New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-21
WILSON AIMS BLOW
AT CONSPIRACY"
More Letters in Support of
HIS Theory of Business
Collision.
SMOOT SHOWS LARGE
BALANCE AGAINST U. S.
Says May Figures Exceed $780,
OOO,OOO-Democrats Defend
Administration.
Iron The Tribune Bureau.l

fFrom The Tribune Bureau
Washington, Juno 2o.-Aiore letters OF
excerpts from letters to the Presideht
indicating that there is giant consp"-
acy on the part OF big business 70 priIlH
about a depression and to defeat tne
pendiag antitrust legislation were mace
public at the White House to-day
The names Of the writer's, with one eN-
ception, are not given; but the tone Oh
the letters made public tends to connrm
the impression already existing that the
President is convinced that he is con-
fronted by a nation wide conspiracy on
the part of the big corporations ana pusi-
ness institutions 10 scutue the snip Ia
order 10 bring his administration 70 as
aster
The situation is much the same as
that which existed when the tarih Dill
was pending before the Senate. Al that
time the President called into being the
phrase "the insidious lobby Al the
present time, when the antitrust oils
are being considered, the conspiracy OF
big business" is the target at when the
President is aiming.
Attention was directed TO the business
OF the country and the expectation Oh
gold by Senator Smoot on the moor OF
the Senate to-day. The Senator from
Utah read the figures Of a Treasury
statement, showing that the increase IN
imports and decrease in exports for the
month OF May showed a trade balance
against the United States Of more thah
100000.
"This month Of June" he added, rs
IN a fair way Of making a worse snow
ing than April or May" Some OF the
striking increases in importatons OIL
manufactured products pointed out by
Mr.. Smoot were: Woollen cloths SSS per
cert; silk goods. 401 per cent; leather
IL per cent.
Sees Cause for Alarm.
eve are exporting gold, and no won
der!" added Senator Smoot. III there
is not a change before many months III
the amount Of increased imports and de-
creased exports we may well wonder
what is going TO happen to our finances"
Democratic Senators took issue win
the Senator from Utah. Senator Hollis
declared that foreign holders, frightened
bv the revelations concerning the Ne"
Haven and the Frisco railroads, were
unloading American securities. which had
10 be taken up. Senator Thomas and
others insisted that the tariff had moth
ing to do with business depression
which was worldwide.
Senator owen asserted that three
groups of men, with headquarters in New
York, were responsible for present con-
ditions. He said these men controlled
$40, 900, OOOO 900, practically all the railroads
and every big industry in the country.
These men can forbid the railways to
buy rails, or buy steel cars, or to buy
frogs and switches, or to buy lumber OF
TO buy cross ties. These men can put out
OF employment thousands upon thousands
of men; these men can construct credits
in every district where a Representative
is 10 be elected this fall and in every
state where a Senator is to be elected.
These men have it in their hands TO send
down TO defeat any canddate-be he
Democrat, Progressive or Republican
who does not 5ympathize with them
Some members of the Senate who were
subjected to an investigation in connec-
ton with the "insidious lobby charge
are suggesting that it might be we'll to
revive the lobby committee to investigate
the "big business conspiracy" with a
view OF determining whether the Presi-
dent is right or whether their con-
stituents, who are making numerous
complaints, are right
Excerpts from Letters.
Following are some of the excerpts
from letters received by the President:
This from Missouri: 81 am heartily
glad that you have refused to be d.
verted from your proposed trust legisla-
ton by manufactured sentiment This
last move of big business is even more
fragrant, if possible, than that so ably
exposed by Senator La Toilette. The
country is prosperous"
From Fort Wayne. Ind: ''Your state
ment that big business is manufacturing
business depression is true, in my
opinion. and your policy in giving pub
lefty to the condition is good statesman
ship. This policy should have encour-
agement from the great mass Of men en-
gagged in competitive business, who are
to-day being used by the very small per-
centage of men engaged in monopolistic
business TO pull their chestnuts out of
the fire. AS a manufacturer Of the oppo-
site political faith from you, am in
sympathy with the administrations. poll
cies and accomplishments up to date
along the line of trust legislation"
From ST Paul: ut is quite manifest
that the cause Of the present hard times
is almost wholly due TO a united action