The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-12-11
Mnre MOnOpOlieS

Business rnonopoies are Of more value to the
country that competition according to owen D.
young That was dangerous heresy back in the trust
busting days 1t is a commonplace today. The only
qualification made by Young is that monopoly be
regulated by the federal government There again he
speaks for enlightened business leaders and for pub
lie opinion.
But the issue is not so simple in practice as in
theory Governmental regulation has broken down in
many If not in most, cases.
Take the two great industries in which Young is
leader the electrical and radio industries The pro-
gresves In congress call General Electric and Radio
Corporation of America monopolies Young denies
that his companies are monopolies but would like to
make them SUCH
At any rate, it is only matter Of degree. Both
companies already are large enough to be considered
trusts in the language of the public.
And It is significant that the government is not
doing much to regulate those two powerful corpora
tons Indeed the government is having trouble with
them. The highly important investigation of the
electric power industry by the federal trade commits
sion is blocked by refusal of the Electric Bond and
Share Company, a General Electric corporation, to
produce its operating accounts.
The Radio Corporation Of America is violating the
antitrust laws through its contracts with twenty
seven manufacturers Of receiving sets, according to
recent federal court decision.
Not satisfied with the alleged monopoly already
held by R. C. A. Young now proposes an American
international communications combine or wire and
wireless embracing possibly R. c. A. International
Telephone and Telegraph and Western Union. Appear
ing before a senate committee Monday, Young pre-
scented the proposition brilliantly.
Though an opponent of government monopoly,
Young went so far to say that a government COM
bne would be better than continued private compet-
ton
"If you have any hesitation about unifying our
external communications in the hands of private
company under government control then 1 beg you,
in the national interest to unity them under govern
ment ownership, America may not be left, in the
external communication field, subject to dicaton of
foreign companies or governments"
He went on however. to dismiss the possibility of
government control of communications "inaSmuch as
there is no large public sentiment demanding it"
We are not so sure.
We believe that the public is coming to recognize
with Young and other business leaders that waste
full competition must give way to unifcation Of indus
tries We believe that the public recognizes with
Young that there are only two eventual choices,
government ownership or adequate government regu-
lation OF private monopoly.
But we believe that the public is far dissatis
Intellectual system which passes for government
regulation of private monopoly.
Unless large corporations like Electric Bond and
Share stop saboaging legitimate federal investiga
ton and effective federal regulation, they unwilling
y will force government ownership of public utilities
as the only way out