Monopolies can, although in rather cumbrous fashion, be broken up by
law suits. Great business combinations, however, cannot possibly be made
useful instead of noxious industrial agencies merely by law suits, and
especially by law suits supposed to be carried on for their destruction
and not for their control and regulation. I at once began to urge upon
Congress the need of laws supplementing the Anti-Trust Law--for this law
struck at all big business, good and bad, alike, and as the event
proved was very inefficient in checking bad big business, and yet was
a constant threat against decent business men. I strongly urged the
inauguration of a system of thoroughgoing and drastic Governmental
regulation and control over all big business combinations engaged in
inter-State industry.
Here I was able to accomplish only a small part of what I desired to
accomplish. I was opposed both by the foolish radicals who desired to
break up all big business, with the impossible ideal of returning to
mid-nineteenth century industrial conditions; and also by the great
privileged interests themselves, who used these ordinarily--but
sometimes not entirely--well-meaning "stool pigeon progressives" to
further their own cause.
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