The Washington times., 1910-03-29
BIG CORPORATIONS
SEE CHAOS AHEAD
Blow Which Will Make
Panic of 1907 Seem
Tame, Predicted.
Continued from First Page1

I,iT. TAFT had realized until recently the
tremendous blow which must apparent
" be inevitably inflicted on the invested
capital. Of the country
The corporations admit that they have
on their payrolls no attorneys with the
brains Of the genius to tell them how 10
hold together and stay within the law.
Any lawyer who could DO this could
command any price in New York today
II remains, therefore, for the Admins
tratiOn 70 shoulder the responsibility OF
what Is 10 come.
The Department OF Justice. armed as
II is with the results OF its investigation
OF the past three months, stands ready
upon the rendering of the decision in
the tobacco and oil cases to prosecute
the trusts and corporations which have
made themselves liable 10 such action
The courts decisions may say that
every holding company is illegal and
therefore, II and all its SUBSIDIARY com
panieS are breaking. the law or il NAV
only say that those combinations and
corporations which comprise monopoIies
and actually restrain trade are viOlat-
ing the law.
Or it may say both Of these things
Either one of the propositions would
be disastrous to the present methods
and customs Of the corporations.
Taft Is Pledged.
So far the cries for help that have
come TO Washington from Wall Street
have ELECTED but little assurance of
help from the Administration For this
there are two reasons Mr.. Taft he
lleves in enforcing the spirit and the
letter OF the law. and he is solemnIv
pledged in the platform on which he
was elected and in his speeches since
his election 70 take strong action
against the corporations.
Politically there is the greatest incen-
tive for such action. The punishment
OF OFFENDING corporations will be one Of
the strongest cards the Republican
party VIII be able 10 play in the com
ing campaign for the election Of the
next House Of Representatives. The
abandonment OF the Administration
attitude on this subject would result in
one Of the most sweeping defeats the
party has ever suffered
Because OF all these things the sttua-
ton resolves itself down to the fact
that the corporations. confronted by the
elimination of the popular demand for
their punishment, must shit fOr them
selves and beat about for some way Of
tranSacting their business and cOnuinu-
ing their existence without making
themselves and their officers liable TO
the severest penalties OF the law.
No Escape in Sight.
Whether they can do this or not, the
are exceedingly alarmed over the sltUa-
ton. so far they have been able to
see no escape from the danger which
threatens them.
There has been much talk Of good
trusts and bad trusts" but II Is
thought by the lawyers who have
looked into the matter that the Admin
istration will be able 70 exercise but
little latitude in furnishing immunity
10 those holding property and monopo-
lies which Will be declared against the
law, according 70 the expectations OF
the Administration.
The situation becomes all the more
grave when IL is realized that the court
will probably hand down the tobacco
decision on April 4. and that the De
partment Of Justice Will get busy with
It's prosecutions Immediately thereafter