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been issued by President Charles R. Van Hise, of the University of Wisconsin. The University of Wisconsin has been more influential than any other agency in making Wisconsin what it has become, a laboratory for wise social and industrial experiment in the betterment of conditions. President Van Hise is one of those thoroughgoing but sane and intelligent radicals from whom much of leadership is to be expected in such a matter. The sub-title of his book shows that his endeavor is to turn the attention of his countrymen toward practically solving the trust problem of the United States. In his preface he states that his aim is to suggest a way to gain the economic advantages of the concentration of industry and at the same time to guard the interests of the public, and to assist in the rule of enlightenment, reason, fair play, mutual consideration, and toleration. In sum, he shows that unrestrained competition as an economic principle has become too destructive to be permitted to exist, and that the small men must be allowed to co-operate under penalty of succumbing before their big competitors; and yet such co-operation, vitally necessary to the small man, is criminal under the present law. He says:
“With the alternative before the business men of co-operation or failure, we may be sure that they will co-operate. Since the law is violated by practically every group of men engaged in trade from one end of the country to the other, they do not feel that in combining they are doing a moral wrong. The selection of the individual or corporation for prosecution depends upon the arbitrary choice of the Attorney-General, perhaps somewhat influenced by the odium which attaches to some of the violators of the law. They all take their chance, hoping that the blow will fall elsewhere. With general violation and sporadic enforcement of an impracticable law, we cannot hope that our people will gain respect for it.
“In conclusion, there is presented as the solution of the difficulties of the present industrial situation, concentration, co-operation, and control. Through concentration we may have the economic advantages coming from magnitude of operations. Through co-operation we may limit the wastes of the competitive system. Through control by commission we may secure freedom for fair competition, elimination of unfair practices, conservation of our natural resources, fair wages, good social conditions, and reasonable prices.
“Concentration and co-operation in industry in order to secure efficiency are a world-wide movement. The United States cannot resist it. If we isolate ourselves and insist upon the subdivision of industry below the highest economic efficiency, and do not allow co-operation, we shall be defeated in the world’s markets. We cannot adopt an economic system less efficient than our great competitors, Germany, England, France, and Austria. Either we must modify our present obsolete laws regarding concentration and co-operation so as to conform with the world movement, or else fall behind in the race for the world’s markets. Concentration and co-operation are conditions imperatively essential for industrial advance; but if we allow concentration and co-operation there must be control in order to protect the people, and adequate control is only possible through
