The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-01-28
The President and the Trusts.

Since the fact has come to be generally
accepted that there are good trusts as
well as bad trusts. public opinion is not
inhamed against all trusts as it was a
few years ago.
The country has become more rational
in its attitude. 1t appreciates the almost
ihsurmountable difficulties attending the
solution of trust problems. and fully
approves. we have no doubt, the Presi-
dents manifest and expressed dispose
ton to have all big corporations brought
in line with the antitrust law by means
and methods that viii least injuriOusly
affect business. It hailed the substantial
signs OF returning prosperity. and wants
to see no step taken now, if it can prop
erly be avoided, that will unnecessarily
disturb or retard prosperity.
But while in a mood to frown upon
any tendency toward running amuck'
"a procedure impossible to conceive Of
under a judicial administration-the coun-
try, we are likewise convinced is equally
in accord with the Presidents insistent
desire and demand taat corporate inter
ests be adjusted, as speedily as public
welfare viii permit TO meet the require
ments of the law. He would be unfaith-
ful 10 his duty if he did not insist upon
respect for and compliance with the law
always
Conscious that extraordinary conditions
produced by an extraordinary era can
not be dealt with and corrected through
governmental agencies. investigations.
and prosecutions without possible bust
ness danger, the President said TO Con-
gress on January ::
The question which I wish in this message TO
bring clearly 10 the consideration and discussion Of
Congress is whether in order to avoid such posi-
bic business danger from investigation and possible
prosecution something cannot be done by which the
business combinations may be offered means with
out 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"
Surely no menace can be detected in
this-no threat or symptom OF running
amuck," or basis Of alarm. 1t is con-
servatism in keeping with the situation,
and so it must be accepted, If intelli-
gently construed, even by the corpora
tons affected
The phase of this trust situation which
most vitality concerns the people is this:
They have not been told which are the
good and which the bad trusts. The
Bureau OF Corporations has not enlight-
ened them as 20 the corporations or
combinations conducted within the law
and those doing business coRrary to
law. or course. the public has known
that the government was moving against
the Standard Oil Company-which, what
ever may be said Of it otherwise, has not
exacted high prices-and contemplated,
apparently. an attempt TO dissolve the
beef trust but the investor has had no
knowledge, and no way of securing
knowledge, as to the legal or Illegal
operations Of corporations generally.
It is this large class Of people who
have acquired in good faith stock In
corporate organizations, but have had no
direct part in their formation or control.
that are entitled to paramount considera-
ton at this time. and it is evident that
the President would see their interests
rightly conserved. That Congress. in
legislating upon the subject, will be any
the less mindful of this public interest
IS a thought not to be entertained for an
instant
In the very nature Of things. both the
administration and the Congress must
move carefully and deliberately. but with
the one aim constantly in view-super-
vision and regulation under just IeglsIa-
ton that Will protect all interests in
volved, and protect them fairly.