Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-04-26
Says Roosevelt Regulates
His Own Trust Record Now

Ninth. Then my course as to trusts Is
held up to ridicule by Mr.. Roosevelt. In
many a speech approved by Mr.. Roose-
welt I claimed credit for his enforcement
of the antitrust act When he was Pres.
ident I went out upon the platform and
advocated as strongly as I could the me-
cessity for the prosecution OF the trusts
under that act. So did his Attorneys Cen
eral. They began the Standard Oil prose-
cution, and they began the Tobacco pros
ecution, in Mr.. Roosevelt's administration,
and by his direction. My Attorney Gen
eral carried them on. The active counsel
In the Standard OIL case was Mr.. KEEL
logg, who was especially employed by
Mr.. Roosevelt for this purpose, and 1t
was pressed to a complete decree in the
supreme Court Of the United States. Now
nnd Mr.. Roosevelt coming the other
way, denouncing the antitrust law and
denouncing prosecutions under 1t.
He says that the decree Of the court in
the Standard Oil case is ineffective, that
the price OF the stock has gone UP. and in
some way or other I am responsible for
the fact that the price did go up, and
that my administration is to be con-
demned because that decree was confirm
ed In the Supreme Court. The truth Is
that the decree as finally entered and en-
forced was drawn exactly as Mr.. RoOse-
velt's Attorney General, in the bill which
by direction of Mr.. Roosevelt he filed
against the Standard Oil Company, had
asked that 1t be drawn.
disagree with Mr.. Roosevelt as to the
effectiveness of the decree. 1 think that
in q reasonable time the result Of the
decree will show that the antitrust
law Is most useful statute. The NOM
inal increase in the price OF stock OF the
constituent companies Nor> the actual
sales are not many is due to the fact
that the public has been heretofore denied
knowledge Of the real amount Of
money and capital which each of these
companies have, and now 1t Is known.
panies and it will be found that today
there Is more competition, both in the
purchase of crude oil and the sale of re-
fined oil, than for twenty years, and this
even though the price Of oil has gone up.
1t was true that the Standard Oil Com
pany, when 1t suited its purpose, was able
to keep down the price Of oil, and keep
down the demand for crude oil. Now 1t
has lost control, and the market will fol-
low the law OF supply and demand.
was entered by the circuit court, the eff
feet of the division of the tobacco COM
pany into several competing companies
is already seen. One OF the charges
tobacco. by reason OF the suppression OF
all competition in it's purchase, had gone
down, SO that nobody could raise 1t with
q profit in Kentucky. That gave rise to
preston of the planting Of Burley tobac-
CO. Today. due to the presence OF the
various companies into which the trust
has been divided, each seeking a supply.
there is greater competition for the pur-
chase OF tobacco than ever before and
prices bid are higher than In years past.
The hand Of the trust is no longer to be
seen in opposition to the farmers. The
Independent tobacco companies in North
beginning to find that the competition 10
.unrestrained. The decree, do not hesi-
tate to say, will prove more and more
beneficial as Its full effects become de-
veloped.
Mr.. Roosevelt proposes to abolish the
antitrust law and then toregulate combi-
nations and not to destroy them. Mr..
Roosevelt,s description Of what he Is GO
ing to do is description, not Of q con-
structive plan. but OF what he proposes
to accomplish; but it all comes down to
this-that by some sort Of executive til.