American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1914-02-05
President Outlines Plan for Regu-
Iation of Trusts.
SQUARE BUSINESS WITH LAW
Explicit Definition Of the Policy and
Meaning Of Existing Laws is Of First
ACKNOWLEDGEMENTS Between
Business and Government.
is Now Over.

sage To-Day DeIOre a Joint session OF
the two houses of congress:
Gentlemen of the congress:
Union which l had the privilege OF
reading to you on the LIST of Decem-
Der last, l ventured to reserve for
discussion at a later date the subject
of additional legislation regarding the
very difficult and intricate matter OF
trusts and monopolies. The time now
seems opportune to turn to that great
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 appears
to be clearing about us with singular
rapidity in this other great field of
action. In the matter of the currency
1t cleared suddenly and very happily
after the much-debated act was
passed; in respect to the monopolies
which have multiplied about us and in
regard to the various means by which
they have been organized and main
tanned, 1t seems to be coming to a
clear and all but universal agreement
In anticipation of our action, as II by
the way of preparation. making the
way easier to see and easier to set
out upon with confidence and without
confusion of counsel.
Business of Interpretation.
Legislation has it's atmosphere like
everything else and the atmosphere Of
accommodation and mutual under
standing which we now breathe with
so much r~efreshment is matter of sim
cere congratulation. 1t ought to make
task very much less difficult and
embarrassing than it would have been
had we been Obliged to continue to
act amidst the atmosphere of suspi-
cion and antagonism which has so
long made 1t impossible to approach
such questions with dispassionate fair
ness. Constructive legislation, when
successful. is always the embodiment
OF convincing experience and Of the
mature public opinion which finally
springs out of that experience. Leg
islation is a business of Interpretation,
not of origination; and it is now plain
what the opinion is to which we must
give effect in this matter. It is not re.
cent or hasty opinion. 1t springs out
of the experience of a whole genera.
ton. 1t has clarified itself by long
contest. and those who for a long time
battled with it and sought to change
1t are now frankly and honorably
yielding to 1t and seeking to conform
their actions to 1t.
THE great businessmen who organ.
lied and financed monopoly and those
who administered 1t in actual every.
day transactions have year after year
until now, either denied its existence
or justified 1t as necessary for the eff
fective maintenance and development
of the vast business processes of the
country in the modern circumstances
Of trade and manufacture and finance;
but all the while opinion has made
head against them. The average
businessman is convinced that the
ways Of liberty are also the ways oil
peace and the ways of success as
we'll; and at last the masters Of bust
ness on the great scale have begun tc
yield their preference and purpose
perhaps their judgment also, in honor
able surrender.
VIII Not Hamper.
what we are purposing to do, there
fore, is happily not to hamper or in
terfere with business as enlightened
business men prefer to do IT, or in an,
sense to put 1t under the ban. Thu
a~ntagonism between business and gov
eminent is ove We are now abou
to give expression to the best business
judgment of America, to what WI
know to be the business conscience
and honor of the land. The govern
ment and business men are ready Il
meet each other half way in a commo
effort to square business methods will
both public opinion and law. The bes
informed men Of the business worll
condemn the methods and processe
and consequences Of monopoly as W
condemn them; and the instinctiv
Judgment Of the vast majority Of bus
ness men everywhere goes with them
We shall now be their spokesman
That is the strength Of our position
and the SURE prophecy Of what will Ell
sue when our reasonable work is done
when serious contest ends, whe.
men unite in opinion and purpose
those who are TO change their ways c
business. Joining with those who as
for the chang II is possible to effec
1t in the way in which prudent an
thoughtful and patriotic men woul
wish to see it brought about, with a
few. as slight, as easy and simple bus
ness resadjustments as possible In tn
circumstances, nothing essential oil
turbed. nothing torn up by the root
no parts rent asunder which can