The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-21
ON TRUSTS
READ BY PRESIDENT.
Program Founded Upon Conviction That Private
Monopoly Is lndefensibe Atmosphere of Mutual
Understanding Is Matter Of Congratulations
The Presldent said:

Gentlemen OF the Congress-:
>, In my report con tile state OF the
Union. which had the privilege of
reading to you on the I'd Of December
last. L ventured TO reserve for discus
sion at a later date the subject of ad-
d!tional legislation regarding the very
and monopolies. The time now seems
o,pportune to turn to that great ques-
ton; not only. because tho currency
REGULATION. which absorbed your at
tentfon and the attention of the coun-
tiy III fccember, is now disposed of.
but also because opinion seems to be
clearing about US with singular rapid
ity IN this other great field of action.
IN The matter or the currency 1t clear
ed suddenly and very happily after the
spect OF the monopolies which have
multiplied about US and in regard to
s the various means by, which they have
been organized and maintained it
sc 1fls to be coming to clear and all
but universal agreement In anticipa-
n9n of our action, as If by way OF
TO SEQ and easier to set out upon with
confidence and without confusion OF
counsel
Legislation has it's atmosphere like
everything else, and the atmosphere
or accommodation and mutual under
standing which we now breathe with
SO much refreshmcnt is matter of sim
our task very much less difficult and
embarrassing than II would have beon
had we been Obliged to continue to act
amidst the atmosphere of suspicion and
aniaGonism which has so long made il
impossible to approach such questions
With dispassionate fairness. Construc-
tive legislation, when successful IS al
ways the embodiment of convincing
experience. and of the mature public
opinion which finally springs out OF
that experience. Legislation is bust
ness OF Interpretation, not OF origina-
ton: and II is now plain what the
opinion is to which we must give effect
10
nasty opinion. IT springs out of the
experience of whole generation. II
has clarified itself by long contest. and
those who for a long time battled witt,
II and sought to change 1t are now
frankly and honorably yielding to II
and seeking to conform their actions
to ii.
Honorable Surrender.
me great business men who organ
lied and financed monopoly and those
who administered 1t in actual every
day transactions have year after year
until now. either denied its existence
or justified II as necessary for the eff
fective maintenance and development
OF the vast business processes OF the
country In the modern circumstances
Of trade and manufacture and finance
but all the while opinion has made
head against them. The average bust
ness man lis convinced that the ways
of liberty are also the ways of peace
and the ways of success as we'll: and
at last the masters of business on the
great scale have begun to yield their
preference and purpose, perhaps their
judgment also. in honorable surrender
What we are purposing to do. there
fore. is. happily. not to hamper or In
terfere with business as enlightened
business men prefer to do 1t, or in any
sense TO put It under the ban. The
antagonism between business and gov
eminent is over. We are now about to
give expression to the best business
Judgment of America, to what we know
to he the business conscience and honor
OF the land. The government and busi-
Y "a n y, -
half way In n common effort to square
business methods with both public
opinion and the law. The best inform
ed men of the business world condemn
the methods and processes and conse-
quences of monopoly as we condemn
them; and the instructive judgment OF