El Paso herald. (El Paso, Tex.) 1901-1931, 1914-01-20

VelODmenU ana improved LfanSpOrLa-
ton facilities. The president made it
clear that "the prosperity of the rail-
roads and the prosperity of the coun-
try are inseparably connected" in this
regard.
restraints of trade by explicit legIs-
lation supplementary to the Sherman
1.-The creation Of a commission TO
aid the courts and to act as a clear
ing house Of information in helping
business to conform with the law.
5-ProvisiOn Of penalties and pun
ishments to fall on individuals re-
sponsible for unlawful business prac-
tees.
6-Rrohibition of holding companies
and a suggestion that the voting
power of individuals holding shares in
numerous corporations might be re-
Giving to private individuals the
right to found suits for redress on
facts and judgments proved in gov
eminent suits and Proyldlng that
statute of limitations should run only
from the date of conclusion Of the
governments action.
Problem Is Intricate.
The president spoke as follows:
Gentlemen OF congress:
TN my report 'On the state of the
union which 1 had the privilege of
y
tured to reserve for discussion at
later date the subject Of additional
legislation regarding the very diff
cult and intricate matter Of trusts
and monopOlies. The time now seems
opportune to turn to that great ques-
ton; not only because the currency
legislation, which absorbed your at
tentiOn and the attention of the coun-
try in December, is now disposed OF,
but because opinion seems to be clear
q With GinuTT1HT r1n111fU IN
this other great field Of action. In
the matter of currency it cleared sud
denly and very happily after the much
debated act was passed; in respect OF
the mOnopolies which have multiplied
about US and in regard to the various
means by which they have been organ
lied and maintained it seems to be
coming to a clear and all but universal
agreement in anticipation OF our &C
ton. as if by way Of preparation, max
ing the wav easier to see and easier
to set out with confidence and with
out confusion of counsel.
Sentiment Against MOnOpOIies.
THE great business men VINO or
ganized and financed monopoly and
those who administered it in actual
every day transactions have year after
year, until now, either denied its eX-
istenCe or justified it as necessary
for very maintenance and develop
ment of the vast business processes
of the country in which modern cir
cumstanceS Of trade and manufacture
and finance; but all the while opln-
ion has made Roadway 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
masters of business on the great scale
have begun to yield their preference
and purpose, perhaps their judgment
also, in honorable surrender.
What we are proposing to DO,
1rF fn y 10 r1n7o
or interfere with business as enlight-
eDed business men prefer to do It, or
in any sense to put it under the ban
The antagonism between business and
government is over
Not to UnsettIc business.
when serious contest ends, when
men unite in opinion and purpose
those who are to change their ways
of business joining with those who
ask for the change, It is possible to
effect it in the way in which pru-
dent and thoughtful and patriotic
I men would wish to see it brought
| about, with as few, as slight, as easy
and simple business readjuStmentS as
possible in the circumstances, moth
ing essential disturbed, nothing torn
up by the roots, no parts rent aSUn-
der, which can be left in wholesome
combination. Fortunately, no meas
| ures of sweeping or novel change are
necessary. It will be understood that
our object is not to unsettle business
o. anywhere seriously to break its
| established courses athwart. On the
/ contrary, we desire the laws we are
now about to pass to be the bulWarks
/ and safeguards of industry against
the forces that have disturbed it.
| What we have to do can be done in a
new spirit, in thoughtful moderation,
without revolution Of any untoward
I'VE all agreed that private monop-
| oily is indefensible and 1ntOlerable'
| and our program is founded on that
[ conviction. It will be a comparative
1 but not a radical or unacceptable pro-
gram and these are its items, the
/ changes which opinion deliberately
/ sanctions and for which business
1T awaits with acquiesence in
! the first place for laws which will
/ sffectually prohibit and prevent such
/ interfockings of the personnel of the
| directorates of great corporations
/ banks and railroads, industrial, COM
| mercial and public service bOdies-as
/ in effect result in making those who
! borrow and those who lend practic-
/ aIlv one and the same. those who sell
/ and those who buy but the same per-
/ sons trading with one another under
| different names and in different COM
| binatiOns, and those who affect to
( cOnDete in fact partners and mas
| tiers of some whole field Of business
/ Sufficient time should be allowed, OF
/ course, in which to effect these
/ changes Of organization without in
/ convenience or confusion
J Such a prohibition viii work much
more than a mere negative good BY
/ correcting the serious evils which
J have arisen. It will bring new men
| new energies, a new spirit of inita-
| tive. new blood into the management
! of our great business enterprises II
/ viii open the field of industrial de-
! veIopment and Origination to scores
/ Of men who have been obliged to
| serve when their abilities entitled
! Them to direct. It will immensely
| hearten the young man coming OF
I and will greatly enrich the business
! activities of the whole country.
Meaning Of Anti Trust Law.
'The business of the country awaits
( also has long awaited and has suf-
/ ferad because it could not obtain, fur
! Their and more explicit legislative def
| milton of the policy and meaning OF
| the existing antitrust law. Nothing
| hammers business like uncertainty
| Nothing daunts nor discourages ii
! like the necessity to take chances, Il
! run the risk of falling under the con.
domination of the law before it car
| make sure Just what the law is. Surely
I we are sufficiently familiar with the
| actual processes and methods of mo-
{ nopOly and of the many hurtful re.
| straints Of trade to make definition
| possible at any rate up to the limits
of what experience has disclosed
| These practices being now abundantIy dis
I closed can be explicitly and item by iter
( forbidden by statute in such terms as vii