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Show PARSONS AGAINST FEDERAL CONTROL Organizer of the First Trust Be-lieves Be-lieves Business Paralysis Would Follow Such Action. CERTAIN TO BRING PANIC Strong Corporations Would Flourish Flour-ish and the Weaker Ones Go to the Wall. Special to The Tribune. NEW YORK, July 30. In an interview inter-view today John E. Parfons, the veteran vet-eran lawyer who really organized the sugar trust, goes 0n record against federal fed-eral control of trust-made commodities. Ho says: , . "I must not fail to call attention to the scheme for a federal tribunal which is to fix thrt prices. 1 recognize that in case of public franchises public service corporations, those which enjoy public pub-lic franchises or which are akin to them, should be within reasonable control con-trol of the. authority which constitutes them and from which como their powers. pow-ers. And wherCj in respect to a single commodity, an appeal could .be made to a tribunal to ratify prices, it might be in the interests of all concerned. "But what will bo the effect upon general business, if, to dotermino prices, the hundreds of commodities in which individuals or corporations deal arc brought before a board of control? There can only bo ono result the paralysis par-alysis of business. "It points to nn assumption that I will never recognize, that the American citizen, if loft nlonCj will not carry on his business intelligently and with obBorvanco of the law. It has occurred to me to consider tho ultimato effect of such legislation. Tho Weaker to tho Wall. "Assume, if you pleaoe, that it might create a trade disturbance or panic. Who comes out ahead? Always the strong. Who . suffers? Always the weak. '.'This country owes all her present prosperity to aggregations of capital. "In my opinion,'' he continued, "the longer attempts at interference with natural causes are persisted in, harmful reactions will follow, aH a rule. Theso reactions help the stronger in the long run. This has been pretty much the universal experience, that the stronger are better fortified to withstand interference. inter-ference. The weaker go down. "If it is to the public interest to have prices reduced to ,i rate wherein thore is no adequate profit to tho producer, pro-ducer, that result will como with tho enforcement of policies which now seem to have so many advocates. But T do not think that is to tho public interest. No man or .body of men can be possessed of largo means without the ability to uso these means, and it is unreasonable to think they will do business at a loss if they know how to prevent it. Would Advance Prices. "In an effort to prevent tho loss it may bo, therefore, that ns an outcome there is an increaso instead of a reduction re-duction of prices. In other words the public would havo tho benefit, if benefit ben-efit it be, of a cut in prices lasting a short time, but following tho cut is the danger of an unnecessary increase. "However, all this is in Hue with what I regard as the natural courso of trado and I entertain as the most positive pos-itive opinion it is bettor for the pro-ducor pro-ducor and tho consumer that the samo amount of profit be made out of large consumption at a Hmaller price than lessor consumption at a larger price. In the view that I entertain the public pub-lic means the consumer, the operatives, the small investor, the combined large body who cannot do business on a considerable con-siderable scalo individually but who wish the benefits which come collectively collec-tively from a business. "I grow up in the belief that not only does the constitution provide but it wisely provides against federal interference." |