Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1911-12-07
Message to Congress Advocates
Federal License.
"LET SHERMAN LAW ALONE "
ganize Under Federal Law and Be
Subject to Strict Supervision
by Industrial Board.

Washington, Dec. 6-Standing I'M
is today, President Taft still would
like to supplement it with "volun-
tary" federal incorporation act.
This plain statement of the admins
tration's position on the trust question
was the sole subject of the short, clear
message sent from the White House
to the second session of the Sixty-Sec-
ond congress.
The constructive policy" of the
message may be summed up in these
sentences:
renew the recommendation of the
enactment of general law providing
for the voluntary formation of cor
porations to engage in trade and com
merce among the states and with for
eign nations.
1t is even more manifest now that
the denunciation Of coEspiracies in re-
straint Of trade should not and does
not mean the denial of organizations
large enough to be intusted with our
interstate and foreign trade
Federal corporations should be sub
ject to rigid rules as to their organiza-
ton and procedure, including effective
publicity, and to the closest super
vision as to the issue of stocks, and
bends by an executive bureau or com
mission in the department of com
merce and labor to which in times of
doubt they might well submit their
proposed plans for future business.
Such bureau should be an execu-
tive tribunal of the dignity and pow
er of the comptroller of the currency
or the interstate commerce commits
sion.
1t must be distinctly understood that
incorporation under a federal law
could not exempt the company thus
formed and its incorporators and man
ayers from prosecution under the anti
trust law for subsequent Illegal con-
duct, but the publicity of it's procedure
and the opportunity for frequent con-
sutation with the bureau or commits
sion in charge of the incorporation as
TO the legitimate purpose of its transac-
lions would offer 1t as great security
against successful prosecutions for VIC
lations of the law as would be success
full or wise
The president expressly declined to
set forth these general principles in
terms and sections of the statute"
Against amendment or repeal of the
Sherman law Mr.. Taft blazed forth
with an intensity and passion that
have not been found in all his mes
sage
He denounced as "glittering gener.
alities" all recent suggestions for
changing the antitrust act He could
see some advantage, he said, in Sup
Elemental legislation which shall de
scribe and denounce methods of com
petition which are unfair and are
badges of unlawful purpose" but he
had no patience with those who sought
to alter the Sherman law-"the ex
preston of the effort of a freedom.
loving people to preserve equality of
opportunity"
This statute" he reiterated, "as
construed by the supreme court must
continue to be the line of distinction
for legitimate business"
The president carefully defended the
great dissolutio.s made under the
antitrust act He praised the North.
ern Securities decision; he said that
the Standard Oil company had been
compelled to dissolve and of the Amer
lean Tobacco decree he asserted that
mot in the history of American law
has a decree more effective for such
purpose been entered by court"
AS to further prosecutions for viola
tons Of the Sherman law the execu
tive had this to say:
"As the offense becomes better I'M
Gerstood and the committing of ii par.
takes more of studied and deliberate
defiance of the law, we can be conf.
dent that iuries will convict individu-
ais and that jail sentences will be i'm.
posed"
The message concluded with an ap-
rendix showing the number of trust
prosecutions instituted by all admin
istrations since 1890. Seven were
credited to President Harrison, eight
to Cleveland, three to Mckinley. forty.
four to Roosevelt and thirty-seven to
Taft to date.