The Washington times., 1911-12-05
THE PRESIDENTS ATTITUDE
TOWARD CONSTRUCTIVE
.... BUSINESS.

The Presidents message, delivered to
Congress today, is the first of several
that will convey his opinion and recon-
mendations on various phases of the
political problems before the country.
He discusses the Government regulation
of business and of corporations in his
opening communication, thus giving its
proper rate of premiership to the most
important questions now demanding at
tention. Whether this order is adopted
because of an entire recognition of the
situation, or because the tariff board
was not ready to report, is not very
material. If an accident has brought
the biggest issue to the front it is a
fortunate accident.
The President is to be congratulated
on making statement of his views
that is more reassuring to business
than were his speeches during his
Western tour. While direct revision
of the Sherman act would give the
most effective earnest of purpose to
make the laws help business, yet in
the present political exigencies it is
plain enough that revision is out of
the question and expediency dictates
the next best thing, which is to sup
plement the Sherman act with measures
which will make more clear and definite
its application.
This process of supplementing and
defining ought to go so far as to be
equivalent to revision. The business
man should, as a result of the re-
vision or modification, be given the
privilege of knowing just what he
might or might not do; what would be
legal, what would not. The great fault
of present conditions is that damper
is put on initiative and enterprise. The
man or group that undertakes a project
in the form of corporation or COM
bination-the only forms that are pos
sible in modern business-is presump-
lively guilty of conspiracy in restraint
of trade until the contrary is proven
by the decision of court. That is an
impossible condition, yet it exists, so
long as a modified Sherman act de-
nounces "every contract, combination,
Or conspiracy in restraint of trade" If
no revision, then the supplementing of
the law is imperative, and in conceding
this the President is merely in line
with what is now the well-nigh unani-
nous opinion of the country.
The President proposes Federal in
corporation of concerns engaging in
interstate trade. This is one of the
long and highly desirable steps toward
formulation of better conditions; but
in a very important regard it is not
possible to accept the Presidents view
He would have Federal incorporation
optional, working certain benefits to
those who exercise the option. 1t
would be vastly better to make the
Federal incorporation compulsory; to
give the public the advantage of equally
good information, and equally definite
guarantee, about all corporations in
interstate business.
A commission for the administration
of these generally regulatory provisions
that are made incident to Federal in.
corporation is proposed by the Presi,
dent. 1t is plain enough that there must
be reposed somewhere liberal grant
of such authority if such a law is to
be put in operation, but this point
like other details, needs to be thorough.
ly discussed and considered by Con,
gress.
1t is a delicate subject. The dangers
of administrative control over business
processes have been so recently illus
trated in the decree for the dissolution
of the Tobacco trust that argument OIL
this point would hardly be necessary
The President gives his approval ol
this decree. In this, agreement will
him is quite impossible. The Tobacco
decree has convinced any who may be
fore have been uncertain that nC
Bench of District Judges ought to b,
authorized to sit OH such complicated
and difficult matters of business.
] In general, the Presidents defens'