New-York tribune., 1902-07-15
PRESIDENT AND TRUSTS.
RADICAL TARIFF REVISION NOT A PART
OF HIS POLICY
TO BE THE CHIEF FEATURE
OF PROPOSED LEGISLATION.
IBr TELEGRAPH TO THE TRIBUNE

IBY TELEGRAPH To THE rRIBUNE.l
Washington July 14.-Although the Presi-
dent is not in Washington to speak for himself.
1t can be said on the highest authority that
tirely too much has been made of the reports
that Representative Littlefeld. OF Maine. has
been selected to represent the administration
at the session OF Congress next winter In the
legislation to be initiated for the better regula-
ton of trusts and combinations How this re-
port has gained such widespread circulation
and credence is a mystery to President Roose-
velts advisers. 1t is, of course, true that Mr..
Littleheld is recognized a lawyer of first
rate ability and attainments. but 1t is also true
that he is not the only member of Congress
in whose legal learning and capacity to deal
with so delicate question that of the trusts
the President has confidence. The fact is
that when any kind of so-called antitrust legis-
lation is proposed in earnest it will be known
strictly as an administration measure, and will
probably come from the House Committee
Judiciary. without the name of any member of
either branch of Congress attached TO it. 1t is
possible, of course, that Mr. Lttleheld may
draft a bill that will be considered by the COM
nttee and some features OF which may be
embodied In the measure finally decided upon,
but even If this should happen it would not be
due to the Presidents having asked the Maine
man to do the work
NO NEW POLICY OF THE PRESIDENT.
An interesting feature of this recent anti
trust agitation is that the public. the politicians
and the business world to regard it as
and unexpected development of President
Roosevelts administrative policy. 1t seems to
be entirely forgotten that in his first annual
Message to Congress, last December, the Presi-
dent discussed the subject of trusts with frank
ness and thoroughness, and in that document
used nearly the identical language he employed
in his PittsbUrg speech which has stirred UP
such lively discussion TO his meaning and
intentions. In his Message the President used
the following forceful language In speaking of
the trusts
The tremendous and highly complex Industrial
development which went. on with ever accelerat-
ed rapidity during the latter half of the nine
teenth century brings us face TO face at Tn" be-
ginning of the twentieth with very serious so
cial problems The old laws and the old Gus
toms, which had almost the binding force o,
law were once quite sufficient TO regulate the
accumulation and distribution of wealth. Since
the Industrial changes which have so enormous
ly increased the productive capacity or mankind
they longer sufficient
The mechanism of modern business is so deli
cate that extreme care must be taken not 10
interfere with II in a spirit of rashness or tg-
norance. Many of those who have made II
their vocation to denounce the great industrial
combinations. which are popularly although
with technical inaccuracy, known as trusts,
appeal especially to hatred and fear. These are
precisely the two emotions, particularly when
combined with Ignorance, which unfit men for
the exercise OF cool and steady Judgment. In
facing Industrial conditions the whole his
tory of the world shows that legislation will
generally be both unwise and Ineffective unless
undertaken after calm inquiry and with sober
self-restraint. Much Of the legislation directed
or the trusts would have been exceedingly mis-
chievous had IL not also been ineffective.
All this is true. and yet it is also true that
there are real and grave evils, one of the chief
being overcapitalization, because of its many
baleful consequences; and resolute and prac-
tical effort must be made to correct these evils.
There is a widespread conviction in the minds
of the American people that the great corpora
tionS known as trusts are in certain OF their
features and tendencies hurtful TO the general
welfare. This springs from spirit of envy
uncharita bleness nor lack of pride In the
great Industrial achievements that have placed
this country the head of the nations strug-
Cling for commercial supremacy. 1t does not
rest upon a lack of intelligent appreciation of
the necessity of meeting changing and changed
conditions of trade with new methods, nor upon
ignorance of the fact that combination of capi-
tai In the effort to accomplish great things is
necessary when the worlds progress demands
that great things be done 1t is based upon
sincere conviction that combination and concen-
tration should be not prohibited, but supervised
and within reasonable limits controlled: and
in my Judgment this conviction is right
The first essential in determining how to
deal with the great industrial combinations is
knowledge of the facts-publicity. In the inter-
est of the public the government should have
the right to inspect and examine the workings
of the great corporations engaged in Interstate
business Publicity is the only sure remedy
which now invoke. What further reme-
dies are needed in the way of governmental
regulation or taxation, can only be determined
after publicity mas Deen obtained Dy process or
law and In the course of administration. The
first requisite is knowledge. full and complete
knowledge which may be made public to the
world.
That radical tariff revision is not part of the
Presidents policy to regulate the trusts is shown
by this language in his message:
The creation of great corporate fortunes has
not been due to the tariff nor to any other gov
ernment action. but to natural causes in the
business world. operating in other countries
they operate in our
COLORADO AND RETURN
by the Colorado Special" leaving Chicago $3.50
dqt Tn<N eye vi