South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-01-06
THE GOVERNMENT AND THE TRUSTS.


Let the government own TIE trusts" has been the
slogan of a considerable school thinkers this
country for a good many years, and have all been
wont o but with the upon and the
imperative necessity OF policy, placing
big business under -oyernment control we
finding little trouble adapting ourselves 20
anticipations exactly what formerly such
a horrible nightmare PRIEST wilson's railroad control
proclamation. and his message 70 congress. brings
tendency forcibly mind, while the governments
postpone suits pending in the
courts gone among the signs OF the
times
The department Of justice has asked postpone
ment dissolution suits until October.
It is announced that that time further suspension
will be asked for until the close OF the war. we
may safely assume. the administration doubtless
does that by that time the nation will have evolved
a public policy toward business which viii make
further "trust-busting" unnecessary.
The sherman law which has dominated our govern
mental attitude toward industry and commerce for
generation is already dead letter superseded by
gressional authorizing executive department
disregard Today there is, in this country,
effective federal law against monopoly. and desire
for it. What recently prescribed is praised
and practiced Combination. pooling, Capitalization.
elimination competition. watchwordz
of the nation Business and government are last
ground. The government is doing. with the
help Of big business what IL long forbade big bust
public applauds.
The war, with its big broom. has swept
academic theories o recognize
and act upon facts and the biggest economic truth
that country is that
of competition is past 1t good and necessary
but have beyond
Let no superficial thinker imagine. however that
literally practcing today, viii practice
hereafter very thing we have hitherto forbidden
Trusts. combinations. monopOlies formerly
demned because they were conducted as private err
terprises private profit and were thus ininicaI
the welfare OF the general public They are ap-
proved because they conducted, directly or
indirectly, by public representatives for the public
interest The method is pretty much the same. The
basic economy the samethe suppression Of waste
fu competition. the gaining of greater economy
efficiency through more complete cooperation and
trazed control-but the motive and purpose are
The essential thing is the protection Of the public.
With that assured, the matter becomes simple
have a railroad monopoly; may have coal
monopoly wheat monopoly, a sugar MONOPOLY.
a steel monopoly etc. but we shall have in every case
benevolent public monopoly instead Of a selfish PR
vate monopoly.
By the ends shall probably have
this system in excellent working order and be-
accustomed 10 it. II shall hardly 0
change back the warning. wasteful system OF IN
restrained private competition in fields are
naturally adapted to monopolis6c management We
may expect, then OF antitrust legislation
busting shall be reconciIed in our big
gest and most vital industries, TO the sway a new
trust magnate, the biggest the world-UncIe sam
who will these through ownership or
supervision
And the once selfish and hostile captains OF indus
try will working cheerfuny and Loyalty for their
boss.