Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-01-20
President Tells Congress
Plan of Trust Legislation
,Oont,nuea from First Page,

the various means by which they
have been organized and maintained
1t seems to be coming to clear and
all but universal agreement In an
ticipation OF our action, as II by way
of preparation, making the way
easier to see and easier to set out
upon with confidence and without
confusion Of counsel.
Legislation should Interpret.
Legislation has its atmosphere
like everything else and thes at
mosphere OF accommodation and rnu-
tual understanding which we now
breathe with SO much refreshment is
matter Of sincere congratulation. II
ought to make our task very much
less difficult and embarrassing than
It would have been had we been
obliged to continue to act within the
atmosphere Of suspicion and an
tagonism which has so long made 1t
impossible to approach such ques-
tions with dispassionate fairness.
Constructive legislation, when sue
cessful, is always the embodiment Of
convincing experience and of the ma
ture public opinion which finally
springs out Of that experience. Legts-
lation is d business of Interpretation.
not of origination, and 1t Is now plain
what the opinion is to which we must
give effect in this matter. 1t Is not
recent or nasty opinion. It springs
out of the experience OF a whole gen.
GRAFTON. It has classified itself by
long contest and those who for q long
time battled with it and sought to
change 1t are now frankly and honor
ably yielding to it and seeking to
CONFORM their actions TO It,
The great business men who or
ganized and financed monopoly and
those who administered 1t in actual
every day transactions have year
after year. until now, either denied
its existence or justified it as neces-
sary for the effective maintenance
and development of the vast business
processes of the country in the mod
ern circumstances Of trade and manu-
facture and finance; but all the while
opinion has made head against them
The average business man is con-
WINGED that the ways of liberty are
also the ways of peace and the ways
Of success as well. and at last the
OF business on the great scale
have begun to WELD their preference
and purpose, perhaps their Judgment
also, in honorable surrender.
No Plan to Hamper Business.
What we are purposing to do,
however. is. happily, not to hamper or
with business as enlightened
business men prefer to do 1t. or IN
any sense to put 1t under the ban.
The antagonlsm between business ana
Is over. We are now
about to give expression to the best
business judgment in America. to
what we know to be the business
and honor Of the land. the
government and business men are
ready to meet each other half way In
a common effort to square business
methods with both public opinion and
the law The best informed men OF
the business world condemn the meth
DDS and processes and consequences
Of monopoly as we condemn them;
and the instructive judgment Of the
vast majority of business men every
where goes with them. We shall now
De their spokesman. That Is tine
strength of our position and the sure
prophecy of what will ensue when
our reasonable work is done.
when serious contest ends, when
men unite in opinion and purpose,
those who are to change their3 ways
If business Joining with those who
ask for the change, 1t is possible to
effect 1t in the way in which prudent
and thoughtful and patriotic men
would wish to see it brought about,
with as few, as slight, as easy and
simple business establishments as
possible in the circumstances; moth
ing essential to be disturbed, nothing
torn up by the roots, no parts rent
asunder which can be left In whole
some combination. Fortunately, no
measures OF sweeping or novel change
are necessary. 1t will be understood
that our object is not to unsettle
business or anywhere seriously TO
break its established courses athwart.
On the contrary, we desire the laws
we are now about to pas to be the
oulwarks and safeguards of indus
try against the forces that have dis
turbed it. What we have to do can
be done in a new spirit, in thoughtful
without revolution of any
lntoward kind.
Changes Which Business Awaits.
1--WE are all agreed that private
is indefensible and intol-
cradle and our program is founded
upon that conviction. 1t will be
comprehensive, but not a radical or
program, and these are
It's items, the changes which opinion
deliberately sanctions and for Which
business waits.
ut waits with acquiesance, in the
first place, for laws which will eff
fectually prohibit and prevent such
of the personnel OF
the directorates OF great corpo-
rations-banks and railroads, indus
trial, commercial and public service
oodies-as in effect result in making
hose who borrow and those who
lend practically one and the same.
those who sell and those who buy,
but the same persons trading with
one another under different names
and in different combinations, and
those who affect TO compete in fact
partners and masters of some whole
field OF business. Sufficient time
should be allowed. of course, In
which to effect these changes OF or