The Birmingham age-herald., 1914-01-30
CORDIAL ATTITUDE
BY BUSINESS MEN
TORECENT MESSAGE
Wilson's Words Read Over
and Over Are More and
More Convincing
HOLDING COMPANIES
ARE NOT NECESSARY
Originated in Foreign Countries and
We're Expected in a Few Years
to Die of Their Own
Accord
ny HOLLAND.


New York, January ee.-(Special) }
There can be no question of the sincere
disposition of business men of New York
whether associated with banks or other
corporations. cordially to accept the spirit
which President Wilson displayed in the
most recent of his addresses to Congress.
If any one makes inquiry in business cir
cles with intent to get intelligent opinion
respecting the tentative antitrust bills
which Congress is soon to consider he
will discover that the first thought in
business circles is that President VIII
sons address must not be looked upon
with suspicion. The belief is common
that the message Is noe to be interpreted
by the suspicion which is behind the
old proverb which gives warning lest
too much confidence be placed in the
Greek who bears gifts.
Many of our business men have read
and have reared President Wilson's ad-
dress, and careful rereading serves to
confirm the opinion first held that the
President is sincerely hopeful that a
business, the people and the government
may stand.
In view of this feeling there is less
disposition to critieise the tentative anti
trust bills which have been prepared with
intent to carry out President Wilson, s
recommendation. For as Congress was
willing to give heed to intelligent or
expert opinion respecting the banking
and currency bill and to adopt many of
the features recommended by those whose
opinions were laid before the committee,
SO it is accepted as assured that these
supplementary measures-for in sense
the antitrust legislation will supplement
the new tariff and the new banking and
currency law will not be enacted into
law until highly competent expert opin-
ion respecting them has been secured.
Some Interesting Testimony
As some of the testimony which was
given to the banking and currency com
mittees of both houses by men of ac-
knowledged experience i'll the field of
banking proved to be OF real public in
terest, so it is probable that competent
testimony respecting these antitrust
measures and the wide manner in which
legislations of that kind can be perfected
will also prove to be very interesting
With the accepted I,I,mise that the
President and the administration at
Washington. including Congress. have no
desire TO secure legislation which will
in any way hamper honorable business
activities. it is said here to be possible
to perfect legislation which will aid in
bringing about the readjustment of Amer
lean business conditions and methods in
sympathy with the views of the great
body of the people,
1t was the belief of the late J. Pierpont
Morgan, according to mis- friends. that
much of the friction which has prevailed
for the past 10 or 20 years in the rela-
ton between business and the govern
ment meaning by the government the
people could be traced to the sudden
ness with which invention, especially or
electrical apparatus, changed modern
business methods Mr.. Morgan thought
that 1t was inevitable that instant com
munication of intelligence over long dis
lance and with the peoples across the
Atlantic, even in far away China. should
concentrate some kinds of business activi-
Ties. III business man of New York
could sit at his desk, take up his tele-
phone and communicate as though face TO
face with Boston and PHILADELPHIA or
Washington, st. Louis or Minneapolis
theh certain concentrations of business
interest of banking resources and of
credit were inevitable.
The legislation which President Wilson
has In mind is. 1t is thought here. of a
Kind which will not impair the the ef
nclency or the new influences in busi-
ness life which are represented by cleo
tricity and Inventions but will simplv
serve to adjust these so that the ankle
tles OF the people lest monopoly be es-
tablished and normal competition be eliml
mated may be removed
The Holding Company
One of the features of President Will
sons address was his careful reference
to the holding comnanY Ii is a da,dno