The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-01-21
Would Also Forbid lnterlock-
ing Directorates, Establish
Interstate Trades Commits.
sion, Eliminate Uncertainty
and lncrease-Power of Inter-.
state Commerce Commission.

| Following Is the address 10 coM~
/ gress read by President Wilson yes
terday:
| gentlemen Of the Congress:
| In my report ION the state OF the
-! Unlon.' winch i had The privilege OF
reading TO You on the LIST OF Dec m- (
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 monopolles. The time now
/ seems opportune To turn to that great
I question; not only because the cur
i rency legislation, which described your
/ attention and the attention of the
country in December, is now disposed
1 OF. but also because opinion seems to
/ be clearing about us with singular
I rapidly IN this other great fisld OF
action. In the matter of the currency
/ 1t cleared suddenly and very happily
after the uch-debated act was pass
I ed; in respect of the III onopoiies which
have multiplied about us and in re-
gard to the various means by which
they have been organized and main
I tanned IL seems to be coming to
clear and all hut universal agreement
/ in anticipation OF our action, as IL by
( way of preparation, making the way
easier to see and easier TO set out
upon with confidence and without
Z CoHiuslUn VI COUNSEL
/ Legislation has It's atmosphere like
| everything else. and the atmosphere
| of accommodation and mutual under
standing which we now breathe with
so much refreshment is matter of sim
! rere congratulations. ought to 4
/ make our task very much less difficult
/ and embarrassing than IL would have
/ been had We been obliged to continue
! to act amidst the atmosphere OF
lit -, t-..
! SO long made ii impossible to approach
/ such questions with dispassionate fair
| T1css: Constructive tfeTTstartUn. When
/ successful, Ia always the embodiment
of convincing experience, and of the
mature public opinion which finally
springs cut of that experience. Legis-
/ lation is a business of Interpretation,
4 not of origination: and IT Is now plain
/ what the opinion is to which we must
! give effect In this matter. 1t is not
| recent or hasty opinion It springs
out of the experience of 8 whole gem
Grafton. 1t has clarified itself by
| long contest, and those who for a long
! time battled with il and sought to
change ii are now frankly and honor
ably yielding to it and seeking to con-
form their actions to 1t.
Change OF Sentiment.
| The great business men who organ-
lied and financed monopoly and those
who administered it in actual every-
j day transactions have year after year.
until now, either denied its existenc0
| or justified it as necessary for the
effective maintenance and develops
/ ment OF the vast business processes
I OF the country in the modern Chm
/ stances of trade and manufacttfx and
| finance. but all the while opinion has
made head against them. The aver
age business man is convinced that
! the ways of liberty arr also the ways
| of peace and the ways OF success AZ
weff: and at last the masters of busi-
ness on the great scale have begun to
yield their preference and purpose.
T perhaps their judgment also, In honor
able surrender
What we are purposing to do, there's
fore. is, happily. not to hamper or tn-s
terfere with business as enlightened
/ business men prefer to do 1t. or in
! any sense to put 1t under the ban.
| The antagonism between business and
/ government is over. We are now
about to give expression to the best
business judgment of America. to
! what we know to be the business con-
science 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 business world condemn the METH
DDS and processes and consequences
| of monopoly as we condemn thems
! and the instructive Judgment OF the
/ vast majority of business men every-
! where goes with them. We shall now
/ be their spokesman. That is the
strength of our position and the sure
I prophecy of what will ensue when our
I reasonable work is done.
When serious contest ends, when
men unite in opinion aid purpose.
! those who are To change their ways
/ of business joining with those who ask
4 for the change, it Is possible to effect
! ii in the way in which prudent and
/ thoughtful and patriotic men would
wish to see II brought about. with a.
| few, as slight, as easy and simple
| business establishments as possible In
! the circumstances. nothing essential
/ disturbed. nothing torn up by this
Feets, no parts rent asunder which can
! be left in wholesome combination.
! Fortunately, no measures of sweeping
or novel change are necessary. 1t will
| be understood that our object il NOT 81
/ to unsettle business or anywhere s0rt-4
1 ously to break its established courses
| athwart On the contrary, we desire
| the laws we are now about to pass to b
/ be the buiwarks and safeguards Of In
/ dustry against the forces that have
/ b. done In a new spirit. In thoughtful.
moderation. without revolution OF any
untoward kind.
! We are all agreed that 'privates
monopoly is indefensible and tntOler~
4 able" and our programme Is found
/ ed upon that CONJUNCTION. 1t will BE- ~
comprehensive, but not a radical OE
unacceptable programme and the
are its.items, the changes which opins#
ion deliberately sanctions and for
which business waits: M
II waits with acuuescence, In the
! first place, for laws which VIII 6xT
/ feetually prohibit and prevent such In
! I rlock'ngs 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 Wh@as
borrow and those who lend practica11yNs
| one and the same, those who s0ll nnN U
| those who buy. but the same per3CEsq&
/ trading with one another under dtRNxA8
ent names and in different comntx
! tions, and those who affect to codiss
! pete in fact partners and masters A
some whole field of business Il
fictent time should be- allowed M61 T.