Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-01-20

BlO0 OF CO08I66B tOOSy lLI0 AoANshAAA0sAs~s
principles Of the democratic admin
1stration's program for dealing with
trusts and 'sbig business" The pres1-
dent presented the case. he said. "as
1t lies In the thought Of the country,
reiterating ''that private monopoly *
indefensible and intoaerable," and de-
Glazing than conscientious business men
throughout the nation would not be
satisfied untn practices now deprecated
by public opinion and restraints Of
trade and commerce were connected
I'VE are now about to write the ad-
dihonal articles Of our constitution Of
peace, -said the president ''the peacS
that - honor and freedom and pros
perity.''
Besides suggesting the scope Of legis-
lation. the president made personal
appeal for an atmosphere Of friendli-
ness and cooperation In congress-
while handling the problem.
.The antagontsun,. he said. between
business and goysenment a over. We
ares now shout ~ 10 4ire expEessipn g,
the best Judgment OF America. to what
we know to be the business conscience
and honor Of the land. The govern
ment and business men are ready TO
meet each other half way In a com
mon effort to square business methods
with both public opinion and the law
Basis Of lssislation.
The chief points which the president
SINGLED out as basis for legislation
were:
/. Enectual prohibition of the in
terlocking Of directorates Of great cor
porations-banks, railroads. Industrial
commercial and public service bodies.
2. A law to confer upon the inter-
state commerce commission the power
to superintend and regulate the fnan-
cial operations by which railroads are
henceforth to be supplied with the
money they need for their proper
development and improved transporta-
tion facilities. The president made 1t
clear that "the prosperity of the rail-
roads and the prosperity OF the country
arc tnseparably connected in this re-
gard. ,-.,,,
restraints Of trade" by explicit leg1s-
lation supplementary to the Sherman
law. a..
THE creation Of a commission to
aid the courts and to act as q clearing
house Of information in helping oos.-
ness TO conform with the law.
b-Provision Of penalties and pun.
,shments to fall upon individuals re-
sponsible for unlawful business prac-
tices.
6-Prohibttion Of holding companies
and q suggestion that the voting power
~ indiyiduals holding shares In numer.
o,,s corporations might be restricted.
7.-Gfving to private individuals the
right to found suits for redress on
facts and judgments proven In govern
ment suits and providing that statute
of Limitations should run only from the
data of conclusion Of the governments
action.
Text of che Message.
The president spoke in part as fol-
lows:
Gentlemen Of the Congress-: In my
report 'on the state Of the union.' which
I had the privilege Of reading to you
ON the ed Of December last, ventured
to reserve for discussion at later
date the subject Of additional legisla-
ton regarding the very difficult ana
intricate matter Of trusts and monopo-
lie. The time now seems opportune
to turn to that great question:: not
only beceuSe the currency legislation.
which aheorbed your attention and the
attention OF the country in December,
- now disposed Of, but also because
opinion seems to be clearing about us
with singular rapidly in this other
great field Of action. In the matter OF
the currency It cleared suddenly and
very happily after the much debated
act Wis passed; in respect Of the
monopolies which have multiplied |
about us ana In regard to the various
means by which they have been or.
ganized and maintained. it seems to
be coming to . clear and all but uni.
versal agreement In anticipation Of our /
action. - if by way Of preparation.
making the way easier to see and
ea4ier TO sst out upon with confidence
And without confusion of counsel.
Tho great business men who organ.
ixed and financed monopoly and those
who admlnle etered It In actual every.
day trAneaotlons have, year after year.
until now either denied its existence
~ justiA11s 1t - necessary for the ef- (
9ectlve M Ilfenanco ana developlnestf
O& ne bnsk stno peocesses oG ths
ooa11sy - - IA clrcsnsseaaooe
25,l III