The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1914-01-29
PRESIDENT MAKES
KNOWN TRUST PLANS
Would Break Up Interlockng
Directorates and Holding
Companies.

Washington, Jan. 20.--Presiden
Wilson personally aid before a join
session of congress today the funda-
mental principles Of the democratic
administrations program for dealing
with trusts and big business" The
president presented the case, he said
as 1t lies in the thought Of the coun
try" reiterating that private monopoly
Is fndefensible and i~ntolerable," and de
clar1ng that conscientious business
men throughout the nation would mo-
be satisfied until practices now depre-
Gated by public opinion as restraints
OF trade and were corrected
We 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 Of leg
lslation, the president made a personal
appeal for an atmosphere Of friendli-
ness and cooperation in congress
while handling the problem.
Meet Half Way.
"The antasonism," he said, "be-
tween business and government is
expression to the best judgment Of
America, to what we know TO be
the business conscience and honor
of the land. The government and
business men are ready to meet
each other half way in a ommon
with both public opinion and the
law"
The chief points which the president
singled u as a basis for legislation
were:
81. EHectuaI prohibition of tho
interlocking of directorates of
great corporations-kanks, rail,
public service bodies.
"2. A law to confer upon the
Interstate Commerce commission
the power to superintend and reg
ulate the financial operations by
which, railroads are henceforth to
be supplied with the money they
need for their proper development
and improved transportation facil-
ties"
The president made it clear that
the prosperity Of the railroads and the
prosperity of the country inseparably
connected" in this regard.
SO. Definition of "the many
hurtfui restraints Of trade by
to the Sherman law.
"a. The creation of a commits
sion to aid the courts and to act
as a clearing house of information
IN helping business to conform
WITH the law.
"5. Provision Of penalties and
punishn1ents to fall on individuals
responsible for unlawful business
practices.
IS. Prohibition of holding com
panies and a suggestion that the
voting power of individuals hold
ing shares in numerous corpora
lions mi~ht be restricted.
u. Giving to private individ-
uals the right to fund suits for re-
dress on facts and judgments
proven in government suits and
providing that statute of limita-
tons should run only from the date
Of conclusion Of the government's
Mr.. Wilson's Address.
The president spoke as follows:
Gentlemen of the congress-:
in my report or the state of the
union which I had the privilege OF
reading to you on the list of December
last, l ventured to reserve for dis
cussion 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 grea!
question:; not only because the cur
rency legislation, which absorbed your
attention and the attention of tbs
country in December, is now disposed
of, but also because opinion seems tc
be clearing about us with singular ra-
pidity in this other great field of ac-
ton. In the matter of currency /,
cleared suddenly II very happily after
the much-debated act was passed; in
respect Of the monopoles which nave
multiplied about US and in regard tic
the various means by which they have
been organized and maintained. 1,
seems to be coming to a clear and all
but universal agreement in anticipa-
49, ~ 49, ~ 90
preparation, making the way easier tC
see and easier to set out on with con-
fdence and without confusion OF
counsel.
Hostility Disappearing.
Legislation has its atmosphere like
everything else ana the atmosphere OF
accommodation and mutual under
standing. which we now breathe with
SO much refreshment is a matter OF
sincere congratulation. 1t ought tc
make our task very much less difficult
and embarrassing than it would have
been had we been obliged to continue
to act amidst the atmosphere of sus-
picion and antagonism which has sc
long made it impossible to approach
such questions with dis~passionate fair
ness. Constructive legislation, wher
successful, is always the embodiment
Of convincing experience and of tbs
mature public opinion which finally
Springs cnt u llldl eApCIleIlC6. L6SIS-
Htion is a business of Interpretation
rot of origination, and it is now plair
what the opinion is to which we must
give effect In this matter. It is not
recent or hasty opinion. 1t springs
out of the experience of a whole gen,
%sration. 1t has clarified itself by long
contest, and those who for a long time
battled with it and sought to change il
are now frankly and h%onorably yield
ing to it and seeking to conform thei,
actions to it.
The great business men who or,
ganized and inanced monopoly ant
hose who administered it in actua
every day transactions have year after
year, until now, either denied its ex-
silence or justified it as necessary fol
he effective maintenance and develop
nent of the vast business processes o.
me country in which modern circum-
stances of trade II manufacture ant
5nance are involved; but all the while
,oinion has made head against them
The average business man is con-
5inced that the ways of liberty are
llso the way Of peace and the ways o.
success as well, and at last the mas
;ers Of business on the great scale
nave begun to yield their preference
md purpose, perhaps judgment also, II