Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-03
Administration Not to De-
nounce Action of Company
as Pure BunCombe.
QUITTING CORPORATIONS
TO BE ACCEPTED AT PAR
But It Is Understood Steps Toward
Absolute Dissolution Will
Be Taken.
BY w. w. PRICE,

BY w. w. PRICE.
The administration is not going to
denounce the epochal step of j. p
Morgan & Co in retiring from thirty
boards of directors as pure buncombe
and as in itself meaning absolutely
nothing. 1t is going to accept Mr.. Nor
Sans action as sincere, hold it up to
public opinion as being worth par. and
frown upon suggestions that the great
banking house of New York, together
with others contemplating the same
step. is simply working the good old
L. $ A. and the men who are at pres
ent in charge of national affairs
But-and the conjunction in this case
Is terribly big one-the administration
viii courteously and firmly Indicate its
belief that the huge banking houses of
Morgan and others must slowly but surely
take the remaining steps that finally lead
TO real dissolution of the unWholesome
among corporations that President Will
son has pointedly declared to be the
foundation Of the trust troubles of the
country Whether these remaining steps
viii be taken in compliance with what
Mr. Morgan declares to be public senti-
ment or In acceptance of trust legisla-
ton TO be placed upon the law books
this winter and spring is immaterial TO
the man in the White House, who seeks
results, and prefers them to come with
the least disturbance of business or the
personalities that control il.
For IL has not escaped attention that
Mr. Wilson's methods are of the pere-
suasve tactful order Willie come out
INTO the woodshed with father. 1t is neces
sary Tor me TO correct some of your ways.
II gives me great pain to do this, but it
is for your benefit" So far in tariff
and currency laws, Willie has not even
been taken into the woodshed He has
accepted fOrcNfill adxrie h
cut feeling the rod He knew the rod
was there, and that when put into action
IL was especially effective. Father has
several sets of rods. The tariff and cur
rency rods show no wear or abrasions,
but the trust rod is in the background
IL is larger and stronger than the other
TWO. because not only Willie, but Sammie
Jack and Tommy are to be dealt with, if
deemed absolutely essential for the good
OF the national household.
Glad to See Them Yielding.
Courteously firm, politely tenacious. are
fathers notices when he has made up
his mind to the course he will pursue
to the trust children. He is glad to see
that they are slowly yielding to his view
Of things He will abstain from force as
long as possible. The trust kids may
think they are fooling the old man, but
he will accept their doiHgs in good faith
and carefully watch their ensuing steps.
Papa Teddy might have coerced the
trust boys in a different manner. He
might have frightened them with threats
or he might have told all the neighbors
how undesirable and incorrigible they
We're and that he proposed to wash his
hands of them after letting everybody
know their habits and character Father
woodrow, though, will, il was declared
on good authority today, stick by the un-
ruiy trust kids. patiently point out
their shortcomings and errors. confident
that the light will break slowly and that
ne VIII model them after his own fashion.
In some quarters OF the administration
today there was disposition to regard
Mr.. Morgans step as decidedly valueless
bot higher up among the advisers OF
Air. Wilson. those who know his pur-
loses fairly well. there was frank ac-
& piance Of the action of Mr.. Morgan as
al honest acknowledgment of a decided
ehange in public sentiment, and as being
The forerunner of other steps leading to
disassociation of the community of in
seTests represented among the enter
prises that the fnancier controls Men
OF a practical skeptical turn pointed out
that Mr.. Morgan could sever official con-
nection with every combination he has
been connected with, but that when he
touched the button the officials of the
combination would jump just the same.
Not After Interlocking Directorates.
President Wilson has devoted little of
10 the question of interlocking directo-
rates, about which there has been so
much emphasis in Congress and on the
stump. Directors. every body knows,
are often mere dummies who move when
the big string pulls. The big string. in
the White House view, may remain far in
the background. his name not even on
a board or directors, but the dummies
hop and skip around at his pleasure MIR
Wilson hopes, ii is said in well informed
circles. to obtain laws supplemental TO
the Sherman law that will reach the big
string.
through the country and sometimes one
Big String connects up and controls doZ-
ems of big combinations that form the
dangerous community of interests that
President Wilson has carefully but mean
fngly referred to in speeches.
There is apparently not a single man i'm
Washington today who knows the definite
trust program of Mr.. Wilson. but many
OF them know some of his views. All
those in close touch with him know what
he has said on the community of interest
proposition
He has asserted that he does not
deem the existence OF individual com
binations and corporations the most
serious element in the trust situation,
but the real danger is the combination
OF the combinations, the same groups
OF men controlling chains of banks,
systems of railways, whole manufac-
turing enterprises, great mining prof.
ects. great enterprises for the develop
ment Of the natural water power of the
country. and that, threaded together in
the personnel of a series of boards OF
directors. is community of interest
more formidable than any conceivable
combination in the United States"
The trust laws OF the coming Congress
will be designed to reach the Big Strings,
those silent, secret attachments that give
the word upon which the combinations
within combinations do their work. There
can be no competition in the business
world with the Big Strings escaping pun
ishment or condemnation. The dummies
must be held responsible. too but future
trust Legislation will be directly and in
directly aimed at the man higher up
That the great bankers know that they
VIII eventually be reached is a healthy
and wise realization, 1t was asserted to-
day.
Is a Delicate Operation.
That President Wilson knows the DELI
cacy OF the operation of seyering the big
strings is shown In his attitude. He