The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1916-04-27

express or implied agreement or ar
rangement together, or one with an
other, like that adjudged illegal here
by, relative to the control or manage
ment of any Of said corporations, or
the price or terms Of purchase, or of
sale, or of rates of transportation of
petroleum or it's products in interstate
or international commerce, or relative
to the quantities thereof purchased,
sold, transported or manufactured by
any of said corporations which will
have a like effect in restraint of COM
merce among the states.' .
If there are any agreements TO-DAY
between the various Standard Oil COM
panies and individuals who were par
ties to that case, or any two of them.
fixing prices, limiting output or agree
ing not to compete, they are in viola
ton of that decree, and the parties can
be punished; and if there are any such
agreements between independent con-
Germs and the Standard Oil companies,
the government can prosecute them.
This decree accomplished everything
that could be accomplished under the
Sherman Act. That act did not au-
thorlze confiscation or destruction of
property, nor a decree compelling cor
poratlons to compete, nor one con-
trolling prices. It did, however, au-
thorize injunctions prohibiting VIOLA
tons of the act, such as agreements
fixing prices, limiting output or terri
tory in which sales should be made.
agreements not to compete and other
unlawful acts Of this character. The
court could not compel any corpora
ton or individual actively to COM
pete; but, as the Chief Justice said,
the court could 'forbid the doing in fu-
ture OF acts like those which we have
found to have been done in the past
which would be violative of the stat
ute."
Anybody acquainted with the facts
will say that these prosecutions have
had a great beneficial effect. They
have eliminated the worst abuses of
corporations. For example, the Stand
ard Oil company had from $3.50 to
|97A% of the business at that time; to-
day it has practically not to exceed
900, and there are great many large
and independent concerns in the field.
each having capital of from thirty to
fifty million dollars. They had the eff
feet Of keeping open the door Of op-
portunity, so that others with sufi-
Gent capital, energy and enterprise
could engage in business and not be
driven out or crushed by inordinate
wealth.
have always vigorously advocated
that congress should provide for sys-
tenn of federal license to large cor
porations engaged in interstate COM
merce, on condition that they obey
the law, not enter into agreements fix
ing prices, limiting output or elimi-
mating competition, and if they violate
the terms of their license, provide for
revoking it. This, with the reasonable
supervision of the Trade Commission,
would, l believe, not only protect cor
porations engaged in legitimate bust
ness, but constantly aid in preventing
agreements raising prices, or other
conduct injurious to the public.
| - i s. I believe in
the spirit and principles Of true de-
mocracy; in the fullest opportunity for
the people to have voice by vote in
the affairs of government, and that one
of the first duties of craftsmanship is
to jealousy guard the principles on
which constitutional representative
democracy is founded.
The surest safeguards for the peo-
pies rights are the independence
of the separate branches of govern
ment,-the legislative, executive and
Judicial, -and the maintenance of those
provisions of our constitution guaran-
teeing protection to life, liberty and
property. We have lived so long in
the enjoyment of peace and personal
Security, under the protection of wise
government, that we are apt to be
forgetful Of the fact that these prin-
ciples are not merely expedients of
government, to be laid aside whenever
the exigency Of the case or popular
ciamor seems to demand, but are en-
during principles which. the expert
ence of the ages has demonstrated are
necessary for the preservation of hui
man liberty, and which have been es-
tablished in the centuries of upward
struggle of the race. One of the great
est services lawyer can perform for
his country is to maintain unimpaired
those constitutional principles, the es-
sentials of representative government
and the stability and purity of the