New-York tribune., 1910-01-26
POLICY ON TRUSTS
NO INDISCRIMINATE
PROSECUTIONS.
President Gains Business Seas,
Troubled By Unfounded
assertions.
From The Tribune Bureau. !

tFrorn The Tribune Bureau.
Washington, Jan. 25-The President
found it necessary to make public at the
White House to-day a statement setting
forth his position with regard to trust
prosecutions, and declaring that sen
sational statements as if there were to
be a new departure ard an indiscrimi-
nate prosecution of important industries
have no foundation" This declaration
of purpose was made necessary in the
estimation of the Chief Executive by
certain exaggerations of his recent dec
larations that there will be entire con-
tinuity of policy in this administration
in dealing with the trusts.
The statement given out at the White
House to-day is as follows:
No 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 set forth in
the message of the President of January
Z. 1910. Sensa tiOnal statements as if
there were to be a new departure and
an indiscriminate prosecution of i'm
pOrtant industries have no foundation
The purpose of the administration is
dents message
The statement was issued after the
President had talked with James j Hill
and had received information that prices
were crumbling in New York under va
rious reports printed yesterday and this
morning. Mr. Hill on leaving the White
House said he did not pretend TO repre-
sent or speak for the President in any
thing he said, but he was sure that the
President would not attack corporations
Of themselves, but the sins of the cor
pora tions. If corporations were violat-
ing the laws of the country he supposed
they would be brought TO book.
HILLS VISIT A COINCIDENCE.
Mr.. Hills visit to the White House,
which preceded the issuance of the state
ment. was. it was said later in the day.
merely a coincidence. Mr.. Hill declared
that he had discussed general condi-
tons with the President and had not
gone into the subject of the prosecution
of the trusts.
Normally conditions are satisfactory
in all directions" said Mr. Hill, but we
don't want lot of wild stories TO get
abroad that will cause depression"
Mr.. Hill did not want to discuss the
Presidents recommendations as to rail-
road legislation, saying it was too i'm
portant a subject 10 take up 'offhand"
But we do need the rest cure badly"
he said, adding that the country should
have full time to recover from the panic
of 1907. He thought that three or four
Of
a lot OF good
In his special message on interstate
commerce and antitrust laws President
Taft, in connection with a recommends
ton for federal incorporation act, said:
It is the duty and the purpose of the
Executive to direct investigation by the
Department of Justice through the grand
jury or otherwise. into the history. organi-
Zation and purposes of all industrial COM
panies with respect to which there is
any reasonable ground for suspicion that
they have been organized for a purpose
and are conducting business on plan
which is in violation of the anti i-trust law.
beyond the power of the Department Of
Justice If sufficient funds are furnished TO
counsel engaged in the work.
But such an investigation and possible
prosecution of corporations whose pros
perity or destruction affects the comfort
not only of stockholders but of millions of
wage earnerS. employees and assocat ted
tradesmen, must necessarily tend to dis
turb the confidence of the business COM
munity. to dry up the flowing sources
of capital from it's place. of boarding and
produce halt in our present prosperity
that will cause suffering and strained cir
cumstances among the innocent many for
the faults of the guilty few The question
which / wish in this message to bring
clearly to the consideration and discussion
of Congress Is whether. in order TO avoid
suon possible business danger. some
thing cannot be done by which the bust
ness combinations NAV be offered a 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
an0 supervision, securing compliance with
the antitrust statutes