The Washington times., 1937-12-27
Drive on Monopoly,
Profiteering Opened
For US. by Jackson
Big Business Wants to Write Its OUn
Ticket of Cooperation, He Charges
ONS) President Roosevelts drive for stiff legislative
cubs monopoly and proteerng prices opened in full

ISN lHS lNudN
Robert H. Jackson, Assistan
United States Attorney General il
charge of the Governments prose
cution of firms accused of monopo
listic practices, formally opened
the campaign last night in radio
address by questioning the sin
cerity of the offers of cooperation
made to the Government by bii
business.
He accused big business of want
ing to write it's cooperation "or
it's own terms; that they wan
the Government to promote bust
ness confidence by allowing monop
olies to continue.
Editors Note-At its recent an
nual meeting in New York, the
National Association of Manufac
turers went on record with the
declaration that business progress
could be resumed only if industry
was "unshackled" by Government
and labor.)
SAYS PEOPLE OPPOSE
Il say in plain words" Jack
son said, that the American
people do not want our Govern
ment to undertake that kind Of
cooperation. What business has
previously done in the name of
cooperation is too well remem-
bered for us to commit ourselves
to it again in the dark"
He blamed the current business
recession on the profiteering by
monopoly. He charged prices were
increased far beyond the increased
costs of production.
jackson denied the price in
creases were caused by increased
wages forced on industry by the
spread of labor unions. He cited
the 10 per cent increase granted
in the steel industry as "the most
dramatic wage increase Of the
year"
DATA TELL. STORY
"I have In Washington a de-
tailed and authoritative study as
to increases in steel prices.
wages and costs between April.
June. 1886, and April-June,
1887" Jackson stated. This
study shows the increases in
iron and steel prices, effective
December /, 1886, and March l.
1887, were three times as great
as necessary to cover the in
creased wage paid to steel work
ers, and at least twice the
amount necessary to cover the
increases in both the costs OF
labor and raw material during
the same period"
Slated to direct the Govern
ment's monopoly-busting drive
with legislation strengthening the
present Clayton and Sherman
antitrust acts, which have long
been attacked as being obsolete
and unable to cope with present
day trends, Jackson made these
accusations against the big busi
ness interests:
/. Its cooperation under the
Harding and subsequent Republic
an administrations resulted II
Ilaxity in the enforcement Of the
antitrust laws and collection o1
taxes from the big interests, which
so decreased the nations purchas
ing power and made inevitable
the terrible depression which over
took us in Mr.. Hoover's time"
2. It's cooperation with the Gov
ernment during the World Wa
resulted in prices "at profiteerint
levels" =" and a ghastly waste o1
the nations money under the pres
sure of war"
3. It's demands that the Gov
ernment reduce expenditures "sc
that business confidence coulc
revive" caused such expenditure
to drop 100000 month duI
ing the fiscal year ended Jun'
3O-only to be met by "monopol!
profits beyond all reason"