The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-12-06
INT. PREsea|D[s
J, Trust TREATMENT

(Coutinued from First PAge.t
49, -. e. :, cc-ro-. ,,cr, !. no
.-
sln eSasnss tho anu-trust law.
In hio plea for supplemental iegis-
lation 70 the Sherman act, the Presi-
1er, ..v. th., - vou,a be a srest
oe"s - ~. - "ouAo O0
aid to the government in bringing
future antitrust suits because the
rrnceaA,ns. rcuid charge q misfle.
mcanor instead OF the cumbersome
method Of CHARGING g conspiracy and
r.~,r~ - ,r.~,.i,v ,arva nnmhor cr
d~S~.Sent.
NJ TAT .6voc.t>. thai IN. hursam
- cnr.,nra,,on. - trihunsI a. ~
6t~ctsv and ro,ysr ~ ira earn rtroIIer
- c.,rr.rns srS :. s.rN.i.N = Stsr the
Ym.s-..stn $500 49, 'Cc,nu,..son Ha
rsii. fhs srts.trnst faw .ths ernres-
don - sna-t nSsi,h.rt, ,ovInv nsor,ie
20 nreserve ennalitv ~ onnortunity
.!E,or tventv vssrs.. he aid .th,s
..atuta frhsru,sr law, vas IN The
- t,,te SonEs All knAw il general
,,,,rrsoaa snd annrovad Many ~ ia
yioie torx wsrA rvnical over ~: .ssun,.
ed imnotsncA..
= The Msaaaaa.
Following IA the fuii text Of thu mes.
sare:
no the eenate ana House Of Repre-.
sentatives:
This MESSAGE IN the first 81 several
which I shaIi send to conrrsss durtnr
the interval hetween tho nneninr ~ ~.
rerular session and sts adio,,rnmant
for fha rhri.tmas hn,;davs Tha
amount Of Information to be- comn,un-
icafcd AZ ~ the onarat ZION. ~ IN.
government. the number ~ ,nportsnt
eub5ects calling for comment nv the
Executive. and the transmission. TO
Congress- Of exhaustive reports 81 sne,
cial commissions. make II impossible
to include In one mcssara OF a reason
able length q discussion of the topics
that ought to be brought to the atten-
ton Of the National Legislators nj its
fret regular session.
The Artj.Trua& Iaw-rhe sunr>us
Court Oeojsiena.
In May last the Supreme Court
handed down decisionn In the suit. in
equity brought BY the United states
to enjoin tho further mairftsnance OF
the Standard Oh Trust and OF the
American Tobacco Trust. and TO secure
their dissolution. Tho decistons are
epoch making and serve TO advise the,
business world authoritativsly OF the
SC -e and operation Of the ar,ti-trust
ses 1850. The decisions do net de-
part III any substantial way from the
previous decisions Of tho court in rcn.
STRUNG and applying this fnportan n.
statute. but they clarity those de-
cisions by further defining the
already admitted exceptions to
the literal construction Of the
act. BY the dec--ees. they furnish q
useiul precedent = to the proper
metnod OF dealing Y it'll the capital and
property OF Illegal trusts. These 'da-
cisions suggest the need and wisdom
o. additional or supplemental legisla-
ZION 70 make II easier for the entire
business community % square with
xhe rule q action and legality thus
nnaiiy estabitshed ard to preserve the
psnent. freedom. and spur OF reasona-
ois competition without loss Of real
cMclcncy or Dso9ress.
70 Cnane0 u the Ruiz Of DcclSion--
Msfev ~ IL Form II ExprsHsdun.
me statute IN Its nrrt section de-
cM1es 20 % Illegal every contract.
co"oIna1on IN the form Of trust or
enervise. or conspiracy. in restraint
OF TRACE or commerce among the sey-
0tat states or with foreign nations"
ana IN the second. declares guilty. Of
= misdemsAnor every person who
snail monopoiize or attempt to mo-
noponss any part OF tho trade or
ccmmerce OF the scveral States or
WIN foreign nations.
an two cary eases. where the stat
we Was invoked TO en1oin trans
poHation rate agreement between tn
serstate railroad companies. It was
Meia mat u was no defence TO show
tnat the agreement as to ra1As COM
piained OF was reasonable ut common
law. because II was said that the
slAtute wss directed against all con-
uscU ana combinations in restraint
o. traoe whether reasonable at COM
mon aAw o. not. II was plain from
tne record, however. that the con-
tfANs complained Of in those casea
would not have been deemed rea.
s0nAoie at common law. In subse-
Quent cases the court said that the
statute should DO given reasonable
construction and refused 10 include
within its inhibition. certain contrac-
tuai restraints OF trade which It de-
nominated a. Incidental or - direct
THESE cases OF restraint Of trade
tnRt the, court excepted from the op-
GRAFTON OF the statute were instances
wnich. at common law, would have
Deen called reasonable. In the
StAndard vi ana Tobacco cases.
tnereIorc. the court merely adopted
the tests OF the common law. and In
oehning exceptions to the literal APP
pacauon OF the statute, only suhsti-
tuteo Tor the test OF being incidental
or tndirect. that OF being reasonable.
ana THU without yNFvtur in tho