The San Francisco call., 1910-01-26
PRESIDENT ALLAYS
FEARS OF STREET
Issues Reassuring Statement
Regarding Prosecution of
the Trusts
Disclaims Intention OF Making
Indiscriminate Attack on
Corporate Wealth

WASHINGTON, Jan. 25-President
Taft today made public the following
statement as to the reports that "the
administration is planning crusade
against unlawful combinations of cap
ital:
mo 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 messag ge of the president
of January Z, 1910
Sensational statements that there is
to be an discriminate prosecution OF
important industries have no founda-
ton. The purpose of the administra-
ton is exactly as already stated in the
presidents message"
The statement was issued after the
president had talked with James J..
Hill and had received the information
that prices were crumbling in New
York under the various reports printed
yesterday and today.
HILL TALKS
Hill, on leaving the White House.
said he did not pretend to represent or
speak for the president in anything he
said. He was sure. however, that the
president would not attack corpora
tions of themselves, but only the sins
of the corporations. If the corpora
tions were violating the laws of the
country he supposed they would be
brought to book" He said he had dis
cussed general conditions" with the
president, and had not gone into the
subject of the prosecution of the
trusts.
Conditions generally are satisfac-
tory in all directions" said HILL "but
we do not want a lot of wild stories to
get abroad that will cause depression"
SPECIAL MESSAGE
In his special message on interstate
commerce and antitrust laws, Presi-
dent Taft, in connection with a recon-
mendation for a federal corporation
act, said:
1t is the duty and purpose of the
executive to direct an investiga-
tion by the department of justice,
through the grand jury or other
wise, into the history. organization
and purpose of all the industrial
companies with respect to which
there is any reasonable ground for
suspicion that they have been or
ganiZed for a purpose and are con-
Quoting business on a plan which
is in violation of the antitrust
law.
The work is heavy. but it is not
beyond the power of the depart
lnent OF justice, II SuIlc1ent Iun0S
are furnished to carry on the in
vestigations and to pay the coun-
sci enga ged in the work.
But such an investigation and
possible prosecution of corpora
tions, whose prosperity or destruc-
tion affects the comfort, not only
of stock holders, but of millions of
wage earners, employees and asso-
ciated tradesmen must necessarily
tend to disturb the confidence of
the business community, to dry up
the now flowing sources of capital
from its places of boarding, and
produce a halt in our present pros
perity that will cause suffering
and strained circumstances among
the innocent many for the faults
of the guilty few.
The question I wish in this mes
sage to bring clearly to the con-
sideration and discussion of con-
gress is whether in order to avoid
such a possible business danger
something can not be done by
which the business combinations
may be offered a means, without
great financial disturbance, of
changing the character, organiZa
ton and extent of their business
into one within the lines of the
law under federal control and su-
pervision, securing compliance with