The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1914-01-28
TALK OF TRUSTS
WILSON OUTLINES PLAN to-
HANDLE Big BUSINESS
To MEET IT half WAY

lU MILL ii HALL MAJ
President Reads His Message to the.
House and Senate in Joint Session
suggests Scope of Legislation
and Makes Personal Appeal for At
mosphere of Friendliness.
President Wilson personally laid
before a joint session Of congress
Tuesday the fundamental principles
of the Democratic administrators
program for dealing with trusts and
"big business. The president pre-
sented the case, he said, "as it lies
in the thought of the country" eve
are now about to write the additional
articles of our constitution Of peace"
said he president, "the peace that is
honor and freedom and prosperity"
Besides suggesting the scope of leg
islation, the president made per-
sonal appeal for an atmosphere Of
friendliness and cooperation in con-
gress while handling the problem.
The chief points which the presi-
dent singled out as a basis for leg
islation were:
/. Effectual prohibition of the in
terlocking directorates OF great cor
porations-banks, railroads, indus
trial, commercial and public service
bodies.
.. A law to confer upon the inter-
state commerce commission the pow
er to superintend and regulate the f.
nancial operations by which railroads
henceforth are to oe supplied with
the money they need for their proper
development and improved transpor-
tation facilities.
8. Definition of the many hurtful
restraint of trade by explicit legis-
lation supplementary to the Sherman
law.
4. The creation of commission to
aid the courts and to act as clear
ing house of information in helping
business to conform with the law.
5. Provision of penalties and pun
ishments to fall upon individuals re-
sponsible for unlawful bushes prac-
ticcs.
6. Prohibition of holding companies
and a suggestion that the voting
power Of individuals holding shares
in numerous corporations might be
restricted.
Z. Giving private individuals the
right to found suits for redress on
facts and judgments proved in gov
ernment suits and providing that the
statute of limitations should run
only from the date of conclusion of
the governments actions.
The President spoke as follows:
Gentlemen of the Congress:
I'm my report ON the State Of the
Union,' which I had the privilege Of
reading to you on the second Of De-
cember last, ventured to reserve for
discussion at later date the subject
of additional legislation regarding
the very difficult and intricate matter
of trusts and monopolies. The time
now seems opportune to turn to that
great question; not only because the
currency legislation is now disposed
Of, but also because opinion seems to
be clearing about us with singular
rapidity in this other great field of
action. In respect of the monopo-
lies it seems to hn coming to clear
and all but uniy sal agreement in
anticipation of or 2ction, making
the way easier to se- nd easier to
get out upon with confidence and
without confusion of counsel.
"Legislation has it's atmosphere
like everything else and the present
atmosphere Of accommodation and
mutual understanding is matter OF
sincere congratulation. 1t ought to
make our task very much less difficult
and embarrassing. Constructive leg
lslation, when successful, is always
the embodiment of conyicning eXper-
ience. Legislation is business of
Interpretation, not of origination, and
it is now plain what the opinion is
to which we must give effect in this
matter. It is not recent or hasty
opinion. 1t springs out Of the ex-
perience of a whole generation. 1t
has clarified itself by long contest and
those who for a long time battled
with it and sought to change it are
now frankly and honorably yielding
to it and seeking to conform their
actions to it.
The Scale Yields.
"The great business men who or
ganized and financed monopoly and
those who admired it in actual every
day transactions have year after year
until now either denied its existence
or justified it as necessary for the
effective maintenance and develop
ment of the vast business processes in
the country il the modern circum-
stances of trade and manufactures
finance; but all the while opinion has
made head against them. At last the
masters of business on the great
scale have begun to yield their pre-
ference and purpose, perhaps their
judgment also, in honorable surren-
der.
What we are proposing to do,
therefore, is not to interfere with
business as enlightened business men
prefer to do it, or in any sense to
put it under the ban. The antagon-
ism between business and govern
ment is over. We are now about to
give expression to the best business
Indictment of America, to what we