The daily monitor. (Mount Clemens, Mich.) 1940-1942, 1941-03-31

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oWA0HlNGr0N. March q
R1-ThA monopoly eognmll1p Z
reported 70 congress today tn:
Concentration u economic ~
political power" Wa suhd II
mining the foundations 6 NJ =
Tree enterprise and me- oovG9k &
nnent" In the United Stats. Wi
Submitting IT. final report ~
, study In progress almost threos
yeafs, the COMMITTEES asked n
Z policy Of permanent decaAsA
tralixation" to halt such eoua
centTotiou and offered . legiG1o.
tive program. much Of whiea
was aimed q curtailing mouos
polisttc practiee. -
One Of the objsetives Of -
study was % aecegtain the CAUSES
and possible remedies for Socur.
rent business depression. and q
this connection ~ coanmiftto
rejected government apondin4
% q remedy, proposing jnstoo
encouragement Of private oneoe,
prise and use Of private capital,
I'VE cannot" the cornnait1c}
said. continue to rely upon Cow
eminent expenditures whether
by way Of contribution or lcou
to sustain enterprise and privaA1
employment unless we are VIII.
ing to invite eventually somo
form Of the authoritarian state:.s
At one point the committee
asserted that the germs" u
both fascism and socialism NJ
ready were apparent In our
own economy"
The committee cited the btu
minous coal act a. having IT
up IAN order which II not with
out its resemblance to the. T6a-
cist order" and said that the
Tennessee Valley Authority u
mot without some aspects Of
socialism.
Specific legislative r Q com>
mendations made In the report
included establishment Of Ied.
eral charters for corporations
engaged in interstate business,
but four members Of the twelve-
man, congressional executive
body dissented.
Other legislative proposals.
would set up new restrictions
on corporate mergers. revised
patent laws, outlaw the basing
point price system and tighten
antitrust laws generally.
The committee rejected Z pro-
posal by Sumner T. Pike, c..
curities commission member, for
federal registration and exam.
nation Of national lie. insuYance
companies, but accepted sever.
ar other reromln3hd ations, ~
Pike for federal insurance IaNS,
including . proposal to bring hi
surance companies under the
federal bankruptcy act.
The report was sprinkled with
assertions that maintenance Of
democracy depended upon elm
nation not only Of concentrate
ed governmental control but
concentrated business power,
1T is quite conceivable" the
report said Of the current war,
that the democracies might At
tain a military victory over the
aggressors, only to find them
selves under the domination Of
economic authority far more
concentrated and influential
than that which existed prior 70
the war.
$50 great q proportion Of al
national savings and all ma
tional wealth have fallen under
the control Of q few organised
enterprises" the COMMITTEES said,
that the opportunity Of thoss
individuals who will constants
the next generation will be com.
pletely foreclosed unless, by
common consent Of Leadership
in business and government, W
undertake to reverse the trends
responsible for the present
crisis"
Isador Lubin, commissioners Of
labor statistics, and Leon Hem
derson, Z member Of the =.
curities commission and n
charge Of price sterilization IT,
the defense commission, asDort-
ed In . separate statement that
the report emphasized the avoid.
ance Of monopoly more than the
broader and more fundamental
questions.
I'VE do not believe that the
program which this report pre-.
SCENTS would, In itself, have pre-
vented the great depression q
the thirties," they said. Like.
wise, such q program will not
be adequate TO meet the prob
lens Of tomorrow"