16
below—which, in effect, means that there shall be no attempt to regulate the ferocious scramble in which greed and cunning reap the largest rewards. The other set has fixed its eyes purely on the injustices of distribution, omitting all consideration of the need of having something to distribute, and advocates action which, it is true, would abolish most of the inequalities of the distribution of prosperity, but only by the unfortunately simple process of abolishing the prosperity itself. This means merely that conditions are to be evened, not up, but down, so that all shall stand on a common level, where nobody has any prosperity at all. The task of the wise radical must be to refuse to be misled by either set of false advisers; he must both favor and promote the agencies that make for prosperity, and at the same time see to it that these agencies are so used as to be primarily of service to the average man.
Again and again while I was President, from 1902 to 1908, I pointed out that under the Anti-Trust Law alone it was neither possible to put a stop to business abuses nor possible to secure the highest efficiency in the service rendered by business to the general public. The Anti-Trust Law must be kept on our statute-books, and, as hereafter shown, must be rendered more effective in the cases where it is applied. But to treat the Anti-Trust Law as an adequate, or as by itself a wise, measure of relief and betterment is a sign not of progress, but of toryism and reaction. It has been of benefit so far as it has implied the recognition of a real and great evil, and the at least sporadic application of the principle that all men alike must obey the law. But as a sole remedy, universally applicable, it has in actual practice completely broken down; as now applied it works more mischief than benefit. It represents the waste of effort—always damaging to a community—which arises from the attempt to meet new conditions by the application of outworn remedies instead of fearlessly and in common-sense fashion facing the new conditions and devising the new remedies which alone can work effectively for good. The Anti-Trust Law, if interpreted as the Baltimore platform demands it shall be interpreted, would apply to every agency by which not merely industrial but agricultural business is carried on in this country; under such an interpretation it ought in theory to be applied universally, in which case practically all industries would stop; as a matter of fact, it is utterly out of the question to enforce it universally; and, when enforced sporadically, it causes continual unrest, puts the country at a disadvantage with its trade competitors in international commerce, hopelessly puzzles honest business men and honest farmers as to what their rights are, and yet, as has just been shown in the cases of the Standard Oil and the Tobacco Trust, it is no real check on the great trusts at which it was in theory aimed, and indeed operates to their benefit. Moreover, if we are to compete with other nations in the markets of the world as well as to develop our own material civilization at home, we must utilize those forms of industrial organization that are indispensable to the highest industrial productivity and efficiency.
An important volume entitled “Concentration and Control” has just
