The Sherman Anti-Trust Law constitutes precisely such an attempt to save
the life of the small competitor; and in case the Roosevelt-Taft policy
of recognition tempered by regulation is to prevail, the first step to
be taken is the repeal or the revision of that law. As long as it
remains on the statute books in its existing form, it constitutes an
announcement that the national interest of the American people demands
active discrimination in favor of the small industrial and commercial
agent. It denies the desirability of recognizing what has already been
accomplished in the way of industrial and commercial organization; and
according to prevalent interpretations, it makes the legal standing of
all large industrial combinations insecure--no matter how conducive to
economic efficiency their business policy may be.
Assuming, however, that the Sherman Anti-Trust Law can be repealed, and
that the Roosevelt-Taft policy of recognition tempered by regulation be
adopted, the question remains as to the manner in which such a policy
can best be carried out.
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