Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-01-20

upon the Interstate commerce com
mission the power 20 superintend and
regulate the financial operations by
which the railroads are henceforth to
be supplied with the money they need
for their proper development to
meet the rapid growing requirements
OF the country for increased and i'm
proved facilities OF transportation. We
cannot postpone action in this matter
without leaving the railroads exposed
TO many serious handicaps and haz-
ards and the prosperity of the rail
roads and the prosperity OF the coun-
try inseparably conencted. Upon this
question those who are chiefly re-
sponsible for the actual management
and operation OF the railroads have
spoken very plainly and very earnest
ly. with a purpose we ought to be
quick TO accept. II will be one step.
and a very important one. toward the
necessary separation OF the business OF
the production from the business Of
the Transportation.
Business Awaits Also.
The business of the country awaits
also. has long awaited and has suffer
ed because IT could not obtain further
and more explicit legislative definition
OF the policy and meaning OF the exist
ing antitrust law. Nothing hampers
business like uncertainty. Nothing
daunts OF discourages IL like the
necessity to take chances to run tbs
risk OF falling under the condemna.
ton OF the law before It can make
sure Just what the law is. Surely we
are sum ciently familiar with the &C.
tual processes and methods OF mono
poly and OF the many hurtful re.
straints OF trade to make definition
possible. at any rate up to the limits
OF what experience has disclosed.
These practices being now abundantly
disclosed. can be explicitly and item
by item forbidden by statute in such
terms as Will practically eliminate
uncertainty, the law itself and the pen.
atty being made quite plain.
All the business men of the country
desire something more than that the
menace of the legal process in thess
matters be made explicit and intelligi-
BILE, they desire the advice, the def.
mite guidance and information which
can be supplied by an administrative
body, an interstate trade commission.
Country WouIo approve.
The opinion OF the country would
instantly approve OF such a commits
sion. II would not wish to see IL
empowered to make terms with mon
opoly or in any sort to assume con
troll of business as II the government |
made itself responsible. II demands |
such a commission only as an indis 4
pensable instrument of Indignation |
and publicity as a clearing house o! !
the facts by which both the public 1
mind and the managers of great bus |
mess undertakings should be guided /
and as an instrumentalit for doing /
Justice to business where the pro
cesses OF the courts or the natural
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 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
similar organizations can be.
Their dissolution by ordinary legal
process may often times involve f.
nancial consequences likely to over
whelm the security market and bring
upon It breakdown and confusion.
There ought to be an administrative
commission capable of directing and
shaping such corrective processes, not
only in aid of the courts but also by
independent suggestion, II necessary.
Penalties and Punishments.
Inasmuch as our object and the ,spir-