New-York tribune., 1908-03-22
PRESIDENTS PLAN
FOR LEGISLATION.
FIJ'E NE1SURES OF GREAT
IMPORTANCE on 1T.
Tariff ReUiaon, Concessions to Labor
and Capital. and Aldrch Bill
Support from Vest Pledged.
rErnnn The rrinrra Brr-eau- 7

WASHINGTON, March 21--Ths President VIII
send to Congress next week IA all probability On
Wednesday a message defining his ies.siatfvs
into law. II embraces ave important measures
each OF which involves perplezing difncuiuse
and will have a far-reaching effect the bust
ness and economic conditions Of the country
The programme is the product OF conferences az
which the President has been put IN possession
Of the views of ali interests concerned and ths
attitude OF the leaders in both branches OF Con-
gress has been made known It's success de-
pends on the combined effort which he believes
can be brought to bear in behalf OF the Vhcls
plan by those affected especially by some one Of
its features The programme includes:
a declaration ~ favor Of revision of ti-s
4. 1909.
An amendment to tho Sherman antitrust Isss
so as to make important concessions TO eorroi-
nations OF both labor and capital.
Limiting the powers OF certain courts ~ tas
use Of the injunction in labor disputes
Passage Of an employers liability o,it
Passage of the Aldrieh financial bill.
WHITE HOUSE CONFERENCES.
The support of business and financial Interests
of the Middle West was pledged 20 the President
on this programme following extended con-
ference held at the White House last night A
most satisfactory conference was held at the
Presidents Offices to-day with leaders OF the two
houses of Congress The details of last night.
meeting were purposely withheld, pending tbs
morning conference. Al the close OF the latter
the following statement was made public BY
Secretary Loeb:
At a conference with the President held 20
the White House last evening with the follow
Middle West, Richard c. Hall (Chairuanl. prssi-
dent Of the Chicago Association or Commerce.
j. V. FarwelI, jr.. member of the Chicago A.
sociation of Commerce: Charles H Nacksr-
member OF the Chicago Association OF Com
merce; James z Smith, president Of the -
Louis Business Mems League, Festus J. Wade.
of the executive committee OF the 81 Louis
Business Mems League; H. b Topping. presi-
dent OF the Kansas City Commercial Club: g X
Parker, ex-president OF the Kansas City Com
merciaI Club. and L VI Clendennins- secretary
OF the Kansas City Commercial CI1h. the fol-
lowing address was presented 70 the President.
and there was a full expression Of views both
on the part Of the President and the COMMITTEES:
Mr.. President. the crssniza5ion we rep-es@nt b.s-
membership of abou- forty-hve hundred business
mcn. corporations 1irrns and taaividusIz sngagsd
in the development Of the agricultural t
the manufacturing. commercial and financial inter-
ests OF the Middle West In the pursuit our
Gus lines Of business in contact with a.
most every portion Of The country bur especially
ths Mississippi Valley We never a
prosperous condition than prior the panic o.
last fall Our labor all employed. our capital
tons have changed Certain lines Of business arr
almost srssuant. brought about bv tne fear OF ts
people To ths stability OF some Of oUr i1sJit-
lions. Money has been boarded instead OF flowing
Into the ordinary channels or investment securities
and The various commercial interests
Two prina ~ causes responsible for this con-
dition. First The gross violation OF IaV By scT1e
corporations and grsfring by some public officials
and secondly. deficient currency system wholly -
CapahIr Of responding needs Of commerce vhert
fear and uncertainty eDEeuer in the minds -
the nas~.S The starting of This period Of unrest
Tho
insurance Investigation IL New York. where n Tss
shown that the trustees Of corporations acting
millions Of our people and representing in assets
more than q thousand millions Of dollars had ir'
some instances used the assets Of the corpora o1f
in direct violation Of law Following this came ~
great calamity Francisco. almost destroying
sixth great city Of the nation entalIHg leSs
Of several hundred million dollars inPoveriships
he citizens a. we'll aS the insurance companies
Then upon the heels OF this disaster We find ths
public officials OF that city charged 7l'h te Ni'a
ton Of almost every trust while tne peope
battling for existence We also rad the srafttu<
and bribery that unesrrlleFf in at least t1Fss
other important cities, ana many came tu4 -
pOsure high finance ranipuIationS OF the assets
OF great railroads followed by the Conr tctiou o.
their officials also those OF larg industrial cor
porati0uS for utter disregard Of the laws 0f rhS
nation and the state When these things are con
sderad no one can express surprise that the conf
dence Of the people should b shaken To you. NJ
President we accord the credit due FOR compelling
respect Of the law by the great and small alike
We believe that your work toward business NOR
aIity will BE- remembered a milestone not only n
the development OF this Couutrys business n1orst'
hrr q
We believe the business integrity or the aVeras.
merchant n this country ~ of a higher STANDARD
than in any other ne therefore appre'ttF '1Il
mend all the more your fearless aclVl,E "I-i - -
resulted in raising the standard and We Tesiiz'
that no greater service has ever been rendered our
country.
No great good has ever been accomplished in any
times without suffering in consequence but 7 >
now urge you consider with extreme patience tas
unusual conditions that prevail. ard while sba1-
doninG no expressed principle % adjust your eNsc
tive actions 10 the requirements of tAIs period ~
business tiTuidiry-
gross the corrective measures YOU deem e neCesssT
sumption Of normal business coudlLlonS can % uan
by the Congress in response 70 explicit reCcinen1s-
tions by the executive
\ subcommittee consisting Of Messrs- Hail.
yacker Smith and Topping called on the Presi-
dent at the executive Office this morning ard
they were informed by the President that ~
would probably communicate to Congress neNr
week explicit recommendations concerning thu
legislation needed
The President Senator AIdrich and RePrssen-
tatfves Payne OF New York. DalzeIl. OF Pennsyi-
yania and Hepburn. OF Iowa, took part in tho
conference to-day. The chief subject considered
was tariff revision. but there Will be other con-
ferences al which these questions viii be taken
up in detail
An agreement was reached between the Pres
ident and the leaders of the House and Sen-
ate in favor OF a declaration for revision of tE>
tariff at d special session 10 be held after March
8 1909 IL was decided that the best manner
in which to prepare for the legislation Is U
have investigations conducted by the Ways ami
Means. Committee of the House and the Finance
Committee of the Senate These Investigations
will not be in the form OF hearings. but experts
will be called in TO assist the committee IN pre-
parfng data The plan is opposed to the Sp-
poiEtrnent of a tariff commission such a. -
proposed in the Beveridge and La Toilette otilS-