The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-01-21
Wilson's PROGRAM
REGULATION OF Big BUSINESS
Must Be PLANNED

ALuuARllUN VI Dtu DuJlNLIO
Must BE PLANNED
DISCUSSED BY CABINET
President Wishes to Establish Trade
Commission Whose Object Would
be to Keep Government and Indus
try Informed as to the Laws Re
quirements.
President Wilson Tuesday gave
cabinet members his ideas on the
governments relation to "big bust
ness, the field antitrust legislation
should cover in the present session
Of congress and the spirit in which
he believed the task should be ap-
preached.
A feeling OF friendly conciliation
rather than Of hostile antagonism,
yet a constructive program that will
eliminate uncertainty about the law
and stimulate the growth Of legiti-
mate business are the fundamentals
Of the presidents plan of action to be
embodied in the message he will read
at a joint session Of congress next
week. He presented the document to
the cabinet and worked all Tuesday
afternoon on minor changes as re-
suit Of the meeting.
Cabinet members speak Of the mes
sage as progressive declaration that
would reassure the business world Of
the sincere intentions of the admin
istration to deal fairly with it. While
the president has not revealed his
views on detailed legislation, he
hopes his message will be the guild
ing influence that will keep the
scope Of activity with a well defined
compass, eliminating, so far as pos
sible any congestion Of radical bills
that might be misinterpreted by the
outside world.
So far as known the cardinal fea-
lures Of the presidents plan are:
1. Supplimenting the Sherman an
thrust law to reduce the debatable
area around it.
2. The prohibition Of interlocking
directorates.
8. Location Of individual RESPONSE
bility and the fixing of personal guilt
| for all violations.
4. The creation Of an interstate
trade commission to perform the
functions Of bureau Of information
and to determine by its Investigations
whether DEGREES Of dissolution or
mandates Of courts are carried out.
The president is proceeding on the
theory that legislation is necessary
at this time and that there should be
no delay in accomplishing those re-
forms on which public sentiment Is
agreed. The recent action Of ]. P.
Morgan & Co. in voluntarily with
drawing from numerous directorates
on account of a "changes in public
sentiment is considered by admins
tration supporters as evidence that
the business world expects interlock-
ing directorates to be dissolved.
in this connection President VIII
son believes the whole course Of pub
lie opinion has undergone remark
able change in the last few years.
From a point where doubt as to the
existence Of trusts was at first e1-
pressed, through the period which
reasonable and unreasonable combi-
nations in restraint Of trade we're de-
bated, he believes there has develop
ed now an acceptance Of the principle
that private monopolies are indefens-
ible and that trusts practice certain
things which ought to be prohibited.
The president is also reiterating to
those with whom he is discussing the
subject a view expressed in his pre-
convention speeches two years ago
that, to stop "joy riding. it is nee
essary "to arrest the chauffeur and
not the automobile" He Is expected
to recommend in his message that
the law with respect to personal guilt
should be enforced vigorously and
provision made in all legislation for
individual offenses.
One of the most important fea-
lures Of the antitrust program Is the
interstate trade commission. This
organization differs from the kind Of
commission which was advocated by
the national Progressive party during
the last campaign In that it would
not be vested with powers Of regula-
ton, but would be the medium
through which the 60 snment would
keep the business world Informed
and eliminate "the twilight zone" in
"big business.
There have been repeated requests
for information from business con-
Germs and the need Of an authorita-
tive reservoir Of information already
has been demonstrated In the pres
ent administrators experience with
the trust question. 1t Is intended to
place the commissioner OF corpora
tions at the head of the interstate
trade commission and to include in
it's membership business men who
would know business methods sufl-
ciently to conduct the necessary in
duiries and furnish the desired infor-
nation.
With the presidents discussion Of