The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-06
MIR. TAFT ON THE TRUSTS.

MR. TAFT ON THE TRUSTS.
The President will present q series OF mes
sages to Congress. The first Of them was read
on yesterday and deals with the subject OF
trus. legislation Those who have followed the
addresses Of the President during his recent
tour we're already familiar with the content
Of this paper.
Mr.. Taft believes that the decisions of the
Supreme Court have thrown a sufficiently clear
incarceration upon the Sherman law to make
Il a satisfactory and efficient working instru-
men. in the hands Of the courts to deal with
the situation. He Is sanguine enough to think
that these celebrated decisions will efectually
dissolve the trusts against which they were
directed and will prevent the future onenses
for which they have been conspicuous. What
the law has been able to accomplish In the
cases of the Standard Oil Company and the
American Tobacco Company he thinks it win
prove able to accomplish also in tho case of
any combination or conspiracy in restraint
cf trade.
In the case of the Tobacco Trust he says.
II venture to say that not In the history
Of American law has decree more effective
for such purpose been entered by a court"
He Is not only sanguine but plausible in his
argument as we'll We trust that the practical
results of experience will demonstrate that he
has possessed prophetic vision and that his
prediction Of the real disntegration OF the
trusts viii prove true. For ourse.ves. We ore
dubious We have yet to be shown where ad-
vantage will accrue to the tobacco industry
by having one company separated into three
or four, owned by the same interests. operated
by the same men in somewhat modified form
and closely related by common interest.
In our view tho President is right in his
assertion that there exists no necessity for
the repeal or amendment OF the antitrust
statute The fact that those who most
vociferous in this demand are most closely
identified with the trusts is convincing and
conclusive at this point But there is need. as
he points out. for such supplemental leEisa.
ton as viii define what methods OF competi-
tion illegal and unfair and as will enable
courts the better to enforce the criminal pro-
visions OF the statute. The fact that convic-
lions under the law have been secured but
no criminal prosecution attempted. Is an In
dication either OF the weakness OF the Law
Ia this direction the servfle attitude OF
the courts in the presence OF powerful Offend
ers Either horn OF the dilemma makes Inn
perative new legislation along this line.
Mr. Taft has true and clear vision of the
need OF federal supervision and regulation
also. There has developed a general feeling
that the national government must be clothed
with authority and power to deal with the great
corporations. The fact that they have reached
such colossal proportions and power. with the
further fact of their interstate relations. ap-
pear TO us to make necessary and inevitable
their federal Incorporation. and supervision
under such laws as shall cont1ne them within
the limits OF the law and at the same time
Il guarantee to them their own rights Of trade
and protect them against unwise and unJus,
local legislation
As whole the paper seems to US in accord
with the best thinking of the day In regard to
trust legislation and impresses us as having
proceeded from mind DESTROYS OF doing and
4 determined to do the wise and honest thing.
While 1t is vulnerable at some points we en-
dorBa Its general recommendations Should
Congress follow them the evils and abuses OF
\ trusts and great monopolies will be very largely
abated ~ .sxsxssssz =
II the President will give us something as
j fair and as effective when he comes to deal
With the question of the tariff, we think no
Will have taken long step towards regainins
the public confidence which he has undoubtedly
lost to large extent.