Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1911-12-08
PRESIDENTS MESSAGE
Let the Antitrust Law Alone, Is
His Advice to Congress
Suggests Supplemental Legislation and
Favors an Act Describing Unfair COM
petition,

faVoTS an ACT describing UNFAIR Com-
petition.
President Taft's third annual message
to Congress, presented on Tuesday, deals
exclusively with the Sherman antitrust
act and the trust question in general
The President defends the Sherman act
as interpreted by the Supreme Court of
the United States, indicates plainly his
opposition to the repeal or amendment of
this statute, but suggests that Congress
pass a federal incorporation law and sup
Elemental legislation that would describe
and denounce methods of competition
that are unfair" To supervise corpor-
atoms chartered under federal law, Presi-
dent Taft proposes the creation of an ex-
ecutive bureau, or commission, with
powers akin to those of the interstate
commerce commission.
Speaking of the dissolution of the to-
bacco trust, the President declares that
in his opinion mot in the history of
American law has a decree more effec-
tive for such a purpose been entered by
a court" Mr.. Taft renews his recon-
mendations for the enactment of a gen
eral law providing for the voluntary
formal ton of corporations to engage in
trade and commerce among the states
and with foreign nations. 1t Is more
manifest now that the denunciation of
conspiracies in restraint of trade should
not and does not, mean the denial of
organizations large enough to be in
trusted with our interstate or foreign
trade. 1t has been made more clear that
a purely negative statute like the anti
trust law may we'll be supplemented by
specific provisions for the building up
and regulation of legitimate national
and foreign commerce. THE attempt
and purpose to suppress a competitor by
underselling him at a price so unprofit-
able as to drive him out of business, or
customers under which they are required
to give up associations with other manu-
facturers and numerous kindred methods
for sitting competition and effecting
monopoly, should be described with
sufficient accuracy in criminal statute
on the one hand to enable the govern
ment to shorten its task by prosecuting
single misdemeanors instead of an entire
conspiracy 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 does not attempt to set forth
the details of the federal incorporation
act he recommends, but suggests that
combination of capital allowed to become
federal corporations should be subject to
rigid rules as to organiza ton and pro-
cedure, including effective publicity, and
to the closest supervision" as to stock
and bond issues by the proposed eXecu-
/
| merce and labor department. Federal
| Incorporation, the President declares,
would not exempt any concern or its Off
GERS from prosecution under the Sherman
act for Illegal acts. Such an act, could
| 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 empowered, the
| President says, to invoke the aid of the
| bureau of corporations in determining the
suitable reorganization of corporations
dissolved by DEGREES. This work, he
| points out, might be intrusted to the pro-
| posed supervisory commission which
should be an executive tribunal of the
| dignity and power of the comptroller of
the CURRENCY or the interstate commerce
| commission"
Accompanying the message is an APP
| pendx showing trust prosecutions insti-
| tuted by all administra lions since the
| enactment of the Sherman act in 1890.
| According to this appendix seven suits
were brought under this act in the ad-
ministration of President Harrison; eight
| in Mr.. Cleveand's second'term; three un-
der President Mckinley; A under Mr.
Roosevelt in about ~ years, and 81 so
| far, in the Taft administration. Other
| messages on various subjects, the Presi-
| dent says will be sent to Congress from
| time to time before the usual holiday re-
| cess.