To James P. Brown
Washington, November 27, 1912
MY DEAR JIM,—I see your point of view and am glad you have taken the position that you have, because you can demonstrate whether there is anything excepting a sawed-off shot-gun that will compel some editors to tell the truth. …
I shall not read your pamphlet because I have too much other reading that I am compelled to do. My own guess, being totally ignorant on the subject, is that you have violated the Sherman Law, but everybody knows that the Sherman Law should be amended and the conditions stated upon which there may be combination. Do get out of your head, however, the idea that a railroad corporation and an industrial corporation are subject to the same philosophy, as to competition. One is necessarily a monopoly and therefore must be regulated; the other is not necessarily a monopoly, and the least regulation that it can be subjected to the better. We have let things go free for so long that we have created a big problem that sane men must deal with sensibly; not admitting all there is to be right, but recognizing every natural and legitimate economic tendency. With warm regards, believe me, as always,