Bisbee daily review., 1907-11-19
ROOSEVELT HAS A
NEW TRUST BLUDGEON

WASHINGTON. D. c., Nov. 10
President Roosevelt has a new idea
on trust regulation. He has communi-
Gated it to several callers during the
past few days. 1t is so radical in ma
turc, proposing as it does to invest in
an executive department almost IN
limited power over the affairs of cor
pOrations, as to show that the recent
financial furry has not greatly mOdi-
fed the presidents trust regulation
programme.
The president has told his callers
that he wants a law enacted that will
make it possible for the government
TO put out of business, temporarily at
least, all corporations that are caught
violating the laws, without going to
the trouble of appealing to the courts.
The administration has always been
vexed at the difficulties it has en-
countered in Furnishing the bad trusts.
The Humphreys decision is held re-
sponsible for the failure of the fight
against the beef trust, and other suits
are dragging their weary way through
the courts, so that the net result has
been TO make the administration rec
ord of actual accomplishment in the
courts not very brilliant.
The president wants to Obyiate
these delays by having power vested
in an executive department TO make
short shift of a trust violating the
laws He thinks this can be arranged
in the proposed law requiring inter
state corporations to take out a fed
eral license before being permitted to
engage in interstate trade
The plan, as explained by the pres
ident, is to exact from every corpora
ton securing a federal license a prom
Use to abide by certain conditions
which will be imposed. Violation of
this promise is to lead to the for
fixture of the federal license, with
out which the corporation may not
engage in interstate business.
In order to preserve the cOnstitu-
tional right of the corporation to have
Its day IN court, it is proposed that
an anbeal from tht acts of the eXecu-
tive department may be taken But
this is to come after the government
has had its say. This plan was pre-
scented last week to a number of men
who are associated with large bust
ness enterprises. The purpose of these
men in calling or the president was
to protest against the operations of
a certain trust which the government
once prosecuted and had dissolved
This victory was of no Consequence,
however, for the trust was soon reOrg
anized in another form and has. since
continued It's oppressive tactics.
This led the president TO discuss
the utility of present laws to perma-
nently put out of business the bad
bounds. The presidents callers, when
trusts. He said that a more radical
law is needed if the offending corpora
tons are to be kept within legal
they heard his remedy, maintained
an impressive silence. The idea
seemed to strike them as rather radi-
cal, even though their call on the
president was for the purpose OF com
blaming about the unfair exactions of
a notorious trust which was once sup
posedly crippled by federal suit.
The vigor Of the presidents talk
came as a surprise to the visitors,
some of whom had heard that the dis
turbance in the money centers had
had the effect of modifying his views
with regard to the trusts. They left
the white house convinced that the
president is Just as strongly deter
mined TO control the PAD trusts as
ever
] In this connection an administra-
l ton official today called attention to
/ something the president said on tne
subject of panics in his message 10
! congress two years ago. The preSi-
dent will direct the attention OF con
| gress 10 this warning in his forthcom-
/ ing message and will apply its lesson
I TO the recent panic.
In his message in 1905 the presi-
dent said: "a general failure of crops
I would hurt all of US; again. il the fol
" of man mars the general wellbeing
then those who are innocent of the
folly will have to pay part of the
penalty incurred by those who are
guilty of the folly. A panic brought
on by the speculative folly Of part Of
the business community would huri
the whole business community. Bu'
such stoppage OF welfare, though i
might be severe, would not be lasting
In the long run, the one vital factor
lin the permanent prosperity Of the
countr~ is the high individual char
acter of tne average American work
CT, the average American farmer
wage Garner. business man or prcfes
sional man."