The Montgomery advertiser., 1904-10-21
SENATOR KNOX SPEAKS
.oosryrIr AND THE TRUSTS HIS
 SUBJECT.
s.x. President Holds to the View that Combinaticns of Capital Should
 ne Regulated and Not De- atroyed.

New York. Oct. 20.--Senator Philan- fer ~. Knox was rendered reception here tontrht by the Union League Club. There was no other guest of the club and none other than Union League members were present.
 Senator Knox was given a cordial rreetfnr. He reviewed the attitude of inc Republican party towards the great corporations and gave in detail the situation as it confronted President Roosevelt at the time the question of the legality of the Northern Securities Company was brought up, Of this the speaker said:
 .arhe President did not hesitate long in reaching a conclusion and an- nounced that the position of the ad- ministration was that the power of Congress to regulate commerce with foreign nations and among the several States and with Indian tribes was plenary and extended to all kinds of traffic and it's instrumentalities.
 .aThus matters stood in December. 1902. when the first session of the Fifty-eight Congress was convened. The President had announced his views of the supremacy of the Federal pow CT in respect of commercial inter- course between the States and with foreign nations He had caused to be instituted, among others. four suits. each one of which involved new fea- lures, either in the makeup of combi- nations, or in their effect on com merce."
 In the course of legislative proceed ure. the speaker said, he as Attorney General was asked by the Chairman of the Judiciary Committee in the re- spective branches of Congress for sug- restions as to what might be desir- able in the way of further Legislation before con sideration was begun or the various bills introduced in Congress, based on the proponent view of the Presidents conception of the scope of the Congressional power. These res quests. he said, were at once brought to the Presidents attention.
 Now here was an opportunity, MT Knox continued, tor President wh0 deIighted to make inroads on the Con- stituttou. to indulge himself to his hearts content. If he had closed his eyes and picked at random from the fifty-one bills and resolutions then pe- fore Congress, he would likely nave drawn one that violated the Constitu- ton in several places. That oeIeo' characterized many of them.
 ..T had the honor to be deputed by the President to express the conclusions he had reached. and d.1 so. It was stated to be the Presidents views that inc end desired was that combinations of capital should be regulated and not destroyed, and that while enectual measures should be taken to correct the tendency towards monopoly, yet even the suggestion of Legislation regulating the business interests of the country beyond the point necessary to accom- pifsh that end was thing to De avoided.
 That 1t was believed that monopo- ly in any industry would be impossi- blo in this country, where money IS abundant and cheap, and in the hands or within the reach of Keen ana oapa, bie men, if competition were assured a fair and open field and protected against unfair, artificial and discrimi- mating practices.
 That comprehensive plan should be framed to enable the government to get all the facts bearing on the organiza- tion and practices of concerns engaged in interstate and foreign commerce essential to a full understanding there of.
 Another step in legislation which was earnestly recommended was an act to speed the final decision of cases under the antitrust law.
 Every one of the presidents sugges- tions was promptly acted on and be- came a law before the expiration of that session of Congress"
 The former Attorney General quoted from the New York Democratic plat from of April IS last upon which he said Judge Parker stood while seeking delegates to the national convention and which declared that Corporations chartered by the State must be sub jected to just regulation by their State"
 This declaration he said, meant that regulation by the United States should be excluded, as the nature of the sub ject does not admit of the exercise of dual authority.
 Judge Parker" the speaker went on. says leave the trusts to the com- mon law, which means leave them alone as the common law furnishes no remedy to prevent combinations in restraint of trade, while the Democratic platform 'denounces rebates and dis criminations by transportation compa- nies as the most potent agency in pro- noting and strengthening these un-