The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1914-01-20

Washington, Jan. 20.-President Will
son personally laid before a joint ses-
sion of Congress today the fundamen-
tai principles of the Democratic ad-
ministratton's program for dealing with
trusts and big business" The presi-
dent presented the case, he said. "as il
lies in the thought Of the country"
reiterating that private monopoly is
indefensible and intolerable," and de-
claring that conscientious business
men throughout the nation would not
be satisfied until practices now depre-
Gated by public opinion as restraints Of
trade and commerce were connected
I'VE 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
islation, the president made a personal
appeal for an atmosphere Of friendli-
ness and cooperation in Congress,
while handling the problem.
The antagonism," he said, "betwcen
business and government is over. We
are now about To give expression To the
best judgment of America. TO 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 i'm a COM
mon effort to square business methods
with both public opinion and the law"
Basis For Legislation.
Tho chief points which the president
singled out as basis for legislation
were:
1. Encctual prohibition of the
interlocking Of directoratcs Of
great corporations-ban rail-
roads Industrial commercial and
public service bodies.
>. \ law TO confer upon the In
tcrstate Commerce Commission the
power to superintond and regulate
the financial operations by which
railroads ar" hcnccforth to be sup
piled with the money they need |
for their proper development and /
improved transportation facilities
The president made it clear that |
the prosperity of the railroads and
the prosperity of the country are
inseparably connected" in this re-
gard.
3. Definition of "the many hurt
ful restraints of trade, 10y explicit
legislation supplementary to the
sherman law
I. The creation of commission
10 aid the courts and to act as a
clearing house of information i'm
helping business to conform with
the law.
g. Provision To penalties and
punishment to fall upon individ-
uals responsible for unlawful bus
mess practices.
g. Prohibition of LolIng COM
panies and suggestion that the
voting power OF individuals hold
iug shares i'm numerous corpora
tions might be restricted
= Giving to private individuals
the right to found suits for re-
dress on facts and judgments
proven in government suits and
providing that statute of limit
ations should run only from the
date OF conclusion of the govern
ment's action.
The Presidents Remarks
The president spoke iu part as fol-
)wS.
"Gentlcmcnt of the Congress;
I'm my report 'on the state Of the
nion, which | had the privilege OF
eading To YOU on the second of De
ember last ! ventured To reserve for
iscussion at a later date the subject
{ additional legislation regarding the
cry difficult and intricate matter of
rusts and monopolies. The time now
GEMS opportune to turn that great
uestion; not only because the cur
ency legislation, which absorbed your
ttention and the attention Of the
ountry i'm December is now disposed
l..st al. |