The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-12-05
rHE PREsrDENTs MEssAGE.

for a repeal of the famous Sherman
law. and the substitution in its place
of a government control of all inter-
state corporations that will go as far
or farther than does the governmen
control of the railroads. He admits
that supplemental legislation to the
Sherman law would be desirable, such
as the enactment of a law which shall
describe and denounee methods of
competition which are unfair and are
badges of the unlawful purpose de-
nounced in the antitrust law. He
also renews his recommendation for
legislation that will permit interstate
corporations to take out a federal
charter The taking out of such
charters should be subject to rigid
rules as to the organization and pro-
cedure Of the corporations, including
] effective publicity, and the closest SUI
pervision as to the issue of stocks and
bonds, by an executive bureau or COM
mission in the Department of Com
merce and Labor.
/ President Taft fayors supplemental
legislation of this sort, but a repeal OF
the Sherman law would be q tremend-
Gus step backward he thinks. and be-
cause this law has finally proven itself
to be the very agency that the gov
I
of capital, not because of their size, but
because of their monopoIistic practices.
An ample analysis of the decisions of
the supreme court in the Standard Oil
and Tobacco trusts cases and the effect
of the dissolutions that have been made
| accordingly is made by President TAFT
He proves to his own satisfaction at
| least-and after his clear exposition OF
/ these intricate cases there will surely
be many doubters to join him in his
\ opinion-that these decisions are and
will be effective in breaking up these
| monopolies. and restoring a reasonable
competition. In his recent editorial
| against the antitrust law as it is now
being administered, Colonel Roosevelt
T, paid his particular respects to the To-
bacco trust case and the decree OF its
dissolution as put out by the circuit
court. such a result is lamentable
from the standpoint of Justice wrote
Colonel Roosevelt. 1.-The decision of the
circuit court. if allowed to stand, means
that the Tobacco trust has merely been
obliged to change its clothes, that none
of the real offenders mas received any
| real punishment.
Those critics." replies President
Taft. who speak of this disintegration
in the trust as a mere change of gar
| ,nents have not given consideration to
the inevitable working of the decree
| and understand little the personal dam
ger of attempting to evade or set at
naught the solemn injunction of court
whose object is made plain by the 6e-
| cree and whose inhibitions are set forth
with a detail and comprehensiveness
| unexampled in the history of equity
Jurisprudence
\ President Taft also points out that
the people who think the present ad-
ministration of the antitrust law in
effective, ard who are insisting on ''eon-
lstructive legislation intended to accom-
plish the purpose and blaze a clear path
for honest merchants and business men
to follow, have as yet produced moth
ing but glittering generalities and have
offered no line OF distinction or rule OF
action as definite and as clear as that
which the supreme court lays down in
enforcing the statute.
This statute" insists the president,
las construed by the supreme court
must continue to be the line of distinc-
ton for legitimate business. 1t must
be enforced, unless we are to Danish
individualism from all business and re-
duce it to one common system of regu-
lation or control of prices like that
which now prevails with respect to
public utilities, and which when APP
piled to all business would be a long
step toward state socialism.
The antitrust act is the expression
of the effort of a freedom loving people
to preserve equality of opportunity the
. president argues forcefully. 1T is the
result of the confident determination
of such a people to maintain their fu-
/
ed and unrestricted the enterprise OF
the Individual. his industry, his inge-
nuity. his intelligence, and his indie
; pendent courage" And again says
President Taft of the Sherman law:
} Now it's efficacy S seen; now its
power is heavy; noNStts object is neal
} of achievement. Now we hear cal
for its repeal on the plea that it in
terferes with business prosperity, ano
we are advised in most general terms
how by some other statute and in some
other way the evil we are just stamp
ing cut can be cured, if we only aban-
don this work of twenty years and
try another experiment for another
term of years"
president Taft's strength with the
people will be immeasureably increased
2 nv his able defense of the Sherman
I law That law is as dear to most Of
? them as is the constitution or the De
$ claration of Independence. 1t is E
declaration Of their independence from
the ruthless heel of monopolies. The
people know that now that large
success mas been achieved in the en-
1 forcement Of this law. big business O
e the unreasonable sort, and its friend!
are the ones that are foremost for thu
laws repeal.
: POINTED PARAGRAPHS.