The Washington times., 1914-01-20
Business Peace
Basis of LQpS
Recommended
President Urges Trade Comission, Prohibition of
Interlocking Direct CRATES. Penalties for Pri-
vate Quilts Regulation of Railroad Finances
. and Definition of xisting Antitrust Law

Gentlemen of the Congress:
| In my report ION the state Of the
Union" which | had the privilege of
reading to you on the I'd of Decem-
ber last, / ventured to reserve for
discussion at later date the sub
ject of additional legislation regard
ing the very difficult and intricate
| matter OF trusts srd -'"-~--'ia-.
The time now seems opportune to
tur to that great question; not
only because the currency legisla-
ton which absorbed your attenuOn
and the attention of the country in
December, is now disposed of, but
also because opinion seems to be
clearing about US with singular ra-
pidity in this other great field of ac-
ton In the matter of the currency
it cleared suddenly and very happily
after the much-debated act was
passed; in respect of the monopolies
which have multiplied about us and
in regard to the various means by
which they have been organized and
maintained it seems to be coming to Il
clear and all but universal agree
ment in anticipation of our action,
as if by way of preparation, making
the way easier to see and easier to
set out upon with confidence and
without confusion of counsel.
Legislation has its atmosphere like
everything else, and the atmosphere
of accommodation and mutual un-
derstanding which we now breathe
with so much refreshment is matter
of sincere congratulation. 1t ought
to make our task very much less diff
fcult and embarrassing than it
would have been had we been
obliged to continue to act, amidst
the atmosphere of suspicion and an
! tagonism which has so long made it
impossible to approach such ques-
tions with dispassionate fairness.
!. Business of Interpretation
Constructive legislation, when sue
cessful, is always the embodiment of
convincing experience, and of the
mature public opinion which finally
springs out of that experience. Legis-
lation 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
1t is not recent or hasty opinion. II
springs out of the experience of q
whole generation. It has clarified
itself by long contest, and those who
) for long time battled with it and
sought to change it are now frankly
Z and honorably yielding to it and
seeking to conform their actions
to ii.
The great business men who or
ganized and financed monopoly and
those who administered it in actual
; everyday transactions have year after
year. until now, either denied its
existence or justified it as necessary
for the effective maintenance and de-
velopment of the vast business pro-
cesscs of the country in the modern
circumstances of trade and manu-
facture and finance; but all the
: while opinion has made head against
them. The average business man is
, convinced that the ways OF liberty
are also the ways of peace and the
| - oG Nrnls nn1 of Ia Gf
the masters of business on the great
scale have begun to yield their pref
ence and purpose, perhaps their
Judgment also, in honorable surren-
: der.
Square Business With the Law.
What We are purpOsing to do,
therefore, is, happily, not to hamper
or interfere with business as en-
lightened business men prefer to do
it, or in any sense to put it under the
ban. The antagonism between busi-
ness and government is over. We
} are now about to give expression to
the best business Judgment of Amer
ica, to what we know to be the buSi-
ness 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. The
best informed men Of the business
world condemn the methods and pro-
CesseS and consequences of monopoly
as we condemn them: and the in
sLinctiye judgment of the vast ma
iority of business 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 ensue when our reason
able work is done.
! When serious contest ends, When
men unite in opinion and purpose,
those who are to change their ways
of business joining with those who
ask for the change, it is possible to
effect it in the way in which prudent
and thoughtful and patriotic men
would wish to see it brought about,
with as few, as slight, as easy and
simple business readjustments as
possible in the circumstances. moth
ing essential disturbed, nothing torn
up by the roots. no parts rent asun-
der which can be left in wholesome
combination. Fortunately, no meas