Evening star., 1938-02-20
By Lucy Salamanca.

| G ~ RANTED, says Charles H,
March, Republican COM
missioner Of the Federal
~ Trade Commission and
twice chairman of that body, that
the giant monopoly is abroad in the
land; granted that 1t will destroy the
very foundations of our democratic
| Government If allowed to go uncon-
trolled, and granted that the whole
world is now in revolt-and justly
against the philosophy Of unnecessary
scarcity which has been the philosophy
Of private monopoly. still urge upon
the American people the necessity for
some good straight thinking at this
time on this vital subject
Furthermore, contend that the
question is simple. the remedy direct
and the law adequate. In my opinion
the present situation with respect to
this grave economic condition has
been aggravated. not by lack Of ade-
quate legislation. but by emascula-
ton Of that legislation which we now
have My long experience as a MEM
Der of one Of the United States Gov
ernment's oldest independent agencies.
charged with the quasi judicial func-
tions Of preventing unfair methods Of
competition in commerce and of max
ing investigations into industrial
abuses. has convinced me that when
the Supreme Court read into the
Sherman antitrust law the so-called
rule Of reason 1t gave great impetus
| to the formation Of monopolies: 1t con-
firmed them-however unintention-
ALLYN their monopolistic profits and
their inflated capital structures and
accentuated the holding company
menace"
Please remember" I suggested,
that this is for the great American
publican effort to clarity some Of
the confusing and conflicting arsu-
ments that are being hurled at its
head-and the rule Of reason doesn't
mean thing to the layman."
That's right. It doesn't, and it
should. I'll come to that. What the
American public does know Is that we
are now in the midst of q business
recession, that unemployment Is still
An acute problem, that many are
in want IN the midst Of plenty. The
public Knows. too. that recently Presi-
dent Roosevelt requested that the Fed
eral Trade Commission make an in
vestigation into this situation, to de-
termine the effect Of monopoly upon
1t. and whether or not monopolistic
practices can be held responsible for
1t. am not at liberty, Of course. to
comment upon this at this time. But
the American public has only to 60 as
far back as the last depression to de-
termine for itself that certain prac-
tices of monopolistic nature were in
large measure responsible for that
debacle.
II PERSONALLY believe that the
last depression was traceable in
mo small degree to monopolistic prac-
tices on the part Of large businesses.
many Of them excessively capitalized.
These practices were not controlled at
s-s~ SAAAASt NVSOUSO kAS WAO1S SVUAsAy
had been 50 blinded BY prosperity that
the growth Of monopolies had seemed
actually beneficial rather than dan
gerous. But they charged more than
the trafdc would bear ana exploited
their positions without suflcient re-
gard for the consequences.
In reducing competition they
seemed to be on the way to greater
success. Actually, however, fewer
people were able to buy the products
OF those who had concentrated output
In their own hands. for such concen-
tration had deprived many Of their
livelihood. The result, though often
called production. might equally
well be termed underconsumption, for
many Of those who had been con-
sumers lost their purchasing power
when they were no longer able to light
against the methods used by their
larger competitors.
IAN this u directly contrary to the
principle On which our government
was founded-&l1At ef equal oppof.