The Caucasian. (Clinton, N.C.) 188?-1913, 1911-12-07
PRESIDENTS MESSAGE
Devoted Exclusively % Sher.
man Anti-Trust Law ard
IT. usf 0uextioa ia General


eHE'S Im SnEemas ACT
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President Taf1'a tAira aEnaai saes-
sage To congress was read IS eosA
Houses On Tuesday AfssEnSoa. The
message ~As devoted exclusively %
! the sherman antitrust law kaa tAs
trust question IN gsnsrai Tie prus-
tdent defended she Sherman La.
stated that be ~as opposed 10 the rs-
peal or amendment Of the act. bgs
recommended that congTss. pass q
federal incorporation IAw aad supple
mental legislation that would de-
scribe and dcnoanee methods Of con-
petition that are unfair"
To supervise corporations char
tered under federal 1A~. Preksaers
Taft proposed the creation Of IA en-
ecutIye bureau. or commission. With
powers akin 10 those OF the intss-
state Commerce Commission
i Speaking OF the much discussed
dissolution OF the tobacco trust. the
President declared that In his opin-
ion mot In the history OF American
Law has n decree more Elective for
such q purpose been entered ey q
court"
Portions OF his message OF Janu-
airy. 1910. proposing Federal tneor-
poration were referred TO in this gaes-
sage.
Il renew" continued tue Presi-
dent, "the recommendations OF the
enactment OF general iax providing
for the voluntary formation OF eorpo-
rations TO engage In trade and CON-
merce among the States aad with
forenion nations. II In even more
manifest now than IL was then that
though denounciation OF eonspira-
cies In restraint should not. and does
not, mean the denial OF organizations
large enough TO be entrusted With
. our interstate or foreign trade. IL
has been made more clear nov than
II was then that q purely negative
! well be supplemented by specific pro-
visions for the building up and regu-
lation OF legitimate national and for
eign commerce"
The supplement legislation the
President desires In explained in q
paragraph. The attempt and pur-
pose to suppress . competitor by un-
derseiling him At . price 20 unprofit-
able as 10 drie him out OF business,
or the making of exclusive contracts
with customers under which they are
required TO give up associations with
other manufacturers and numerous
J kindred methods for sitting combeti-
tion and effecting monopoly. should
be described with SUFFICIENT accuracy
in criminal statute on the one hand
TO enable the Government to shorten
Its task by prosecuting single misde-
meanors instead Of an entire con-
spiracy, and, on the other hand. 10
serve the purpose OF pointing out
more In detail 20 the business COM
munity what must be avoided"
Mr.. Taft did not attempt To set
forth the details the Federal iucor-
poratIon act he recommended but
suggested that combinations OF eapI-
tai allowed TO become Federal corpo-
rations should be subject 10 rigid
rules as to organizations and pro-
cedure. including effective publicity.
and to the closest supervision" a.
10 stock and bond Issues By the pro-
posed executive burea or commission
in the commerce and labor Depart
ment- Federal Incorporation. the
President declared. would not exempt
any concern or its oficers from pros
ecation under the Sherman act for
Illegal acts. The courts should be
empowered. the President said, 10 In
woke the aid of the Bureau Of Cor
poration In determining the suitable
reorganization OF corporations dis
solved by decrees- This work. he
pointed out, might be entrusted 10
the proposed supervisory commission
which should be an executive tribu-
nal. OF the dignity and power OF the
comptroller Of the currency or the In
terstate commerce commission"
Again referring 20 the Sherman
law. the President says:
i The antitrust act In the express
sion CT the effort OF q freedom low
Ing people TO preserve equality OF op-
portunity.
@This statute n construed BY the