The sun., 1916-09-28
WILSON'S BUSINESS
SPEECH RIPPED UP
George W. Perkins Shows How
Democrats Have Failed
to Help Trade.
SHERMAN LAW HOLDS YET
Shipping Scheme Called elm
possible Proposition"
In Practice.
SHERMAN LAW HOLDS YET

Picking to pieces President wilson's !
Baltimore speech to business men
George W. Perkins In a letter just sent
TO Secretary Tumulty makes n vigorous
rejoinder TO the Presidents statement
that all was well with business men
under the present Administration. Speak
ing as n business man and az one con- !
nec,cd with many large corporations
Mr.. Perkins contradicts fatty the asser-
ton. for one thing. that n vast amount
OF constructive legislation helpful TO
, business has been enacted.
Every we'll informed man. says Mr..
Perkins. 'knows that nothing Of the sor,
has been done. The fact Is that the
Sherman law is still IN the statute books
and has not been modified or changed
In the slightest degree. The fact is that
not "A business concern comes any nearer
knowing to-day. after three and one
half years Of the Wilson Administration.
how 4, can do business legally on a large
scale tina 1t did when the Wilson Ad-
ministrI'ior began. for the Wilson Ad-
minIstration has not dom "A single thing
TO clarity he situation.
I'm his speech yesterday President
Wilson said A few years ago American
business mcn took up their morning
paper with some degree Of
To sec what the Government was doing
TO them. ! ask you II you take up the
morning paper now with any degree OF
nervousness? And I ask YOU II you
rave not found. those Of YOU who have
dealt with II at all. the Federal Trade
Commission to he put there to show you
the way in which the Government can
help you and not the way in which the
Government can hinder you
"Can you not induce President Wilson
TO b little more specific and point out
to L herein the Federal Trade COM
mission has the power 10 modify the
sherman law in the slightest degree" II
business men on picking up their morn
ing paper are less nervous now than they
were Il short while & 1t is not because
Of the establishment of the Federal
Trade Commission. but simply because
the Wilson Administration has not
brought rs M. ny suits under the Sher-
man law as tn" Taft Administration
did but III" sherman law is st!ll on our
books in ful. force and effect, and can be
used by any Subsequent administration
IN exactly the same way that the TAFT
Administrator used IL II "A subsequent
Administrator sees tit to do so"
Mr.. Perkins agrees thoroughly with
one statement Of the President. namely.
that IL IL hard TO define the functions OF
the Federal Trade Commission. In re-
gard To tho Presidents assertion that
some Of the laws enacted have greatly
helped IN clarifying the business situa-
ton. Mr.. Perkins insists that the laws
referred to have done AS little In this d.
rection as the Wilson seven sisters"
laws In New Jersey.
"When he was Governor of New Jcr-
sey and passed those seven laws in mad
haste one day." says Mr.. Perkins. he
told US that they We're the cure-all for
the trust problems of the country. lie
forced those laws through the New Jer-
sey Legislature at the same high speed
and by the same sort OF pressure az he
used to force through Congress the So
called eight hour law. Every man AT all
familiar with the situation knows that
the seven sisters laws have never cor
rec,ed a single evil In the corporate life
Of this country ~ which the people COM
planned. The corporations have con-
tinued to do business IN the same old
way. The seven laws neither helped
business nor protected the public"
Quoting from a speech made by Mr..
Wilson when he vas Governor on the
evils of over-capitalization. Mr.. Perkins
makes the charge that the President has
not lifted a finger to correct this si,ua-
ton. lie describes as "audacious' the
Wilson claim that the Administration
, had helped to expand our foreign trade,
, saying
president Wilson forbade this coun.
try Joining European nations in making
= "A loan TO China. and thereby shut us out
s Of the rare opportunity of getting a foot.
= hold In the great trade OF the Far East
!, President Wilson has allowed our com
t mercial relations with England to he.
, come so tangled during the war as 70
l make the situation almost intolerable for
: our business firms.
No Aid to Foreign Trade.
: Tho whole world knows that In
Mexico our flag was insultcd and that we
2 subsequently withdrew our demand fol
even an apology: that our men and
! women have been murdered and oul
: business concerns told to look out foi
themselves that they were In Mexico n
, their own risk. Splendid encouragement
, this. for Americans to enter other for
= eign countries. seeking to develop ouI
q trade"
y OF the Presidents explanation Of tho
= Governments plan To maintain shippinl
routes. Ut Il loss If need be. until private
: capital Ii ready to operate them, thu
Perkins letter says:
"Of all the impossible propositions
= from n practical point of view. ever sub
l. mitted to IA sane people this In about thu
/ limit on two counts. First, II the Gov
I eminent is going to do business at n los.
, what Is the practical difference between
that and granting a subsidy to a steam
ship company? Second, in his utter iSno
rance of business practices, Mr.. Wilson
A may believe. hut no one else does. tina
e the day will ever come when IA Govern
v ment owned shipping line doing business
I on n paying basis will turn that business
axar - a Lrixatelx nuned cnnccrpn