The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-01-21

gsnizstion. without Inconvenience or
confusion
such a prohibition will work much
more than a mere negative good b. cor
recting the serious evils which have
arisen because. for example. the men
the great investment banks have usurped
the place which belongs TO independent
Industrial management working In its
own behalf. ~ will bring new men. new
energies, a new spirit al initiation Anew
blood, into the management OF our Great
business enterprises. IL will open the
friend Of Industrial development ana
ORDINATION 70 scores OF men who have
been Obliged TO serve when their abili-
ties entitled them 10 direct. II will i'm
menseiy hsarten the young men coming
activities OF the whole country
Railroads Damaged.
In the second place. business men as
well a. those who direct public Affairs
do not recognize. and recognize the pain
tul clearness. the great harm and inTus-
tice which has been done 10 many. N not
country by the way In which they have
been financed and their own distinctive
interests subordinated TO the interests
Of the men who financed them and OF
other business enterprises which those
men wished To promote. The country H.
ready. therefore. TO accept. and accept
with relief a. well as approval. "A law
which viii confer upon the Interstate
Commerce Commission the power to
superinteDd and regulate the financial
% erations b, which the railroads are
hencerorth TO be supplied with the
money they need for their proper devel-
opment TO meet the rapidly growing re-
quirements OF the country for increased
and improved facilities OF transporta-
ton. We cannot postpone decision in
this matter without leaving the rail-
roads opposed 10 many serious handicaps
and hazards: and the prosperity OF the
railroads and the prosperity OF the
country are inseparably connected. Up
on this question those who are chiefly
responsible for the actual management
spoken very plainly and very earnestly.
with "A purpose we ought 10 be quick to
accept. II will he one step and a very
important one, toward the necessary
separation OF the business Of produc-
ton from the business OF transporta-
tion.
Hampered BY Uncertainty.
THE business or the country awaits.
also, has long awaited and has suffered
because II could not obtain. further and
more explicit legislative definition Of
the policy and meaning of tie existing
antitrust law. Nothing hampers Dusi-
ness like uncertainty. Nothing daunts or
disoourages IL like the necessity TO
take chances. to run the risk OF falling
under the condition OF the law before II
can make sure just what the law Is.
surely We are sufficiently familiar with
the actual process and methods OF mon
opoly and OF the many hurtful re-
straints OF trade to make definition pos
sible. at any rate up TO the limits or
what experience has disclosed. These
practices. being now ahundantly dis
closed. can be explicitly and item by
item forbidden BY statute in such terms
as will practically eliminate uncertainty.
the Law itself and the penalty being
made equally plain.
And the business men OF the coun-
try desire something more than that
menace OF legal process in these mat
tiers he made explicit and Ineligible.
They desire the advice. the definite guild
ance and Information which can be sup
piled b. an administrative body, an in
terstate trade commission.
Advocates Commission.
The opinion OF the country would
instantly approve OF such a commits
sion. IL would not wish TO see IL en-
powered to make terms with monopoly
or in any sort to assume control OF
business. as " the government made it.
commission only a. an Indispensable
instrument OF Information and public
ity, as clearing house for the facts
by which both the public mind and
ings should be guide. and as an instru-
mentality FOR doing justice 20 business
where the processes OF the courts or
the natural forces Of correction out
side the courts are inadequate To adjust
the remedy Of the wrong in way that
will meet all the equities and circum-
Producing industries. for example.
which have passed the point up 90
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 stmi-
lar organizations can be. Their dis
solution by ordinary legal process may
often-tlmes involve financial conse-
quences likely Co overwhelm the
security market and bring upon 10
breakdown and confusion. There ought
20 be an administrative commission
capable Of directing ard shaping such
corrective processes. not only iu aid of
the courts but also by independent sug-
gestior. II necessary.
To Meet Business Half Way.
"Inasmuch as our object and the
spirit 81 our action in these matters a.
10 meet business HHlf way IN its pro-
cesses OF SELF correction and disturb its
legitimate course ~ little as possible
We ought 60 see 20 ~. and the iudEmen nj
~ practical and sagacious men or ar
fairs every where would applaud us n
We did see to a.. that penalties and pun
ishmeuts should fall not upon business
itself. nor It's confusion and interrupt
ion. but upon the individuals who use
the instrumentalities Of business 90 ID
things which public policy and sound
business practice condemn. Every act
NJ business ie done az the command or
upon the initiative Of some asccrtainabie
person ur group Of persons. These
should De held individually responsible
ssnd the punishment should fau upon
them. not upon the bueiucsa Orgauizat
Jon of which they make Illegal use. ~
should hf one of the main objects ~
our legislation to divcst such persons
Of their corporate clerk and deal with
them He with those who do not rerres.
ont their corporations. but merely hE
dlehbc-tto Intention break nc law
would. . am cure. applaud us 10 We were
to take sneciunl steps 10 see that tho
Officers and directors OF great business
bodies we're prevented from bringing
them and thr business Of the rountr,
into lIrreuufr and danger.