The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-01-21
JOINT SESSION
HEARD MESSAGE
Declared That Conscientious
Business Men Throughout
Nation Would Not be Sat
iSfied Until the Practices
Now Deprecated by Public
Opinion Were Corrected.
BY ASSOCIATED PRESS.


/ Washington, Jan. 20-President Will
son personally laid before joint ses-
| sion of congress today the fundamental
| principles of the democratic admins
| tration's program for dealing with
trusts and "btg business" The presi-
dent presented the case, he said, las
it lies in the thought of the country, .
reiterating that private monopoly IS
indefensibIe and intolerable," and de-
claring that conscientious business
men throughout the nation would not
be satisfied until practices now de-
precated by public opinion as re-
straints of trade and commerce were
corrected.
I'VE are now about to write the ad-
ditionaI articles OF our constitution of
peace" said the president, the peace
that is honor and freedom and pros
perity."
Besides suggesting the scope of
legislation the president made a per-
sonal appeal for an atmosphere of
friendliness and cooperation in con-
gress while handling the problem.
The antag gonism," he said between
business and government is over, we
are now about to give expression to
the best judgment of America, TO what
we know to be the business conscience
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"
The chief points which the president
singled out as a basis for legislation
were:
1-Effectual prohibition OF the in
terlocking of directorates of great cor
porations-banks, railroads, industrial,
commercial and public service bodies.
"A law to confer upon the inter
state commerce commission the power
to superintend and regulate the fl
nancial operations by which railroads
hence forth are 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 coun-
try are inseparably connected in this
regard.
3-Definition of the many hurtfu1
restraints OF trade" by explicit legisia-
tion supplementary to the Sherman
law.
4-The creation OF a commission 10
aid the courts and to act as a clear
ing house of information in helping
business TO conform with the law.
5-Provfsion Of penalties and pun
ishments to fall upon individuals re-
sponsible for unlawful business prac-
tees.
6-Prohibition of holding companies
and a suggestion that the voting pow
err Of individual holding shares in
numerous corporations might be re-
stricted.
Giving 10 private individuals the
70 aY1l
facts and judgments proven in gov
ernment suits and providing that
statute OF limitations should run only
from the date of conclusion Of the
governments action
CROWD HEARD MESSAGE.
President Wilson left the White
House at 1910 O'Clock TO deliver his
message on trust legislation TO q joint
session Of congress. Both the house
and senate met at noon and recessed !
while the senators two by two filed
over to the hall of the house for the
presidents address about 1890 o'clock |
House galleries were packed. Airs. |
Wilson and others of the presidents |
family occupied places while the dip
lomatic corps was well represented |
rious government officials. A joint |
committee met the president in Speak
er Clark's office to conduct him to the |
rostrom.