The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-18
ROOSEVELT NOT
ITS O|SCOvERER
Cure for big Business"
Ills Found First by
Taft.
AGAIN WILL URGE
IT ON CONGRESS
Scheme Which Has Caught Col
onel's Fancy Was Advocated
by President Nearly Two
Years Ago, and Will Be In
corporated in Coming
Annual Message.

| Washington. D. c., November IT,
that is to say, January I, 1910, called
! the attention of Congress to the stu
| alton OF big business" which Colonel
! Roosevelt exploits In his latest mani
| festo. and proposed remedy for 1t.
| Colonel Roosevelt in his article says
: structive" should mark the regulation
OF great business combinations.
The record shows that President
Taft was just about two years ahead
/ OF him in recommending such a pro-
! gram. Until such a policy Is enacted
/ into law. President Taft and his adj
ministration are. of course, compelled
TO act upon the law 1t stands.
The object OF the antitrust law
said President TAFT In his message to
Congress. was to suppress the abuses
! (monopoiies In clear restraint or
! trade. 1t was not to interfere with
ii great volume OF capital. which, con-
| centrated under one organization, re-
! duced the cost of production and made
It's profits thereby and took no ad
vantage OF its size by methods akin
TO duress TO stihe competition with it.
| Emphatic In Distinction.
II wish TO make this distinction az
emphatic as possible, because L con-
ceive that nothing could happen more
destructive to the prosperity OF this
country than the loss OF that great
, economy in production which has been
| and Will be effected In all manufacture
/ ing lines By the employment of large
/ capital under one management
| II do not mean 10 say that there is
| not limit beyond which the economy
/ of management by the enlargement OF
plant ceases, and where this happens
and combination continues beyond this
point, the very fact shows intent to
| monopoliae and not to econonlize.
1T is possible for the owners of d
business of manufacturing and selling
| useful articles OF merchandise so 10
conduct their business as not TO violate
! the inhibitions OF the antitrust law, and
yet to secure to themselves the benefit
! OF the economies of management and
| of production duo to the concentration
under one control OF large capitol and
many plants.
| How to Avoid Lavlessncss.
II they use no other inducement than
| the constant low price of their products
and Its good quality to attract custom
and their business is profitable one,
i they violate "a law But If they
attempt, by use of their preponderat-
ing apital and by sale OF their goods
! temporarily ut unduly low prices. to
| drive out of business their competitors,
/ or IL they attempt. by exclusive con-
| tracts with their patrons and threats of
| non dealing except upon SUCH contracts,
| or by other methods of n similar char
acter 10 use the iargeness of their re-
| sources and the extent of their output,
| compared with the total output. as a
/ 1.ll
cning off competition. then they disclose
a purpose to restrain trade and to cs-
tablish monopoly and violate the act"
1t was such method of doing bus
, mess that the United States Supreme
| Court reprehended in the cases of the
tobacco trust and the Standard Oil
| Company and ordered discontinued. The
government claims that in degree the
steel trust Is guilty of some o. the
same practices
President Taft's PInn.
| President Taft's proposed plan by
! which great business could be carried
on. availing itself OF modern methods
and still not be inimical to the pub
lie interest. was the enactment of
u Federal incorporation law.
81. therefore. recommended" he said
''the enactment by Congress of gen.
eral law providing for the formation
and comerce among the State and with
foreign nations. protecting Thorn
from undue interference by the
States and regulating their activities
so as to prevent the recurrence under
/ national auspices. of those abuses
which have arisen under State control
Such law should provide for the
issue of stock of such corporations 10
an amount equal only to the cash paid
! in on the stock; and IL the stock he
issued for property. then at a fair
! valuation. ascertained under approval
and supervision of Federal authority,
after full and complete disclosure OF
all the facts pertaining to the value
OF such property and the interest
therein of the persons to whom 1t is
proposed to issue stock in payment
of such property.
| ut should subject the men and ner
sonal property only OF such corpora
tions to the same taxation as is i'm
posed by the States within which 1t
may be situated upon other similar
property located therein. and it should
require such corporations to file full
and complete reports of their opera
tions with the Department OF Com
mercc and Labor at regular intervals.
! Corporations organized under this
! act should be prohibited from acquir-
ing and holding stock in other corpo-
rations except for special reasons upon
approval by the proper Federal au-
thority, thus avoiding the creation.
under national auspices, of the holding
company with subordinate corporations
In different States. which has been
such an effective agency in the crea-
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