sui
fered because Il could not obtain fur
Their and more explicit legislative def
milton Of the policy and meaning ol
the existing antitrust laws. Nothing
hampers business Ike uncertainty
Nothing daunts or discouragea Il like
tho necessity TO take chances. 10 run
the risk Of falling under the eonAsm
nation of the Law before # can make
sure Just what the Law Is.
Definition Nos Possible.
Surely we are sufficiently familiar
With the actual processes and meth
DDS of monopoly and Of the many
hurtful restraints Of trade 10 make
definition possible. At any rate up e
the limits Of what experience has dis
closed. These practices. being noa
abundantly disclosed, can be expilc
lily and Item By item. forbidden b.
statute In such terms as wIIl prac
tieally eliminate uncertainty, the laz
itself and the penalty being made
equally plain.
And the business men Of the
country desire something more than
that the menace Of legal process Il
these matters be made explicit and in
telligibie They desire the advice. the
definite guidance and information
which can be supplied BY an admin
istratiye body. an interstate trade
commission.
The opinion Of the country would
instantly approve Of such 3 commits