Milford chronicle., 1911-09-22
TAFT PRAISES
TRUST DECISION.
Defends Supreme Court Rul-
ing in Speech,
CHALLENGE TO W. J. BRYAN

DeHes Nebraskan and Others to Show
Where Judicial Interpretation Has
Taken Sting Out of Sherman Act.
President Taft, at luncheon with the
board of commerce in Detroit, Mich,
made the first of what may be termed
the political speeches of his six weeks
tour of the country. He took up the
trusts" and clearly outlined his views
concerning them.
He defended with vigor the decis-
ions of the United States supreme
court in the Standard Oil and tobacco
trust cases, and there was a distinct
campaign note in Mr. Taft's challenge
to his ancient political enemy, William
Jennings Bryan, to point out what par
licular contract or restraint of trade
he would condemn which would not be
condemned within the defnation of the
statute as laid down by Chief Justice
White.
Mr.. Taft added rather significantly
that persons who do not understand
the decisions and really do not under
stand the law have had a great deal
to say about them. It was not fair to
the court, he declared, to say that it
had read the word reasonable" into
the antitrust salute.
The president, in his speech on
TRUSTS wasted no time in plunging
into the heart of his talk He made it
plain at the outset that he had no pa
tience with critics of the supreme
court, and particularly with those who
disapproved the decisions in the
Standard Oil and American Tobacco
cases.
He said that nothing was further
from the truth than was the belief that
the Sherman act had been emasculat-
ed by reason of these decisions. On
the contrary. he insisted, the supreme
court had defined by its judicial con-
certain broad and indefinite
expressions which had tended to make /
the act imperative He said:
1T has required twenty years of lit /
igation to make the statute clear But /
now it is clear"
Saying that he would not attempt
W 5AFC a Ia " GA-lANC iAllGl Bl ENaAlOu "
the decision, the president declared
that he thought he was safe in saying
that the court had found that any con-
tract in restraint of trade, made for
the purpose of excluding competition,
prices or maintaining a
was in violation of the act
Mr.. Taft then challenged "Mr. Bryan
,r any of the other publicists and jur-
sts who have been denouncing this
opinion, to tell the public just what
contract or combination he
would condemn that this definition did
lot cover.
Concerning the muchly discussed In
reduction of the word reasonable"
nto the act the president declared
hat the supreme court had simply
iven a reasonable construction to the
tatute and had eliminated from the
enalties Ct its enforcement those
harmless, useful incidental restraints
rowing out of lawful contracts which
re made for an entirely different pur-
ose from that of controlling prices or
a monopoly" He asserted
nat this had in no wise weakened the =,
ct, but rather had tended to strength
n it.
The president quoted from his mes
age of Jan. Z. 1910, to congress when
g made his distinction between the
good" and bad" trusts, saying that, {
IT from being at variance with the
ecision Of the court, it is in exact ac- I l
,rd with It.
Mr.. Taft then took up the question
safeguarding investors who have >
lcked combinations found to be at u
lriance with the Sherman act pro- o
sion, and declared that here again e
e wisdom of the court was manifest
that ample time had been given to
,th the Standard Oil and the Ameri- y
n Tobacco companies to reorganize u
thout jeopardizing the interests of
vestors. tt
Il am entirely opposed to an amend Il
ent of the antitrust law" said the
esident. ut is now a valuable gov 81
nment asset and instrument. Tested to
d brought into beneficial use by u
enty years of litigation and con- D'
'uction by the highest court, why IN
ould we imperil its usefulness by pi
periments?'
The outcry for amendments, follow
: the supreme courts decisions, the
ssident said, had resulted in propos- L,
prepared without a real under
.nding of the law, and he added that
lie this agitation might serve the bj
rpose of promoting unreasonable" MI
unreasoning discomfort, it certain
ought not to be considered seri- tw
sly. of