The Oskaloosa herald., 1910-02-10
TAFT WILL NOT
PRESS TRUST BILL
Incorporation Measure Simply
Outlines His Plan.
BELIEVES IT COURT PROOF
Act Represents. Combined Work of
President and Lawyers of cab-
net--corporations Are
Opposed to II.

Washington, Feb S.--With the intro
duction of the federal incorporation
bill in the house and senate President
Taft has now before the country his
comprehensive plans for putting into
effective force the Roosevelt policies
With the interstate commerce bills
already introduced and the federal in
corporation bill all enacted into laws
the president believes there will be al
hand adequate facilities for regulating
the corporations, not only in the pub.
lie interests but for the legitimate
benefit of the corporations themselves
VIII Not Press Passage.
1t is not the intention of the presi.
dent at this time to press the federal
incorporation bill to passage. This bin
simply outlines his plans and rounds
out his scheme for corporation con.
troll. But as it is not one of the meas
ures pledged in the Republican nation,
al platform he will not make it "a part
of his legislative program at this time,
though he will not be averse to the
passage of the law at the present SEES
sion of congress il that can be brought
about Before the expiration of his
term, however, he win do his utmost
to have the federal incorporation bill
placed on the statute books. AT pres
ent he feels that he has taken a for
ward step in placing the bill before
congress and the country, and, what
ever opinion may be expressed about
1t now, the president believes that as
the bill is studied it's provisions will
appeal to the people. /
Think 1t Is Constitutional.
In the shape it was introduced II
represents the combined work of the
president, as well as of Attorney Gen.
eral Wickersham, Secretaries Knox,
Dickinson, Nagel and the other law
yers of the cabinet These eminent
legal minds have brought to bear all
of the legal learning that they possess
In making it supreme court proof, and
it is understood that the president
and the official advisers feel that there
is but one point upon which it may be
attacked, and that is as to its consti-
nationality. The bill takes all such
corporations as avail themselves of
the right of a federal. charter out of
the jurisdiction of the individual states
and makes them. samenable to federal
law alone.4 In the matter of taxation
the corporations will still be subject to
state law, but there is in the presi.
dents mind the thought that in the
event of the passage of the bill con.
gress will make some such provision
with regard to the corporations and
the separate states as is embraced in
the national banking laws, whereby
that to which, private property is sub
jected. 3
Even on this point of constitution,
ality the president believes that the
supreme court will eventually uphold
the law.
1t is learned that the president has
already heard from the corporations
on the subject of the bill They are
opposed to it. Definite information tc
this effect has been conveyed to the
president by George w. Perkins, part
ner Of j. p. Morgan. and Frank Van
derlip, president of the National City
bank. . .. ....-
1T does not relieve us from the bur
dens of the Sherman antitrust law" is
the plant of the corporations.
But as 1t was not the purpose OF
the president, in formulating the pro
posed law, to lessen in any way the
rigors of the Sherman antitrust law
he is not impressed by this plea. Al
. the same time, the president believes
that even the corporations will eventu
ally come around to an attitude in
favor of the measure. .