The Birmingham age-herald., 1914-01-21
PRIVATE EMONOPOLYINT
AND INDEFENSIBLE, DECLARES
PRESIDENT WILSON IN MESSAGE

Washington, January 20.-Presiden
Wilson personally laid before a joint ses
sion of Congress today the fundame
principles of the democratic administra
tons programme for dealing with trust
and big business" The President pre-
sented the case, he said, "as ii lies II
the thought of the country" reitcratini
that private monopoly is indefensibl
and intolerable,' and declaring that con
scientious business men throughout TIL
nation would not be satisfied until prac
tices now deprecated by public opinion
as restraints of trade and commerce
mere corrected.
We are now about to write the addi-
tional articles of our constitution O
peace" said the President, the peac,
that is honor and freedom and pros
perity."
Besides suggesting the scope of legisla
tion the President made a personal ap
peal for an atmosphere of friendliness
and cooperation in Congress while
handling the problem.
''The antagonism," he said, "betweer
business and government is over. w,
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 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 law"
Chief Points of Message
The chief points which the President
singled out as a basis for legislation
were
/. Effectual prohibition of the inter
locking of directorates of great corpora
tions, banks, railroads, industrial, COM
mercial and public service bodies.
2. A law to confer upon the interstate
commission the power to SUI
perintend and regulate the financial OPP
ertaions by which railroads hencefortf
are to be supplied with the money they
reed for their proper development and
improved transportation facilities. The
President made it clear that "the prc s.
perity of the railroads and the prosperity
of the country are inseparably CON
in this regard.
8. Definition of the many hurtful re
straints of trade" by explicit Legislation
supplementary to the Sherman law.
a. The creation of a commission to aio
the courts and to act as clearing house
of information in helping business Il
conform with the law,
8. Provision of penalties and punish
ments to fall upon individuals response
BILE for unlawful business practices.
G. Prohibition of holding companies
and a suggestion that the voting power
of individuals holding shares in numer-
GUS corporations might be restricted.
7. Giving to private individuals the
iol,t tc
and judgments proven in government
suits and providing that statute OF liml-
tations should run only from the date ~
conclusion Of the governments action,
Presidents Speech
The President spoke as follows:
Gentlemen of the Congress:
I'm my report 'on the state of the
union which | had the privilege OF
reading to you on December q last.
ventured to reserve for discussion at 8
later date the subject of additional leg
islation regarding the very difficult ano
intricate matter of trusts and monopo
lies The time now seems opportunt
to turn to that great question; no
only because the currency legislation
which absorbed your attention and thu
attention of the country in December
is now disposed Of but also becaus,
with singular rapidity in this othe
great field of action. In the matte
of the currency it cleared suddenl.
and very happily after the much de
bated act was passed; in respect of thu
monopolies which have multiplied abou
us and on the regard to the variou.
means by which they have been or
ganiZed and maintained 1t seems to b'
coming to clear and all but universe
Tt. 81 tJo,,
as if by way of preparation, making tn,
way easier to see and easier to Sc
out upon with confidence and withou
confusion of counsel.
Legislation has its atmosphere lik,
everything else and the atmosphere o.
accommodation and mutual understand
ing which we now breathe with 81
much refreshment is matter of SINGER,
congratulation. 1t ought to make ou
task very much less difficult and em
barrassing than it would have beei
had we been Obliged to continue to ac
amidst the atmosphere of suspicion ant
antagonism, which has so long made |
impossible to approach such questions
with dispassionate fairness. Construc
tive legislation. when successful is al
ways the embodiment of convincing eX
pcrience and of the mature public opin
ion which finally springs out of tina
experience Legislation Is a business o
Interpretation. not of origination, AM
1t is now plain what the opinion is t
which we must give effect in this mat
ter. 1t is not recent or hasty opinion
1t springs out of the experience of
whole generation. 1t has clarified 1t
self by long contest and those who 70
a long time battled with 1t, and sough
to change 1t are now frankly and hon
orably yielding to it and seeking t.
conform their actions to it.
Made Head Against Them
THE great business men who or
ganiZed and financed monopoly ano
those who administered 1t in actual ev
cry day transactions have year aftel
year until now, either denied it's ex
istence or justified IL as necessary FOL
the effective maintenance and develop
ment of business processes of the coun
try in the modern circumstances O
trade and manufacture and finance; bu
all the while opinion has made heas
against them. The average busines.
man is convinced that the ways o.
liberty are also the ways of peace anc
the ways OF success as well, and at las
the masters of business on the great
scale have begun to yield their pref.
erence and purpose, perhaps their judg-
mont also. in honorable surrender.
What we are proposing to do, there
fore, is happily, not to hamper or inter
fere with business as enlightened bust.
ness men prefer to do it, or in any sense
to put 1t under the ban. The antag.
opiFm between these and the government
Is over. We are now about to give ex.
pression to the best business judgment OF
America, to what we know to be tn,
business conscience and honor of the land
The government and business men arr
ready to meet each other half way in q
common effort to square business meth.
DDS with both public opinion and the law
The best informed men of the h,l siness