Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1915-03-04
Trade BOARD To
CHECK MONOPOLY
Davies Explains Duties Of New
Federal Commission.
"EvEN HANDED JUSTICE. "

Body Will Be Vieilant Protection of the
Public Interest From Encroachments
Of Dishonest Business as Well as
Constructive Help to Those Who
Want to Do the Right Thing.
New York-Just what will be the
scope and application of the new fed
eral trade commission, authorized by
congress, was set forth by Joseph e.
Davies, commissioner of corporations.
whose Office is to be merged with the
federal trade commission and who has
been named by President Wilson as
member Of the board, to a gathering
which included large number of busi-
ness men interested in the purposes of
the new governmental board.
Legislation creating the trade COM
mission was based on the platform
declarations of the two dominant po-
itical parties that private industrial
monopoly was inconsistent with repre-
sentative democracy" Commissioner
Davies said He added that the spirit
and purpose behind the law were that
Of "even handed justice, vigilant pro-
lection of the public interest from en-
croachments Of dishonest business and,
as well, constructive help to business
which is honestly and fairly desirous
Of accommodating itself to the law"
Commissioner Davies said the pur-
pose of the Newlands- Covington act
;o1, 4oI fo1o do
mission twas to provide an expert
body, which should be ever watchful
of the public interest, but which should
as well be clothed with power to OBJ
tain facts and information for the good
Of the public and business generally,
agency not only to enforce the law, but
to aid expeditiously in the more easy
accommodation Of the remedy to the
wrong and to the accommodation Of
business to the requirements Of the
law"
Will Define Fairness.
"The problems of modern industrial
business are not simple" he contin-
ued. "Our modern industrial organism
involves one-sixth of the total wealth
Of the nation. 1t affects approximately
One-tenth of our population directly.
It's welfare and it's prosperity, con-
sistent with the public interest, is a
matter of first concern to government.
One Of the problems frequently alleged
is uncertainty as to what the law pre-
scribes. This legislation attempts to
relieve that situation by specific deffni
ton to make that clear which cannot
be done.
'In the course of time there will be
available to the federal trade commits
sion large body Of information, col
lated, digested and interpreted, as to
the whole field of industry of the coun-
try. This agency is also available in
the public interest in investigations Of
the antitrust laws
Advise Department of Justice.
This information and expert knowl
edge are further made available by the
law to the federal courts in the fOrma-
tion of dissolution DEGREES in trust
cases, to the end that the public in
terest may be conserved, in that dis
interested economic and expert knowl-
edge Of industry as well as legal infor-
nation may be available in such situa-
tions By direct authorization Of the
law the trade commission may be CALI
ed in by the department Of justice to
make recommendations as to the man
ner in which corporations may read
just their business so as to comply
with the provisions of the law.
"The greatest menace to the small
business men or enterprises lies in un-
fair methods Of competition employed
by their larger rivals, who can with
stand campaign of price cutting or
similar practice simply by reason Of
brute strength. These practices, If
permitted. breed monopoly. If pre-
vented in their inception by govern
ment agency there is guarantee of a
square deal to the smaller unit and an
assurance that it will depend for its
survival upon it's own efficiency and
find justification therein for it's ex-
istence. The theory of this law finds
no quarrel with bigness of enterprise.
It simply provides that the rules Of
the road, based on fairness. shall be
made clear and shall be enforced"