Mountain advocate., 1914-01-23
President Outlines Plan for Regu-
Iation Of Trusts.
SQUARE BUSINESS WITH LAW
Explicit Definition Of the Policy and
Meaning OF Existing Laws Is Of First
importanee-Antag onlsm Between
Business and Government.
Is Now Over.

Gentlemen of the congress-
In my report on the State OF the
Union which / had the privilege of
reading to you on the LIST OF Deem
Der last, ventured to reserve for
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
of. but also because opinion appears
TO be clearing about us with singular
rapidity In this other great field of
action. In the matter of the currency
II cleared suddenly and very happily
after the much-debated act was
passed; in respect to the monopolies
which have multiplied about us and in
regard to the various means by which
they have been organized and main
tained, II seems to be coming TO
clear and all but universal agreement
the way Of preparation. making the
way easier to see and easier to set
out upon with confidence and without
confusion of counsel.
Business Of Interpretation
Legislation has its atmosphere like
everything else and the atmosphere OF
accommodation and mutual under
standing which we now breathe with
80 much refreshment is matter OF sin
cere congratulation. 1t ought to make
our task very much less difficult and
embarrassing than it would have been
had We been obliged to continue to
ret amidst the atmosphere of suspi-
rion and antagonism which has so
cong made It impossible to approach
such questions with dispassonate fair
ness. Constructive legislation. when
successful. is always the embodiment
o. convincing experience and of the
mature public opinion which finally
springs out of that experience. Leg.
'slation Is a business of Interpretation
Hot of origination; and it is now plain
what the opinion is 20 which we must
give effect in this matter. II is not re.
cent or nasty opinion. II springs out
of the experience of a whole genera
tion. 1t has clarified itself by long
contest, and those who for a long time
battled with il and sought to change
IT are now frankly and honorably
yielding TO 1t and seeking to conform
their actions to 1t.
The great businessmen who organ
i2ed and financed monopoly and those
who administered II in actual every
day transactions have year after year.
until now. either denied its existence
or justified it as necessary for the eff
tective maintenance ana development
OF the vast business processes of the
country in the modern circumstances
of trade, and manufacture and finance;
but all the while opinion has made
head against them The average
businessman is convinced that the
ways of liberty are also the ways of
peace and the ways OF success as
wen; and at last the masters of bust
ness on the great scale have begun to
yield their preference and purpose,
perhaps their Judgment 's'lso. in honor
able surrender
VIII Not Hamper.
What we are purposing to do, there
FORE is happily not to hamper or in
terfere. with business ae enlightened
business men prefer to DO IT, or in any
sense 70 put II under the nan. The
antagofism between business and gov
ernment is over. We are now about
20 give expression to the best business
Judgment of America, 20 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 common
effort to square business methods with
both public opinion and law The best
informed men OF the business world
condemn the methods and processes
and consequences Of monopoly as we
condemn them; and the instructive
Judgment Of the vast majority of busl-
ness men everywhere goes with them.
We shall now be their spokesman.
That is the strength OF our position
and the sure prophecy of what will en-
sue when our reasonable work is done.
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. II is possible to effect
II In the way In which prudent and
thoughtful and patriotic men would
wish 10 see II brought about with as
few, as slight. as easy and simple busi,
ness resadiustments as possible In the
circumstances. nothing essential dis
turbed. nothing torn up BY the roo.s'
no parts rent asundeT which can De