The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-18
'BLAMES BUSINESS
FOR UNFAIR LAWS
W. II. Childs Tells Merchants
They Failed to Study
Legislation.
CLAYTON ACT EXPLAINED

Nearly 1000 members OF the Mer-
chants Association at luncheon ~ the
Hotel Aston yesterday listened closely
TO Joseph L.. Davies. United States Com
missioner OF Corporations. who told them
President Wilson's purpose in forming
the new Federal Trade Commission. Nj.
Davies will probably be the commission
chairman.
The merchants applauded Mr.. Davies's
reassuring words and then laughed over
the plain speech of william Hamlin
Childs, head OF the American Coal Prod
ucts Company. MIR. Childs spared no
one. He denounced the ship purchase
bill and the next minute told the bust
ness men hat their own stupidity and
lnattention is half responsible for inept
trade legislation.
When these two scheduled addresses
were over the merchants fingered a few
mlnutes past adjournment tint to hear
Collector OF the Port Dudley Field Ma
lone say that they must be fair TO the
present Administration. which. no in
sisted. had made an effort TO define and
clear Tin the Sherman Law.
Mr.. Davies said that he thought three
questions concerning the Federal Trade
Commiss on most Interested business
men. These are: what IL its purpose
what Is its scope? What Will he Its
Nllttt on tlc country .
The purpose was TO supplement exist
ing law and TO create an agency that
would help administer The law with less
trouble for business. Mr.. Davies ex-
planned.
He continued:
The purpose OF the law was TO pro-
vide an xpert body which should be
ever watchful OF the public Interest. but
which should as well be clothed with
power to obtain facts and Information
for the public good. In the
course or time there will be available TO
the Federal Trade Commission a large
body Of Information as 10 the Whole field
OF industry. This information is fur
Their made available by the law 20 the
Federal courts The qu~asi-judicill func-
tipns OF the commission viii be exercised
In passing upon violations of the pro-
visions OF the Clayton act, which pro-
hib ~ price discrimination. tying con-
tracts. in~ter,ockiug stockho,d iugs and in
terlocking directorates whore the effect
thereof Is substantially TO lessen compe-
tition."
Mr.. Childs said our business troubles.
aside from the war. have been caused
10y want OF confidence ~ business men
in the Administration and Of the Adj
ministratiun IN business men. The Ad-
minis;ration's attitude he blamed on
Two iundaine''Al errors. Inc Urst ls
I'm thinking that business mems inter-
est can be separated from the concerns
OF the rest of u the second !ss IN
thinking business men less considerate
OF public welfare than others.
When 4 Secretary % state dares 10
say to a convention ~ business men
from all over the country that those
men who disapprove the SHY purchase
bill are actuated by selfish Interests, Il
Is time that business men should arise
en- masse and demand fair play
This statement vas loudly ~applauded
"The real cause Of SO much dias.ree-
ment as 20 the actual business condi
lions Is due 70 ne ignorance OF Con
gress on these subjects and the stupid
want OF Willingness on the part OF the
average business man TO study and I'M
dcrstand public policies he went o n
Mr.. Childs tool his hearers 20 task
with equal severity. tie told them
that when the Clayton b!ll WAS before
Congress most 90 them didu't know
whether It was a laundry bill or a
brother OF Buntlo Bill. only the work
OF . few leading men IN Industry pre-
vented the clayton bill from passing
with dragons teeth sown IN IT, he con-
tlnued. As Il stands he thinks Il none
too good, hut expects tie proper sor,
of men, among them MIR. Davies, 70
create the right sort of precedent for
! ifs usN.