Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1914-01-23
ANTITRUST REFORM
PRESIDENT WILSON, IN MESSAGE
TO CONGRESS, TUESDAY. OUT
* LINES HIS IDEAS.
MANY new POINTS ARE MADE PLAIN
Both Legislative Committees of Con-
gress and Members of His Cabinet
y Express Approval Of the Plan
Not to Rush Change.

Washington.-President Wilson read
{ his message on antitrust reform to
Joint session of both houses of con-
gress Tuesday.
~ The president had shown the docu-
ment to democratic leaders in con-
gress, members of the two congress
slonal committees in charge of legis-
lation and to members of the cabinet.
All expressed approval.
e.. The president dealt with those gen
eral principles in which he believes
public sentiment is agreed is neces-
sary. He emphasized that spirit of
friendliness, rather than hostility
should characterize the method of ap-
preaching the work of reform. To this
end the president himself has an
nounced the program of public hear
ings on proposed bills.
The president has left the task of
framing the detailed remedies to con-
gress.
New Features Announced.
The three hitherto unannounced fea-
lures of the presidents plan are:
1. The prohibition of holding com
panies. Corporations would be for
hidden to own or hold shares or be
interested in the business of actual
competitors or cognate concerns; and
the acquisition of stock or interests in
non-competitive concerns would be pos
sible only with the consent of the
interstate commerce commission or
the proposed interstate trade commits
sion.
2. Empowering the interstate COM
merce commission to regulate and SUI
pervise the issuance of securities by
the railroads so that the public would
exercise, through the commission, a
certain control over the future uses to
which the money obtained from the
issue of stocks or bonds would be put
Convictions in Evidence.
3. Wherever at the instance of the
government, either in civil or Grim
fnal proceedings, the courts have rem
dered judgment on the unlawfulness OF
any combination, individuals or con
ton would have the benefit of such
adjudication and not be required in
their suit to prove again the Illegally
of the combination.
The president has made it plain to
Chairman Clayton of the house Judi
ciary committee that business should
be encouraged to express its views
The president is anxious, too, that in
legislation ample time should be given
in all cases for business to adjudicate
itself to new conditions, even from q
period of from one to two years.
Other Provisions.
Prohibition of interlocking director
ates in banks, trust companies and al
lied Industrial corporations.
Elimination of uncertainty as tC
what constitutes a restraint of trade
under the Sherman law, through spe
cific definition of monopolies anC
trusts, so that there can be no reason
able restraint of trade.
The removal of all possibility Of I'm
munity baths" for offending corpora
lions or individuals.
Establishment of an interstate trade
commission, to serve as bureau OF in
formation to which the business worl'
could direct inquiries. but which would
have no power of granting immunity o.
of regulation.
Provision in every case for penalties
based on individual responsibility ant
personal guilt.