The Washington times., 1913-11-12
VIII SON MAPS OUT
ANTITRUST WORK
Although Welded to No Hard and Fast Policy President Has
Gone Far Toward Completion Of Legislation Believes
Trust Must Be Clearly Defined. g.

fine for them how far they can operate,
and to what extent they are to be
limited by new legislation.
Essential Step.
1t is plain from these talks with
members of Congress that the Presi-
dent regards antitrust legislation as
an essential step in a comprehensive
program for national economic read
justment. The tariff law, in the Ad-
ministration program, was designed to
free business from the artificial props
of excessive protection. The currency
legislation Is intended as the means by
which business generally may adjust
itself to the new order, with assurance
that capital will not be tied up in the
hands of few, who might otherwise
still enjoy unnatural advantages even
though protection is denied them.
The antitrust legislation. in turn. is
destined to prevent business from crys-
tallizing back into the old forms.
ed on the subject the President has in
sisted that the fact that a corporation
may have a capital stock Of a billion
dollars is no reason why any one should
fear it. The mere size of corporation,
he has Fointed out, is not necessarily
objectionable.
Objects To Favoritism.
II am not objeeting." he has told visi-
tors, Ito the extent of business, and.
least of all, am not objecting to peo-
pie getting rich from conducting busi-
ness with prudence. What am goins
to object to is that the Government
should give them exceptional advan-
taees, which enables them to succeed.
and does not put them on the same
footing as other people"
The above. in short is flll kRynnta AZ
the Presidents antitrust policy-equal-
ity for Everyone under the law. He in-
sists. too, that while the Democra tic
party must assume responsibility for
initiating the legislation, the legis;ation
itself must be SO broad that II can bid
for support from Republicans as we'll
as Democrats. This he has made plan
to the leaders In Congress upon whom
he will depend to lead the fight, among
whom are Senator Newlands and Con-
gresham Clayton.
In many respects the proposed legis-
lation will follow the lines of the seven
sister" laws of New Jersey, the products
of some of the ablesr lawyers In the
country whom Mr.. Wilson, when he be-
came governor of that State, called into
conference to devise means of freeing
his State from the odium of being known
as the mother of trusts" The theory
Of these laws will be broadened for ma
tional service.
To Define Trust.
Defining trust, the proposed legisla-
ton will characterize it as a combina-
tion or agreement between corporations,
firms or persons for the. following OBJ
jects:
To create or carry out restrictions in
trade or to acquire a monopoly in trade
or commerce to limit or reduce the pro-
duction or to increase prices of merchan-
disc or commodities; to prevent competi-
tion through agreement; to fix specific
prices for the sale OF merchandise. and
to fix penalties for those who do not
conform to these prices, to make any
agreement whatsoever for the division of
markets or for restriction OF production
for private advantage
The fight will reyolve about this des-
ignation,- but the President believes
that when once a clear-cut definition is
paced on the statute books, the busi-
ness interests of the country can be
depended upon to conform to its limi-
tations. He believes that much of the
violation of the Sherman Law has been
due to the fact that business men do
not know now what they may and
what they may not do. At all events,
he thinks, clear-cut definition Will re-
move the excuse for Illegal business.
When a trust has once been defined,
supplementary legislation will provide
the necessary penalties for infringement
of the law