The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-01-26
PRESIDENT NOT BEAR
RumOr His Statement Caused
Slump Refuted.
HIS MESSAGE A WARNING
After the Wild TumbIing of Prices
in Wall Street, an Administrative
Statement Is Issued Denying that
Trust-bustinE Campaign IL
About to Be Prosecuted.

According to men close 10 the admin
| istration yesterday. the slump in the
stock market might have been avoided
had attention been paid to what the
President said in a recent message. Il
was commended by these men that the
idea had gained currency among a good
many business people who had read the
message that Mr. Taft did not mean
what he said, while others having big
business interests had either read the
message carelessly, or. having read OF
heard OF its contents had overlooked its
significance
Since the message was delivered 70
Congress a lot OF gossip has come 10
Washington from other places that Mr..
TAfts policy toward the trusts was go
ing to be exceedingly mild. and there Is
some reason TO believe that talk OF this
character. following the plain statements
OF the President in his special message,
reached the White House and served to
annoy Mr. Taft
Reports Arouse Administration.
Nothing has tended 10 make the Presi-
dent and his official advisers get out Of
patience more than the repetition OF
statements that Mr.. TAFT was pursuing a
vacillatinE course.
1t Is maintained by those closest to
the President that his attitude has been
absolutely consistent
Already the Attorney General has be-
gun preparations for instituting an In
curry into the affairs OF trusts which
are suspected OF violating the antitrust
law.
News OF the slump IN New York stocks
was brought 10 the Cabinet. IA session
the drop. When Il was learned that the
fall was attributed 10 the publication OF
statements that President Taft was to
engage in a trust-busting campaign every
one got busy.
Statement from Taft.
As a result OF a discussion OF the mat
ter between the President and his official
advisers, the following statement was
given TO the press after the Cabinet
adjourned:
M statement has usued either from the Attorney
Generals Office or from tie White House indicating
that tie porposs q the administration with refer
ence 70 prosecutions under the antitrust law is
other than set forth in the message o. the Presi
dent Of January !. 1910. Sensational statements as
II there % be departure and an inds-
crininate pTussCltion Of important industries have
foundation Tbs purpose q the administration
is exactly already stated In tbs Presidents mes
sage.
The message TO which the President
refers was his special communication
recommending amendments 70 the inter-
state commerce law and the enactment
of a law providing for the issue Of GER
tifiCateS Of incorporation by the Federal
government TO corporations engaged in
interstate commerce. IN that message
President Taft said 1t was his duty and
purpose to have the Department Of Jus
tice investigate, through the grand jury
or otherwise, to ascertain whether there
was ground to suspect that Industrial
corporations were violating the antitrust
law. The President indicated that he
realized the danger 20 business that
might ensue from such a course. and put
forward the idea that business danger
might be averted through offering to
combinations means Of changing their
character 50 as to bring them directly
under Federal control and supervision.