The Birmingham age-herald., 1914-02-01
General Sentiment of Coun-
try Toward Bills One
of Approval
HOLDING COMPANIES
GREATEST PROBLEM
President and Congress Have Open
Minds and Are Willing to Have
Suggestions for Improve
ment of Measures
by c. r. STEW ART

Washington. January .-tspecial1-AtI
last the President and the judiciary com
mittee's trust programme is before the
country, and the country has had time TO
look it over.
The President has announced that these
bills-attaeking holding companies, pro-
viding for a trade commission, doing away
with interlocling directors, and reducing
the "debatable area round the Sherman
lawh-are not hard and fast measures
except 10 fundamentals, but that Con-
sress and himself are ready to listen at
tentiyely to any suggestions made and to
adopt them, il in the Judgment Of the
majority they Will improve them
On the whole the bills please Congress.
1t is also believed that they meet the
views of legitimate business men in the
country in the main. There are many let
ters pouring in, and the majority of them
commend the proposed legislation, while
others think them too drastic, and still
others not drastic enough. The radicals in
the House and Senate are not pleased
with them. Senator Ashurst of Arizona
and Representative Henry OF Texas do not
approve of them, and that is something to
be considered.
WHATS the use of using dynamite
when insect powder win do" Representa-
tive Carter Glass of Virginia is quoted as
saying to Henry. Nevertheless Mr.
Henry and others believe that no quarter
ought to be shown and they are going to
endeavor to make the trust legislation. by
amendment, very harsh indeed upon all
who have presumed to grind down the
people through the medium of monopoly.
Clearly in Nature of Monopoly
The new trust legislation is directed only
at such methods as are clearly in the
nature of monopoly Business men will
have the aid of the national trade COM
mission in steering clear of infringement
Of the law. As it is now a corporation
must interpret the law or hire its law
Ners to do so for it. If they violate the
law, or if they contemplate a move that
may violate the law, they must act en-
tirely on their own judgment and ON the
advice of their counsel. They cannot
get an Interpretation in advance from the
department of justice as to whether some
contemplated purchase of the stock of
another concern would be considered
violation of the sherman law. This con-
fusion in the Interpretation of this act
has embarrassed many big concerns and
has led no doubt to many unintentional
violations. In the case of the purchase
of the Tennessee Coal, Iron and Railroad
company it Will be remembered that the
United States Steel corporation was not
sure whether this act would be con-
strued as a violation of the Sherman law
and the consent of the then President of
the United States and his Attorney Cen
eral was first obtained.
The duties of tire trade commission are
in no way to conflict with the department
Of Justice. but it will be constantly in
touch with trade conditions, and if its in
quiries and investigations reveal unlaw-
full acts connected with combina tions it
will doubtless aid the department of JUS
tce in its work of breaking them up.
Hearings ON the trust bill will begin
next week, and the business men of the
country will be given an opportunity to
be heard. 1t is hoped that the bills will
be ready for Congress by March l.