Lower coast gazette., 1914-01-31
CONGRESS HEARS
WILSON'S MESSAGE
WOULD BAR CONCERNS BEING
INTERESTED IN BUSINESS
OF COMPETITORS.
DETAILSLEFT TO LAWMAKERS
Executive Personally Outlines His
Enust Policy at Joint Session
Tuesday-Favors Public Hear
ings for Proposed Bills.

Wsshington.-President Wilson in
his message on the trust question, ad'
dressed personally to a joint session
of congress, in part said:
Gentlemen of the Congress: In my
report. ON the State Of the Union,'
which I had the privilege of reading
to You on the I'd Of December last,
/ ventured to reserve for discussion
at a later date the subject of addi-
tional legislation regarding the very
graphical and intricate matter OF
trusts end monopolies. The time now
seems opportune to turn to that great
question:; not only because the cur
rency legislation which absorbed your
attention and due attention OF the
country in December is now disposed
of, but also because opinion seems to
be clearing about us with singular ra-
pidity in this other great field OF ac-
sion. In the matter of the currency
It cleared. suddenly and very happily
after the much-debated act was
passed; in respect to the monopolies
which have multiplied about Is, and
in regard to the various mean by
which they have been organized and
maintained, 1t seems to be coming to
a clear and all but universal agree
| ment in anticipation Of our action, as
if by way Of preparation, making the
way easier to see and easier to SET
out upon with confidence and without
confusion of counsel.
Legislation has it's atmosphere like
everything else, and the atmosphere
Of accommodation and mutual under
standing which we now breathe will
40 much refseshment Is a matter o
sincere congratulations. 1t ought tt
make our task very much less diff
cult and embarrassing than it woul'
have been had we been obliged to cor
tinue to act amidst the atmosphere Q
suspicion and a%ntagonism which ha
so long made it impossible to al
proach such question with dispassio1
ate fairness. Constructive Legislation
when successful, is always the en-
bodiment of convincing experienc
and of the mature public opinio
which finally springs out Of that e,
perience. Legislation is a bushes
of Interpretation, not of origination
and it is now plain what the opinio
$ to which we must give effect
this matter. It is not recent or hast
opinion. 1t springs out of the exper
ence of a whole generation. 1t he
clarified itself by long contest, an
those who for a long time combatte
with 1t and sought to change it a
now frankly and honorably yieldir
to it and seeking to conform the
actions to It."
3 The president leaves to congre
the task of framing the detailed rem
, dies. Besides the provision for
Interstate trade commission, the pl
hibition Of interlocking directorat
and reduction of the "debatable are
Of the Sherman law, three hither
| nnannounced features Of the pre-
dents plan are:
!, l. The prohibition of holding co
6 panies. Corporations would be forb
den to own or hold shares or be
terested In the business of actual co
petitors or cognate concerns; and
q acquisition Of stock or interests
noncompetitiye concerns would
3 possible only with the consent OF t
interstate commerce commission
the proposed interstate trade comm
sion.
2. Empowering the interstate CT
MERGE commission to regulate
. supervise the issuance OF securit
by the railroads so that the pull
would exercise, through the conn
sion, a certain control over the futr
uses to which the money Obtain
. from the issue Of stocks or boz
would be put.
8. Wherever at the instance of
government, either in civil or or
inal proceedings, the courts have /
81 dered Judgment on the unlawfuln
of any combination, individuals
- concerns aggrieved, though the C
bination would have the benefit
w such adjudication, and not be
~ CURED in their suits to prove as
y. the Illegally CT the combination.
ad