Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-01-23
President Wilson's Trust Policy.


All the arguments of big Business"
in favor of a period of inaction by
Congress on the trust question have
been based on the presumption and
claim that the country wants rest
until it shall have had time to adjust
itself to the changes made necessary
by the new tariff and the new bank
ing and currency laws, says the Ia
coma Tribune. President Wilson, in
his message to Congress yesterday
disposed of that argument with the
reply that the country is prepared TO:
additional legislation on the trust
question and ready to accept with re-
lief and approve a law that will give
a more explicit definition of the policy
and meaning of the existing antitrust
law Business has too long been
hampered by this uncertainty and has
hesitated to take the risk of falling
under the condemnation of the Sher-
man law without being made sure
Just what the law is.
The great fault of the antitrust law
has been it's indefiniteness. Several
Supreme Court decisions have been
necessary to tell corporations finally
whether they were or were not violat-
ing the law The "rule of reason" has
further complicated things. 1t ought
to be possible for big business
or any other kind, for that matter
to know just what illegal restraint Of
trade is without the long delay of
litigation and consequent disturbance
of it's affairs. Then, if it deliberately
violates the law, it will have no SYM
pathy and deserve none.
That is President Wilson's remedy
and for the application of it recon-
nends the appointment of trade
and industial commission, organized
similarly to the Interstate Commerce
commission, to aid the courts and act
as a clearing house of information in
helping business to conform with the
law. He would have law giving a
definition of the "many hurtful re-
straints of trade" SO that business
could have plain guide posts marking
the way of right conduct. He would
then have the industrial commission
empowered to assist corporations in
dissolving their various companies
and combinations, without loss to the
owners or hurt to the public, in order
that business may be again brought
into the field where free competition
can operate. This plan, the Presi-
dent urged would not hamper or in
terfere with the legitimate business.
but woull help it and would bring about
readjustment Of affairs of offending
corporations without tearing up any
thing by the roots or disturbing parts
of combinations which are whole
some. In this way business can be
squared with both public opinion and
the law.
The President reiterates his former
declaration that guilt is personal and
insists that the punishment should
be inflicted upon the individual re-
sponsible and not upon the business
organization of which the individual
has made illegal use. He recommends,
also, that Independent organizations
and individuals put out of business by
the illegal actions of trusts and un-
lawful combinations shall have the
right to found their suits for redress
on the facts and judgments proved
and entered in suits by the Govern
ment, where the Government has, on
it's own initiative, sued the combina-
tions complained of and won it's suit.
The recommendation for a law pro.
hibiting interlocking directorates will
meet with general approval, now that
the country understands the extent
to which this system Of combination
mas optIdttu W cause IIOllty BdllCS,
cripple Independent industrial enter
prises and give to the hands of few
manipulators almost despotic control
of banks, railroads, industrial plants
and even of raw materials and food
supplies. There is at present no law
specifically aimed at the interlocking
directorates that have been the veins
and arteries of the whole trust sys-
TEN. The recent actions of some of
the big trusts and business combina-
tions in surrendering their director
ships in various corporations show
that they appreciate the trend of pub
lie sentiment, soon to be crystallzed
into law.
President Wilson makes it plain
that he does not want business to be
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