Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-01-21
PRESIDENT WILSON'S mes.
SAGE READ TO CONGRESS.


son personally laid before joint ses-
sion of Congress today the fundament-
al principles of the Democratic admin
istration's program for dealing with
trusts and big business" The Pfesi-
dent presented the case, he said, "as
It lies in the thought of the country"
reiterating that private monopoly is
indefensible and intolerable,' and de-
claring that conscientious business
men throughout the nation would not
be satisfied until practices now depre-
Gated by public opinion as restraints
of trade and commerce were cor
rected.
I'VE are now about to write the ad-
ditional articles of our constitution of
peace" said the President, the peace
that is honor and freedom and pros
perity."
Besides suggesting the scope CT legis-
lation the President made a personal
appeal for an atmosphere of friend
illness and cooperation in Congress
while handling the problem.
THE antagonism," 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
and honor of the land. The govern
ment and business men are ready to
meet each other half way in a com
mon effort to square business meth
DDS with both public opinion and the
law"
The chief points which the President
singled out as a basis for legislation
were:
1-EHectuaI prohibition of the
interlocking of dircctorates of
great corp orations-hanks, rail-
roads, Industrial, commercial and
public service bodies.
PA law to confer upon the
interstate commerce commission
the power to superintend and
regulate the financial operations
by which railroads are henceforth
to be supplied with the money
they need for their proper de-
velopment and improved trans
portation facilities. The presi-
dent made it clear that "the
prosperity of the railroads and the
prosperity of the country are in
separately connected" in this re-
gard.
3--Defnition of "the many
hurtful restraints of trade" by ex-
plicit legislation supplementary to
the Sherman law.
4-The creation of a commits
sion to aid the courts and to act
as a clearing house of information
Laf ktsc rhnfnrpn
with the law.
5-Provision of penalties ard
punishments to fall upon in
dividuais responsible for unlawful
business practices.
6-Prohibition of holding COM
panies and a suggestion that the
voting power of individuals hold
ing shares in numerous corpora
tons might be restricted.
7-Giving to private individuals
!. the right to found suits for re-
dress on facts and-.judgments
proven, in government suits, and
providing that statue of iimita-
. items should run only. from the
date of conclusion of the gov
ernn1ont's action. ......-..z.,---
NE T TeSIueflt SpOhb aS IoiiOHSs
Gentlemen of the Congress:
I'm my report Eon the state of the
Union which I had the privilege of
reading to you on the first of Decem-
Der last, / ventured to reserve Tor
discussion at a later date the subject
of additional legislation regarding the
very difficult and intricate matter of
trusts and monopolies. The time now
seems opportune to turn to that great
question; not only because the cur
rency legislation, which absorbed your
attention and the attention of the
country in December, is now disposed
CT, but also because opinion seems to
be clearing about us with singular
rapidity in this other great field OF
action. In the matter of the currency
it cleared suddenly and very happily
after the much-debated act was pass
ed; in respect of the monopolies, which
have multiplied about us and in re-
gard to the various means by which
they have been organized and main
tanned it seems to be coming to
clear and all but universal agreement
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 its atmosphere ike
everything else, and the atmosphere OF
accommodation and mutual under
standing which we now breathe with
so much refreshment is matter or SIN
cere congratulation. 1t ought to make
our task very much less difficult and
embarrassing than it would nave peen
had we been obliged to continue 70
act amidst the atmosphere Oh sus-
picion and antagonism which mas So
long made it impossible to approach
such questions with dispassionate 1air-
ness. Constructive legislation, when
successful. is almost the emooolmen'
of convincing experience and or the
mature public opinion which fnally
springs out Of that experience Lesis-
lation is a business of Interpretation
not of origination, and II is now piaiil
what the opinion is to which we must
give effect in this matter. IL is not
recent or hasty opinion II springs
out of the experience of whole gen.
GRAFTON. 1t has clarified itself by long
contest and those who for a long time
battled with it and sought to change