The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1911-12-08
A MESSAGE
FROM TAFT.
THIRD ANNUAL MESSAGE FROM
HIM TO CONGRESS.
CHAMPIONS THE SHERMAN LAW
NO REPEAL OR AMENDMENT is
NEEDED FOR THE MEASURE.
BUT SUPPLEMENTAL PROVISION

poration Is Recommended by Him.
Washington, Dec. president
Taft's third annual message to cong
ress, devoted exclusively to the Sher.
man antitrust act and the trust ques.
ton in general was read in congress
today
The president defended the Sherman
act as interpreted by the supreme
court OF the United States, indicating
plainly his OPPOSITION to the repeal or
amendment of this statute, but sug-
gested that congress pass a federal
incorporation law and supplemental
legislation that would describe and
denounce methods of competition that
are unfair"
TO supervise corporations chartered
under federal law, President Tart
proposed the creation of an executive
uuItuu VI COMMISSION WIFI powers
akin to those of the interstate COM
merce commission.
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 decree more effective for
such "A purpose been entered by
court"
10 the Senate and House Of Repre-
sentatives
This message is the first Of several
which | shall send to congress during
the interval between the opening OF
its regular session and it's adjourn.
ment for the Christmas holidays. The
amount OF information to be commu.
niCated as to the operations OF the
government the number of important
subjects calling for comment by the
executive and the transmission to con
Gress of exhaustive reports of special
commissions make 1t impossible to In
clude in one message of reasonable
length discussion of the topics that
ought to be brought to the attention
of the national legislature at its first
regular session.
Tho Antitrust law-The Supreme
Court Decisions.
In May last the supreme court hand
ed down decisions in the suits in equi-
~ brought by the United States to en-.
Join the further maintenance Of the
Standard Oil trust and of the Ameri.
can Tobacco trust and to secure their
dissolution. The decisions are epoch
making and serve TO advise the bust.
ness world authorItatively of the
scope and operation of the antitrust
act of 1890 The decisions do not de-
part In any substantial way from the
previous decisions of the court in con-
STRUNG and applying this important
statute. but they clarity those deci.
siOns by further defining the already
admitted exceptions to the literal con.
struction OF the act. BY the DEGREES
they furnish useful precedent as to
the proper method of dealing with the
capital and property of illegal trusts
These decisions suggest the need and
wisdom Of additional or supplemental
legislation to make 1t easier for the
entire business community to square
with the rule OF action and legality
thus finally established and to pre-.
serve the benefit, freedom and spur of
reasonable competition without loss OF
real efficiency or progress.
No Change In the Rule Of Decision
Merely In Its Form of Expression.
The statute In its first section de
clares to be Illegal every contract
combination IN the form of trust or
otherwise or conspiracy in restraint
of trade or commerce among the sew
eral states or with foreign nations"
and in the second declares guilty of n
misdemeanor every person who shall
monopoize or attempt to monopoli2e
or combine or Conspire with any other
person to mouopolize any part of the
trade or commerce of the several states
or with foreign nations"
In two early cases, where the statute
was invoked TO enjoin transports.
ton rate agreement between inter
state railroad companies, IT was held
that 1t was no defense to show that
the agreement as to rates complained
Of was reasonable at common law, be.
IL was suiNl llul Tue SNululC W as
directed against all contracts and com.
binations In restraint OF trade, whether
reasonable at common law or not. II
was plain from the record, however,
that the contracts complained Of in
those cases would not have been deem.
ed reasonable at common law. In sub
sequent cases the court said that the
statute shonld be given a reasonable
construction and refused to include
within its inhibition certain contrac.
tual restraints of trade which It de.
nominated Ms incidental or as indirect
These cases OF RESTRAINT Of trade that
the court excepted from the operation
Of the statute We're instances which
M common law would have been cali
ell reasonable In the Standard oil
and rOlncco r"SeS, therefore, the court
CONTINUED on eighth page)