The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-06
.TAFT'S MESSAGE
STRONG DEFENSE
0E SHERMAN LAW
(Continued From Irirsl pnre'

VI OHlAlFlRW Inv
CONTINUED From First Page.)
bunal. OF the dignity and power OF the
aoihptroiler OF the Currency or the In
terstate Commerce Commission"
ne fact that It dealt with only one
subject; that 1t was compare lively
hrlef; that accompanying It was an
appendix showing trust prosecutions
instituted by all administrations since
me enactment of the Sherman act In
500. made the message unusual Ac-
cordlng to this appendix seven suits
were brought under this act in the
administration of President Harrison:
eight In MIR. Cleveland's second term
hrcc under President Mckinley: for
tN-four under Mr.. Roosevelt In about
seven and one-half years and thirty
seven SO far In the Tart admInIs,ra
iion
Expresses Opinion TerseIy.
The President frequently expresses
'ersely his opinion OF the Sherman IL
and what might be expected IL 1t were
10 be repealed He says:
The antitrust act IL the expression
OF the effort of "A freedom loving peo-
pie TO preserve equality OF opportu-
nifty
This statute as construed bv tho
supreme Court must continue To he
the line OF distinction for legitimate
business 1t must be enforced unless
we are to Danish indiv!duaIism from
All business
Mere size is no sin against ,ba
law.
Much is said of tho repeal OF This
statute and Of constructive Legislation
Intended 10 accomplish the purpose
ana blaze II clear path fer honest ,ner-
chants and business men TO follow. II
may be that such plan will be evo,y.
ed. but l submit that the discussions
which have been brought in recent
nays by the fear of continued exccu-
ton OF the antitrust law have pro-
duced nothing bu El'ttcring gcuernli-
lies.
AZ the onerse against tile Shcr-
man law becomes better understood
md the committing Of IL partakcs
more or studied and deliberate defiance
OF The law, we can be confident that
turtles Will convict individuals, and
that Jail sentences will he imposed
The attempt to and line within
which monopolies and illegal combi-
nations might exercise mod rate power
and he supported by tile courts. Mir
TAFT pointed out. has failed.
Theorists ana others engaged in
business violating the statute" he
said have hoped that some such line
would be drawn by the courts; hut
no court OF authority has ever at.
tempted it,
1T Is no, the purpose OF the statute
TO confiscatc the property and capital
II tho offending trusts
other messages on various subjects,
the President said, would DO sent 10
Congress from time to time before the
usual holiday recess.
The message follows in full:
10 the Senate and House of Represen-
tativcs.
THIS message is tile first OF several
which shall send 10 Congress- during
he interval between the opening OF
Inent for the Christmas holidays The
amount OF information TO he Communi-
Gated as TO the operations of the
government. the number OF Important
SUBJECTS calling for comment by the
Executive, ana the transmission TO
Congress OF exhaustive reports of spc-
cial commissions, make II Impossible
70 include In one message of reason
able length n discussion OF the topics
that ought to be brought to the atten.
tion OF the national Legislature at
lts hfst regular session.
The Antitrust Lnw--ihc Supreme Cour,
Decisions.
In May last the Supreme Court hand.
ID down decisions In the suits In equity
brought by the United States TO enJoin
The further maintenance OF the Stand
'rd OIL Trust and of the American To-
p
solution. The decisions are epoch
maklng,. and serve 10 advise the bust :
ness world 2uthoritntiveiy of the scope
and operation of the antitrust act OF
4 1890 The decisions do not depart in
any substantial way from the pre-
vious decisions of the court in con-
strung and applying this important
sisions by further defining the already
admitted exceptions TO the literal con-
strucion of the act By the DEGREES,
n1N. lZh all
TO the proper method of dealing with
the capital and property of Illegal
trusts. These decisions suggest the
need and wisdom OF additional or sup
Elemental legislation to make t easier
for the entire business community to
square with the rule of action and
LEGALITY thus finally established and
To preserve the beneht, freedom and
spur of reasonable competition with
out loss of real efficiency or progress.
No Change In the Rule of Decision
Merely In Its Form OF Expression.
The statute in it's first section de-
clarcs to be illegal every contract,
combination in the form of trust OF
Otherwise, or conspiracy. in restraint
cral states or with foreign nations"
and in the second declares guilty Of
a misdcmcanor every person who
shall monopolize or attempt to mo
any other person to monopoliZc any
part OF the trade or commerce Of the
several States or with foreign ma
ions"
In two early cases. where the statute
was invoked to enioin a transporta-
ton rate agreement between interstate
railroad companies, 1T was held that II
was no defense to show that the agree
ment as to rates complained Of was
reasonable at common law, because II
was said that the statute was direct
ed against all contracts and combina-
tons in restraint of trade. whether
reasonable at common law or not. 1t
was plain from the record, however,
that the contracts complained of In