The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1915-03-04
TRADE BOARD TO
CHECK MONOPOLY
Davies Explains Duties Of New
Federal Commission.
EVEN HANDED JUSTICE"
Body viii Be vigiIsnt Protection Of the
Public Interest From Eneroschments
Of Dishonest Business as Well 90
Constructive Help to Those Who
Want to Do the Right Thing.

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 f..
Davies, commissioned Of corporations,
whose Office Is to be merged with the
federal trade commission and who has
been named by President Wilson as a
member OF the board. to a gathering
which included a large number Of bust
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-
liticaI 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, yigflant pro
lection or the public interest from en-
croachments or dishonest business and,
as well, constructive help TO business
which Is honestly and fairly DESTROYS
OF accommodating itself TO the law"
Commissioned Davies said the pur-
pose of the Covington act
which created the federal trade com
mission was to provide an expert
body. which should be ever watchful
OF the public interest, but which should
as well be clothed with power TO oh
tain facts and information for the good
OF the public and business generally.
and which should serve also as an
agency o only TO enforce the law, but
TO aid exp~editiously in the more easy
accommodation OF the remedy to the
wrong and 10 the accommodation OF
business 10 the requirements OF the
law"
Will Define Fairness.
The problems OF modern industrial
business are not simple" he contin-
ned Our modern industrial organism
involves one-sixth OF the total wealth
OF the nation. Ii affects approximately
one-tenth OF our population directly.
Its 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 deini-
ton to make that clear which cannot
be done.
I'm the course OF time there will be
available TO the federal trade commits
sion a 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 I'm 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
ton OF dissolution DEGREES In trust
cases, TO the end that the public in
terest may be conserved, I'm that dis
interested economic and expert knowI
edge Of industry as well as legal infor
nation may be available In such situa
tlons. BY direct authorization Of the
law the trade commission may be call
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 menac to the small
business men or enterprises lies n un
fair methods of competition employed
by their larger rivals, who can with
stand a campaign OF price cutting oil
similar practice simply by reason OF
brute strength. These practices, II
permitted. breed monopoly. IL pre-
vented in their inception by govern
ment agency there is a guarantee Of {
square deal to the smaller unit and al
assurance that It will depend for IL
survival upon its own efficiency and
find justification therein for It's ex
istence. The theory OF this law indI
no quarrel with bigness Of enterprise
1t simply provides that the rules o
the road, based on fairness, shall b.
made clear and shall be enforced"