New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-11-01
PRESIDENT DEFENDS
THE ANTITRUST LAW
SAYS Supreme Court Decisions
Have Made Its Intent
Perfectly Clear.
OPPOSED TO AMENDING IT
Business Men Now Know When
They Intend to Stifle Com
petition, He Says in
Reply tc Littleton.


Tended the Sherman antitrust law to-
night in answer to an address made by
Representative Martin W. Littleton, Of
New York. who attacked the law at the
dinner Of the Chamber OF Commerce.
This question has teen eloquently
considered by my friend Littleton." said
Mr. Taft, and regret the matter has
come up here. 1t sayors of harshness to
have difference Of poinion on an occa-
sion of this kind. But | must say what
! think" He continued:
The sherman law has been on the statute
books for twenty years. and has been con-
strued and construed and construed, and
finally by the Supreme Court. The two de-
Cisions last spring, in my Judgment, give II
Ccfuite meaning that any combination in
restraint of trade with the purpose of con-
trolling prices aud sitting competition is Il
violation Of the statute. Men know
whether thcy intend 10 stife competition
and control prices. and all that is neces-
ssIy Boo court OF law Is t. prove the com
linatiou and the intent. That Is all that
IS needed for the enforcement Of any GRIM
iial statute
Law, Is Being Enforced.
l. o.. not pleasant 10 be engaged i'm what
may seem To rC an assault on business. hut
business mon thought this law could not
be enforced. Now the Law can and Is be-
ing enforced, and because Of this VIC hear
tonight that il is 10 be repealed.
7 would cut my hand off before ! would
In business But what has my dear
friend TiftletOn TO offer? Only one course
Is ouen Either We will have indlvidualism
or We will have combinations fl restrain
o. trade going 10 that point where the peo-
ne vill demand that the power OF men en-; en-,
Eased I'm such corporations be Transferred
n the government And then We Will have
state socialism
Vow We can disirtegrate unlawful cor
ro~ations. and put them under injunction
II they operate they must compete.
7 know ! am speaking against the trend
~ many Of YOU. hut ] can't help II. me
law Is on the statute books and must pe
enforced and this sitting Of competition
and this control Of prices must cease. or
We must deliver over to certain gentlemen
the power 10 control absolutely the buSl-
ness Of the country.
hui I want you busine.s men to face this
problem.
Referring 20 the Knight decision. the
President with great emphasis pointed
out that il did not mitigate the purpose
of the statute. but merely seemed to limit
IFS Jurisdiction. and men went on TO com
hine business !n violation of the intent
~ the law because they believed they
we're free from the strong hand Of the
federal government He added that he
WOULD again urge federal incorporation.
The President SPOKE with great ve-
hemcnco. 5ud was enthusiastically ap-
piaud"d.
Littleton Wants Law Repealed.
Mr. Iutlotou. who responded 10 he
toss.. industrial Liberty quoted both
ex-Prcgident Roosevelt and Mr.. Taft AS
having n; ono time or another been will
ing to have the Sherman law amended.
Es ssio. m part:
n seems clear TO INC that tho sherman
Law cannot possibly ho made effective IN
inr determination Of tho real "Nil without
carrying nith IL too largo Sdcriuc" OF
tic whole industrial Fabric and that K
should be absolutely repealed and now
policv o. scheme Of legislation inaugursted
Any new policy must have inherent in
~ the central idea that competition Is the
final law of an life. bW that il is growth,
Just as cooperation is q growth; that IT
is tho laW of trade and barter. but not the
law Of statute. 80 government over had
roots So deep or standards 80 high as 10
enable II 10 enforce compulsory Compeu-
t'on any more than the miGhtiest man Is
sblo 20 make the right hand All earnest
competitor Of tho left. IL viii always exist
form or dNblil'l. bNN u 'dhllbl ht
loci-latcd into commerce any more than
corporation can be legislated into com
merce II H. not competition WHICH We
seek 10 maintain. but the unnindpred right
70 compete with others. ~
Mr. Littlcton suggested that every COR
por5tioI. before it entered interstate
business. bc required 10 submit its status
and it's truc condition to a board created
for that pWpCse, and 10 obtain a license
go do Interstate business. The charter,
he said. should be formal and definite,
and should rccitc the terms OF the grant.
II should he made subject to forfeiture
FOR violation of its provisions. Win such
machinery 20 start with. he said. specific
laws for the guidance and control Of
interstate concerns could he passed by
Congress.
Throughout Mr.. Littleton's remarks 1t
was obvious that he had the sympathy
1f Cd large part Of his audience. His dec
laratioh that the law should be abso-
mtcly repealed and the problem Of com
hiuations attacked anew was greeted
with % volley Of applause and cheers.