Los Angeles herald., 1910-01-26
TAFT WILL NOT
ATTACK TRUSTS
DENIES HE PLANS CRUSADE ON
INDUSTRIES
James j. Hill Has Private Talk with
Chief Executive and Reports
"Everything o. K."-Presi-
dent Issues Statement
Associated Pressl

WASHINGTON, Jan. 25.-President
Taft made public today the following
statement as to the reports that the
administration is planning crusade
against unlawful combinations Of cap
ital:
mo statement was issued either from
the attorney generals office or the
White House, indicating that the pur-
pose of the administration with refer
ence to prosecutions under the anti
trust law is other than as set forth in
the message of the president OF jan
uary Z, 1910.
sensational statements as if there
was to be a new departure and an in
discriminate prosecution of important
Industries have no foundation. The
purpose of the administration is eX-
actly as already stated in the presl-
dents message.
This statement was issued after the
president had talked with James j.
Hill and had received information that
prices were crumbling in New York
under the various reports printed yes
terday and today There was no state
ment from the White House except the
foregoing.
MIR. Hill, on leaving the White House,
said he did not pretend to represent or
speak for the president in anything he
said, but that he was sure the presi-
dent would not attack corporations
themselves, but only the sins of the
corporations. If the corporations We're
violating the laws of the country he
supposed they would be brought to
book.
What He Said
,Na,ss to-,
commerce and antitrust laws President
Taft. in connection with a recOmmen-
dation for a federal corporation act,
said:
1T is the duty and purpose of the
executive to direct an investigation by
the department of justice through the
grand jury or otherwise, into the his
tory, organization and purposes of all
the industrial companies with respect
to which there is any reasonable ground
for suspicion that they have been or
ganized for a purpose and are conduct
ing business on a plan which is in vio-
lation Of the antitrust law.
1.-THE work is heavy, but it is not be-
yond the power of the department of
justice, if sufficient funds are fur
nished, to carry on the Investigations
and then pay counsel engaged in the
work.
But such an investigation and pos
sible prosecution of corporations whose
prosperity or destruction affects the
comfort not only of stockholders but
of millions of wage earners, employees
and associated tradesmen must neces-
sarily tend to disturb the confidence of
the business community, to dry up the
now flowing sources of capital from its
place of boarding and produce a halt
in our present prosperity that will
cause suffering and strained circum-
stances among the innocent many for
the faults of the guilty few.
1.-THE question l wish in this message
to bring clearly to the consideration
and discussion of congress is whether
in order to avoid such possible bust
ness danger something connot be done
by which the business combinations
may be offered means, without great
financial disturbance of changing the
character, organization and extent of
their business into one within the lines
of the law under federal control and
supervision, securing compliance with
the antitrust statutes"