The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-12-08
Democrats Oppose Any
General Legislation
at This Time.
WANT BUSINESS TO
READJUST 1T Sci F
Views of President Wilson as to
Scope of Program Will Be
Sought During Week by Con-
grcssional Leaders-Many
Measures Prepared for
Introduction.

Washington. December 7.-Presidcnt
Wilson's views OF trust legislation are
to be sought this week by congress
sional leaders. upon whom will fall
the task OF mapping out tho antitrust
program for legislative action. Tho
last week has Developed Il pronounced
view among Democratic members of
the Senate that.thc antitrust acts OF
The present session OF Congress should
be few. ana effect only the more OBJ
Viously needed reforms III tho field
Of combination and corporation actiV-
ity.
While the President has announced
his purpose soon to send special
message to Congress, the scope OF
the communication has not yet been
outlined. Chairman Clayton, of the
House judiciary Committee will meet
the President Tomorrow and Chair
man Ncwlands, OF the Senate Interstate
Commerce Committee. will have Il con
fereDce with him later In the week.
Breaks Over Barriers.
General legislation, which had been
held in restraint throughout the spc-
cial session OF Congress last week.
broke over the barriers and is food
ing every channel Of congressional ac-
iion. The House has before IL during
the coming week Alaskan railroad leg
islation, the Thomas naval holiday
high cost of living Investigation. the
lobby committee report and numerous
other matters Of compelling interest
TO that body.
Advocates OF antitrust legislation in
both Houses expect to concentrate
upon few bills early In the new year.
and To put through measures the need
OF which has been revealed by recent
/ Investigation and government prosecu-
iions. 1t is believed these bills will
cover only q part Of the field OF trust
regulation, aud will not attempt to
carry out all the reforms considered
necessary.
/ The President. in his address to Con-
crcss last week. urged that the Shcr-
man antitrust law he left without al
jeration. and that any new laws be
made supplementary to 1t. Some OF
the leaders in the discussion OF trust
Legislation in Congress arc now urging
that business he allowed to rcadjust
itself To the new banking conditions.
and that the country be given a chance
10 accept and recognize business and
finance under the new currency law
before laws are passed bringing any
general change in the regulation or
control OF corporations.
EARLY Trust bills.
The early trus, bills probably wa
he aimed at the abolishment of inter-
locking directorates and holding COM
panies and possibly OF voting trusts
and fiscal agencies
Legislation strengthening the rights
of minority stockholders also viii he
asked for. and attempts will be made
TO strengthen the sherman law as
to get rid OF the effect Of the Supreme
courts decision that reasonable" re-
sIIaints Of trade are not unlawful
These bills do not reach the reforms
desired By the majority OF those in
. =
tive in the study OF the trust question.
1t has become apparent that there viii
be strong efforts in This or tho nest
session TO create Il trade or industrial
commission. similar TO the Interstate
Commerce Commission and with the
broadcst possible powers of control
over all corporations doing Interstate
business. Chairman Ncwlands faVors
the creation of an Interstate tradc
commission" as OF the most inn
portant steps toward thorough con
, troll o: big business He has Il bill
that would give this commission gen
eral oversight over corporations. with
power 10 make original Investigations
and report conditions TO the Attorney
General for any prosecution. The com
mission also would carry out Supreme
Court dccrccs dissolving convicted
trusts
some OF the other bills now before
the Senate. however. go much further
in the rigid control they would i'm
pose. The Bristow bill would give an
Industrial commission power ITO dctcr-
mine in advance whether corporation
stock was 'watercd," whether IL had
paid too much to the fiscal agents who
financed il, whether its prices were
unreasonable or its methods of sitting
competition Illegal, ana authority 10
keep out OF interstate business any
corporations whose methods il did not
approve.
Drastic Penalties.
other bills. including those hy SEN
tators La Toilette. Williams Cunmins
Clapp and others. would impose rigid
laws defining illegal acts. specific re-
straints of trade pricc-cutting meth
odS TO strife competition or forms OF
over r-captalization. and would impose
drastic penalties for the infracton OF
these laws. Many similar measures