The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-10-13
DRASTIC CHANGE
IN ANTITRUST
LAWS TALKED
Bar Convention Discusses
Needs of Business to
Whip Depression.
BY RUTH FINNEY
Times STAFF Writer

WASHINGTON. Oct. 13.-Mod-
ification Of the antitrust laws,
widely discussed last year as
means of giving business greater
freedom to work its way out Of the
depression, is being debated by the
American Bar Association as step
toward greatly extended control Of
business by the government.
Economic problems surrounding
this choice between competition and
monopoly as the basis Of industrial
and national welfare have intruded
themselves into one discussion after
another at bar association meetings
here.
Although the commerce commit
tee of the association has agreed to
present a modification bill to con-
gress, which confines itself to eX-
tending the powers of the federal
trade commission to improve indus
trial contracts. members of this
group predict far more drastic &C
ton will have to be taken.
Face Terrifying Specter
Two New York attorneys, julius
Henry Cohen, counsel for the port
of New York authority, and Alexan-
der Levene, predicted eventual rec
ignition of the fact that all business
is invested with public interest,
and must be regulated by the gov
eminent at the same time that mo-
nopolies and mergers are permitted
for economic reasons.
ANY one who thinks the end of
the antitrust law agitation will be
to let business combine freely,
simply doesn't understand the
American people and conditions
here" said Cohen.
THE trend in this direction
means more government regulation,
no matter how much we fear the
DOGGY of government interference
with business.
Another specter as terrifying or
more so confronts us. If the capital
]
cooperation with the government,
there is danger that it will be over
thrown
Predicts National Planning
Levene predicted national eco
nomic planning as a result Of anti
trust law modification. and eventual
government regulation of all indus
try.
when the Sherman act be-
came law congress and the public
thought that open competition
would result in low prices and pre-
vent profiteering, and thereby
would maintain purchasing pow
err" he said.
But they disregarded the neces-
sary relation of prices to wages. and
overlooked the fact that the same
competition which was expected to
reduce prices would prevent the in
crease Of real wages in proportion
to the increase Of production, and,
therefore, would fail to accomplish
the objects Of maintaining purchas-
ing power.
Equitable distribution to main
tain purchasing power by reducing
| the hours of labor and increasing
real wages is impossible while in
dustry is ruled by the wild forces Of
competition
AssaiIs Work Staggering
Levene demanded that the anti
trust laws be retained, and be modi-
fed only when accompanied by
thorough provision for government
regulation of trade agreements and
power to assure fair prices to con-
sUmers.
THE fear Of regulation no longer
should keep us in the rut of cut
throat competition, but amendatory
legislation should be enacted with
out delay" he told the commit
! tee.
Levene branded attempts to stag
ger employment accompanied by
wage cuts as shifting from pri-
vate and public charity to the en-
ployed and partly employed wage
earners, the burden Of feeding the
unemployed"