The Washington herald., 1918-12-16

the best evidence Of the wisdom OF
this. Those arts and industries that
are smenable TO patented improve,
ment have advanced by leaps and
bounds through the instrumentslits
Of individual effort. while those les.
favored have moved more slowly. /
Agriculture. for instance. made little
or no progress for years. and has ad-
vanced recently chiefly through the
stimulus OF government or OF public
aid. such as Of our schools and co.
leges, which IL is not in the spirit
Of our institutions to substitute for
private effort.
In effect the patent system is bera-
| hcial to a nation because IL gives the
assurance OF protection against IN
= fair competitions. and 10 DO that goes
I TO the extreme Of creating a monopoly
7 for a long term OF years.
No less measure OF beneft NAV hs
J derived from a system that will per-
/ init reasonable profits TO be secured
I by those engaged in EsinfuI oCru-
pations without creating a monopoly
( or permitting Il to be created
! Fair competition is the life Of trade.
Agreements without common owner
ship aid in the preservation Of the
small manufacture. and help him 10.
. withstand absorption by the larger
1t is the best safeguard against the
abuses OF huge permanent BggreCa-
I tions Of capital {
/ Association is more beneficial to th4
small producer than the large ThS
Z latter because OF his more complete
Z organization. better command OF capS
I tai OF more complete methods OF pro
duction. and extensive means OF dIs-\
i tribution. is in a position 20 make
prices low enough TO destroy his
/ smaller competitor.
! Today. the one law on our books.
above all others that makes for in
stability is the Sherman act with its
uncertainty Of meaning and aDplics-
bility. changing with every decision
Of the courts.
1t should be amended 10 relieve Il
OF its oppressive nature by clearly de-
fining its terms. II by trade" q
means the barter or sale Of anything
Whatsoever. Il should say So and
bring the farmer. the professional
man. and the lahorer clearly within
its scope. as well as the merchant
and manufacture.
Let trade consist OF the exchange
OF any product whether tangible and
concrete as a bushel Of wheat or ton
Of coal. or abstract as an invention.
! a discovery. a personal service T.
should also be amended 50 as 10 pro-
hibit and define only harmful restraint
OF trade.
This might he done BY dividing
trade into its COinpOuents. putting
prohibition Of restraint on some and
! leaving others outside OF that pro-
! rfbitIon.
Trade consists or two essentials
lst a thing 70 be sold-Iet US call thu
prodUct-and that for which IL
sold-let MS call that the price
( Let US say then that there shall he
no restraint upon the product either
as 10 its quantity. fits qualify. or any
other Of its attributes. but that the
possessor OF that product may charge
as little or much as he wishes and
enter into any agreement he NAV
deem Wise with others who have the
same product for sale as 10 the price
that each Of them shall charge Would
the consumer be protected under such
an arrangement Let Us suppose that
by a combination Of prodUCers THE
price had been advanced. thus putting
the consumer 10 an added cNNense.
and TO that extent. acting 10 his dc
q
eliminated in the matter OF price but
not restrained in any other respect.
II would find its expression I'm the
betterment OF product Inevitably. oy
two merchants offering the same
article at the same price. each strives
TO give better quality than the other.
Thus. the restraint on price would
act for the betterment Of the product.
Nor could the price be advanced be-
yond a reasonable point without
= creating new competition. for there
being no restraint on product Il wours
increase in answer TO the rise In pTIrt.
and act by the laws Of trade TO keF0
the former at a reasonable level. I'm
mutable laws that can be deN-nd"d
upon TO do their part
This right should be embodied in
the law, not as an exception to things
prohibited. but as an express dsrIarR-
ition OF a right ests blished. thus act
ing to nUllify all State laws which
are or may be a prohibition thereof.
The purpose Of antitrust leClSIa-
Hon is the prevention OF monopoly.
and this could be accomplished by the
methods herein proposed.
While all would be free 10 make
agreements to secure adequate re-
turns for what they make or Furnish,
monopolies would not be created hH-
cause manufacturers could not jointly
limit their crops or laboriuE men
Jointly limit the supply OF their serv-
ices
We shall have no commercial peace,
no stability OF trade while the Shcr-
. man act and the various related
State laws hang over as with to
threat OF catastrophe which would
turn into a certainty II they were en-
forced instead OF being dispensed.
They have done more than any other
class Of legislation to make this n
government Of men in place OF
government Of laws
No remedy for the concentration
any power in wealth. that carries with
il a more dangerous concentration ~
power in the state or In one class.
, as against another. should be &C.
cepted.
GORE THROAT -