South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-06-26
WILL CARRY OUT
TRUST PROGRAM
I SAYS PRESIDENT
Business Has Grown More and
More Anxious as Result of
Criticism in the Past Ten
Years.
~


Wilson in an address TO the Virginia
Editorial association on Thursday de-
cIared that he would not turn aside
from his antitrust program and that
the trust legislation must and would
be passed at this session of congress
The president expressed the belief
that a business revival is near and
holds that with the passage of the
trust bills an immediate business
boom will follow. He declared that a
question mark has been troubling bust
ness for the last ten years and that
uncertainty should be ended. His ad-
dress in part was as follows:
During more than ten years busi-
ness has been the object of sharp
criticism in the United States. criti-
Cism growing in volume and growing
in particularly, and as natural con-
sequence. as the volume OF criticism
has increased, business has grown
more and more anxious.
Business men have acted as some
men do who fear they will have to
undergo an operation and who are
not sure that when they get on the
table the operation will not be a cap
ital operation. AS matter or fact,
as the diagnosis has progressed, 1t has
become more and more evident that
no capital operation was necessary;
that at the most a minor operation
was necessary to re- owe admitted
distempers and evils.
Fever Has Increased.
The treatment is to be constitu-
. I'll lsther than surgical affecting
heoits OF life and action which have
Oeen hurtful. For on all hands fl is
admitted that there are processes of
business in this country which ought
to be corrected; but the correction
has been postponed and in proportion
hn ha
increased-the fever of apprehension.
First there was the tariff and
business shivered. We don't like TO
go in; the water looks cold. but when
the tariff had been passed it was
found that the readjustment was pos
sible without any serious disturbance
whatever. So that men said with
sense Of relief, We'll. we are glad TO
get that behind US and it wasn't bad
after ALL
Then came the currency reform.
You remember with what resistance,
with what criticism, with what syste-
matte holding back, a large body of
bankers In this country met the pro-
pOsals OF that reform and you know
now, Immediately after its passage,
they recognized it's benefit and its
beneficence and how ever since the
passage OF that reform, bankers,
throughout the United States have
II was possible TO carry out this great
reform upon sensible and solid lines.
The Same Hesitation.
Then we advanced TO the trust
program and again the same dread,
the same hesitation, the same urgency
that the thing should be postponed.
IL Will not Oe postponed and il will
not be postponed because we are the
friends OF business. We know what
we are doing; we purpose To do il
under the advice. for we have been
fortunate enough TO obtain the advice
of men who understood the business
of the country; and we know that the
effect is going 20 be exactly what the
effect OF the currency reform was, a
sense OF relief and of security.
Because when the program is fin
ished. il is finished; the Interrogation
points are rubbed off the slate: bust
ness is given its constitution OF free
dom and is hidden so forward under
that leRiSia ton. And just as soon as
it gets that ieave and freedom there
will be a boom OF business In this
country such as we have never wit
messed I'm the United States.
81. as a friend OF business and
servant Of the country. would not
dare stop in this program and bring
on another long period OF agitation.
Agitation longer continued would be
fatal 10 the business OF this country
and II this program Is DELAYED there
viii come agitation with every letter
IN the word a capital letter. The
choice is a sober and sensible pro-
gram now completed. or months upon
months Of additional conjecture and
danger.
Matter of Conscience.
1T is a matter Of conscience as well
as matter OF large public policy 10
40 what this congress I am now GER
tain is going 20 do, finish the pro-
gram. And I do not think that il is
going 20 take a very long time"
A statement was issued Thursday
from Secy. McAdoo's Office declaring
that the country is generally pros
porous.
Business is 'spotty in some
places says the statement, "particu-
larry In those industries and supply
houses which depend largely on rail
way orders. but there are signs OF de-
cided Improvement even in this field"
No comment was made at the de-
partment on the failure OF the II g.
Clafiin company OF New York which
carried down with IL more than a
score or department stores in various
sections Of the country.
Comptroller Williams however
stated that while a mum Der OF banks
neld the paper OF the Clahin concern
none OF them would be seriously az
fected By the failure