Page:Earle, Liberty to Trade as Buttressed by National Law, 1909 45.jpg



Competition does represent, not the productive forces of trade, but only its police. Unfortunately, it is none the less necessary, on that account. Civilization is but a curtailment of competition, a substitution of coöperation for universal strife and enmity. To say, therefore, that a restraint of competition is equivalent to a restraint of trade, is to admit that, however far civilization has advanced, it has not yet eliminated a barbarous degree of selfishness; and, unfortunately, this is so!

But there must be some limitation upon that which disintegrates society; some protection to that which unites. That which raises us from the savage state cannot wholly be condemned; even though men are still so selfish as to necessitate the enforcement of police protection against the results of their cupidity.

While no more able, righteous, or legally correct opinion was ever delivered than that of Mr. Justice Harlan in the Securities case; while I doubt if we can even yet appreciate the obligations we rest under because of it (the Constitution has been subjected to enough strain in any event from the discontent of the people), I must confess that Mr. Justice Holmes in his dissent enunciates much that appeals to me as manifestly true, although, for reasons easily gatberable from this