The Tabor independent. [volume] (Tabor, S.D.) 1913-19??, 1914-01-22
PRESIDENT MAKES
KNOWN TRUST PLANS
Would Break Up Interlccldng
Directorates aud Holding
Companies.

M h9g0GAOA "a WIS = NDANN S-
mental principles OF the democratic
ADMINISTRATORS program FOR dealing
with trusts and "big business" The
president presented the case, he said,
cas- II lies In the thought of the coun-
try" 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 m were corrected.
WI are now about to write the adj
-ditional articles OF our constitution OF
peace" said the president, the peace
that Il honor freedom ana pros
Besides suggesting the scope OF Leg
islation, the president made q personal
appeal for an atmosphere of friendli-
ness and cooperation In congress
while handling the problem.
Meet Half Way.
tween business and government 10
over. We are now about to give
EXPRESSION to tho best Judgment OF
America, TO what we know 70 be
the business conseience and honor
of the land. The government and
business mon are ready to meet
zach other half way In q common
effort to square business methods
with, both public opinion = the
law"
The chief points which the president
singled out as a basis for legislation
were: #.&s .ls G
~. EffectuaI prohibition Of the
iateriockineN of direetorates OF
great corporations-banks, rail-
roads, industrial, commercial and.
public service bodies.
~. A law to confer upon the
Interstate Commerce commission
the power to superintend and reg
ulate the financial operations by
which railroads are henceforth to
be supplied with the money they
need for their proper development
and improved TRANSPORTATION fao''-
The president made 1t. clear that
the prosperity of the railroads and the
prosperity OF the country ~inseparably
connected" In this regard. re 81. su
"3. Definition Of "the many
hurtfui restraints of trade" by
explicit legislation supplementary
to the Sherman law. b ,.
~. The creation of a commits
sion to aid the courts and to act
as a clearing house OF information
in helping business to conform
Z Y with the law.
@ punishnents to fall o individuals
responsible for unlawful business
"6. Prohibition Of holding COM
panies and a SUGGESTION that the
voting power of Individuals hold
ing shsres in numerous corpora >
tions mirht be restricted.
Il az. Giving TO private indiYid-
uals the right to fund suits for rc-
dress on facts and Judgments
proven in government suits and
providing that statute of l~innita-
lions should run only from the date
Of conclusion of the governments
action. q.
Mr.. Wilson's Address.
The president spoke as follows:
Gentlemen Of the congress:
In my report on the state Of the
union which I had the privilege OF
reading to you on the 1st of December
last, I ventured to reserve for dis
p cussion at a later date the subject OF
additional legislation regarding the
very difficult and Intricate matter OF
trusts M monopolies, The time o
seems opportune to turn to a greaI
question: not only because the cur
rency legislation, which absorbed your
attention and the attention of the
country In December, is now disposed
of, but also because opinion seems tc
be clearing about us with singular ra-
IS, pidity in this other great field of ac-
ton. In the matter OF currency II
cleared suddenly n very happily after
the much debated act was passed: In
respect of the monopolies which have
multiplied about us and in regard tc
h various means by which they have
been organized and maintained, II
aeems to be coming to q clear n al
but universal agreement In anticipa-
tion Of our action. as ifNby way OF
preparation, making the way easier Il
81 see and easier to set out IN with con
fidence and without confusion OF
counsel. p - Er...." -
Hostility Disappearing.
Legislation has its atmosphere like
everything else and the atmosphere oil
accommodation and mutual under
standing, which we now breathe with
so much refreshment Is a matter o.
sincere congratulation. II ought t.
make our, task very much less diflcult
and embarrassing than 1T would have
been had we been obliged to continut
to act amidst the. atmosphere Of sus'
picion and antagontsm which has SO
long made 1t impossible to approach
such questions with dispassionate fair.
ness. Constructive legislation, wher
successful, is always the embodiment
Of convincing experience and OF th'
mature public opinion which finally
springs out of that experience. Legis.
lation is a business OF interpretatior
not of origination, and II is now plaiI
y what the opinion Is to which we mus
give effect in his matter. It is mo-
recent or hasty opinion. 1t springs
out OF the experience of a whole gen.
grafton. 1t has clarified itself by Ions
contest. and those who for a long time
battled with 1t Inc sought to change 4
are now frankly and honorably yield
ing to 1t and seeking to conform theil
actions to il. @s 4t..
THE great business men who or,
ganized and financed monopoly anC
those who administered 1t in actua
svery day transactions have year aftel
year. until now, either denied It's ex
stence or justified IL as necessary FOL
he effective maintenance and develop
nent of the vast business processes o
he country in which modem circum
stances Of trade and manufacture ant
finance are involved; hut all the Will,
opinion has made head against them
fhe average business man rs con
7inced that the ways Of liberty ar
llso the ways OF peace and the ways O
success as well. and at last h mas
ers OF business OF the great scal'
lave begun to yield their preference,
and purpose, perhaps judgment also. II
honorable surrender.