The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-01-25
Wall Street Had Grown Nervous Over the
Announcement That the President Was to
Start a Radical Antitrust Campaign

Washington. Jan. 25-President
Taft today made public the following
statement as to his reported crusade
against corporations.
No statement was issued. either
from the attorney generals Office or
the White House. indicating that the
purpose OF the administration. with
reference to prosecutions under the
antitrust law, Is other than as set
forth In the message OF the President
OF January 7th, 1910.
Sensational statements, that there
was to be a new departure and an in
discriminate prosecution OF important
industries. have no foundations. The
purpose of the administration is ex.
actly as already stated In the Presi.
dents message"
The statement was issued after the
President had talked with ]. ]. Hill
and had received the information that
prices were crumbling in New York
under tha yarious reports printed yes
terday and today. There was no
statement from the White House ex-
cept the foregoing.
Mr. Hill. on leaving the White
House, said ne did not pretend to rep
resent or speak for the President in
anything He said he was sure that
the President would not attack cor
porationS OF themselves but only the
sins of the corporations. II the cor
poratlons were violating the laws of
the country. he supposed they would
be brought to book. In his special
message on interstate commerce. and
81 y nafk In
tion with q recommendation for fed
ersl incorporation act, said
TT is the duty and the purpose Of
the executive to direct an investigar
ton 10y the department of justice,
through the grand jury or otherwise.
into the history organization and the
purposes OF all the industrial compan-
les. with respect to which there is any
reasonable ground for suspicion that
they have been organized for a pur-
pose and are conducting business on
a plan which is in violation OF the anti
trust law.
-1cThe work is heavy, but 1t is not
beyond the purpose of the department
OF Justice, IL sufficient funds are FUR
nishcd. TO carry on the Investigations
and to pay the counsel engaged In
the work. But such an investigation
and possible prosecution OF corpora
tionS. whose prosperity or destruction
affects the comfort not only OF stock
holders but of millions of wage earn
| ers. employees and associated trades
men. must necessarily tend to dis
turb the confidence OF the business
community. TO dry UP the now flow
Ing sources of capital from Its places
OF boarding. and produce halt in our
present prosperity that will cause suf-
fering and strained circumstances
among the innocent many for the
faults of the guilty few.
THE question / wish In this mes
J sage to bring clearly to the consid-
Grafton and discussion OF congress is
whether In order to avoid such pos
( sible business danger. something can
/ not he 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
under the lines of the law under fed
eral supervision. securing compliance
with the antitrust statutes
Mr.. Hills visit to the White House,
! II was said. later, was merely a coin
| cidence. Mr. Hill said he had dis
cussed general conditions with the
( President and had not gone into the
subject of the prosecution OF the
trusts.
Normally. conditions are satisfac-
tory In all directions" said Mr. Hill
"but we don't want lot OF wild stor'
I les to get abroad TO cause depression.
Mr. Hin did not want to discuss the
Presidents recommendation as to rail-
road legislation, saying it was too I'm,
portant a subject TO take up "off-hand.
But we do need the rest-cure baa'
! w." he said, adding that the country
| should be allowed full timo to recover
from the panic of 1907. He thought
three or four months Of rest from agi'
tntion would do lot of good