Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-06-24

by enacting bill which exemptS farmers CO.
operative organizations from prosecution under
the antitrust laws. This law would permit
farmers to market their goods in groups and
while safeguards are provided intended to pre-
vent monopoly, some observers declare that
with the door opened, monopoly is likely 20
rise up and control the co-operativeS. (ThiS
law will be attacked in the courts to test its
constitutionaty, cases already being in prep
aration for that purpose.
Labor unions are declared by the Clayton
ANTITRUST law to be specifically exempt from
prosecution as trusts. But \the Supreme Court,
in the recent Coronado case, and inferior
courts in other cases, have modified this ex-
emption so as to make labor unions amenable
to damages where their combinations have
caused loss through strikes, in certain circum-
stances.
Combines Of Ancient Origin
The tendency of business in all forms to
combine against the public is of ancient origin.
No study of the development of the great in
dustrial corporations. and later of the trade
associations, can be made without the discovery
of the impossibility Of altering profound and
immutable laws of political economy.
''People of the same trade" says Adam
Smith, the eminent Scotch economist, writing
generations before the Standard Oil company
was born, Seldom meet together, even for
merriment or diversion, but the conversation
ends in conspiracy against the public or
in some contrivance to raise prices"
The same economist notes the presence of a
counter force which defeats indefinite mo-
nopoliStic oppression. In discussing the effects
OF this force upon workmen who are members
OF trade association, in the form of guild
or labor corporation, he observes: "The real
and effectual discipline which is exercised over
workman Is not that of his corporation but
that Of his customers" BY this it is meant
that the public always is in greater con-
Spiraey even than the tradesman or manu-
facturer. Always seeking the article obtainabe
at the lowest price, the public constantly
maintains fight against the high priced man
or combination.
1t is the observation of economists that while
trust may control prices and perhaps pro-
ductlon for season, sooner or later the pub
lie will find cheaper source of supply and
break down the monopoly more certainly than
legal processes can do so.
Students of the rise and fall of trusts noint
out that the motive of business men or trades
men to join against the public is, regarded in
one light, self defensive. Every man who has
something to sell and must depend for his |
living upon selling it at price above what
it costs, feels that the buying public is in a
conspiracy directed against him in that the
public always is seeking to find some one
who will sell more cheap1y
The indications at Washington are that there
Will be never-ceasing development of ex.
pertinent and legislation directed at the evil of
oppressive monopolieS and also constant |
constructive movement toward the provision
OF highly efficient means of cooperative in
duStrial effort.
Lawyers, statesmen and business men of all |
branches of industry are watching with keen
interest the outcome of the two new expert |
mentS in business regulation.