Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1911-12-08
Mistellansops Rsaaina,
UPHoLDs SHERMAN LAW.
President Taft's Message Devoted to
Trust Issue.

orally well received. The presidents
objection to a repeal Of the Sherman
law was approved by some Of the lead
ers on both sides, although the Demo-
Gratis held that his first message should
have dealt with the tariff. Democrat
ic Leader Underwood said the presi-
dent and the administration were try
ing to overshadow the tariff with trust
issues.
The message Is an able one from
the presidents standpoint" said Mr..
Underwood, but we feel that the lead
ing message should have dealt with
the tariff. There seems to be an effort
on the part Of the president and the
to force the trust is
sues ahead. 1 am opposed to a repeal
Of the Sherman law, but there may be
legislation to define it. I
do not think the house favors a Fed
eral incorporation act.'
Speaker Clark said he could not dis
cuss the message until he had studied
1t thoroughly.
Republican Leader Manu.. who has
not always agreed with the president,
praised the message.
1T is probably the strongest utter
ance President Taft has ever made"
he said. TT shows that he is on the
side Of the people, that he Is not con-
trolled by the trusts and that he does
not wish to cause undue violence to
proper combinations Of capital"
In the house the reading of the mes
sage was interrupted by applause Of
the Republican side.
For lack Of something to do, the
house will not meet until Thursday af-
ternoon and will then adjourn until
The upper body is marking
time on the house
President Taft's third annual mes
sage to congress, devoted exclusively
to the Sherman antitrust act ana the
trust question in general, was read in
congress Tuesday.
The president defended the Sherman
act as interpreted by the supreme
court of the United States, indicated
plainly his opposition to the repeal or
of this statute, but sus-
gested that congress pass a Federal
law and supplemental
legislation that would describe and
denounce methods Of competition that
are unfair"
To supervise corporations chartered
under Federal law, President Taft pro-
posed the creation of an executive bu-
reau, or commission, with powers akin
to those of the interstate commerce
Speaking Of the much discussed dis
solution of the tobacco trust, the pres
ident declared that in his opinion mot
in the history of American law has a
decree more effective for such a pur-
pose been entered by a court.
Portions of his message Of January,
lSlU, OIL
were referred to in this message.
II renew" continued the president,
"the recommendations of the enact
ment of a general law providing for
the voluntary formation Of corpora
tions to engage in trade and COM
merce among the states and with for
eign nations. 1t Is even more mani
fest now than it was then that the de-
Of conspiracies In restraint
OF trade should not, and does not,
mean the denial Of organizations large
enough to be entrusted with our in
terstate or foreign trade. 1t has been
made more clear now than 1t was then
that a purely negative statute like the
antitrust law may we'll be supple
mented by specific provisions for the
building up and regulation Of legiti-
mate national and foreign commerce"
The supplemental legislation the
president desires, Is explained In
THE attempt and purpose
to suppress a competitor by undersell-
ing him at q price so Improbable as
to drive him out of business, or the
making of exclusive contracts with
customers under which they are re-
uuired to give up associations with
other manufacturers and numerous
kindred methods Of sitting competi-
ton and effecting monopoly, should
be described with sufficient accuracy
I'm a criminal statute on the one hand
to enable the government to shorten
its task by prosecuting single misde-
meanors instead Of an entire consplr-
acy, and, on the other hand, to serve
the purpose of pointing out more IN
detail to the business community what
must be avoided"
Mr.. Taft did not attempt to set forth
the details of the Federal incorpora-
ton act he recommended. but sug-
zested that the combinations of capi-
tai allowed to become Federal corpor-
ations should be subject to rigid rules
as to organization and procedure, in
Guiding effective publicity, and to the
closest supervision" as to stock and
bond issues by the proposed executive
bureau or commission in the commerce
and labor department. Federal incor-
poration. the president declared, would
not exempt any concern or its officers
from prosecution under the Sherman
act for illegal acts. Such an act would
be framed so as to prevent 'vexatious
and unnecessary invasion by the
states" but yet permit control by the
states with respect to purely local
business. The courts should be en-
powered, the president said, to invoke
the aid of the bureau Of corporations
in determining the suitable reorgani-
zation of corporations dissolved by de-
crees. This work, he pointed out,
might be entrusted to the proposed su-
pervisory commission which should