The Waterbury Democrat., 1938-06-30


 and Assistant Attorney General Thurman Arnold No. l and No. 2. trust-busters, gave them the low down straight from the shoulder.
 Whether you like it or not, gentlemen" Jackson told the industrialists, 'it is absoluately imperative for the welfare of the country that it get a re- alistic picture of underlying economic and financial facts.
 ''It is vitally important to know what effect taxes have on indus try; for example, whether it is true the capital gains and un- distributed profits taxes hurt busi- ness or didn't hurt business. Both business and government ought to know how various kinds of taxes operate on the economic system.
 "It is our intention to get this information. We hope you will cooperate with us, but whether you do or don't we mean to get at the facts and bring them to the light of day"
 Arnold, former Yale law profess sor, also tossed out some pointed plain talk, sandWiched between salty witticisms.
 This monopoly investigation" he said, "is not going to be a witch hunt. Get that out of your mind. We are not after headlines, and we most emphati- cally are not out to get anyone or any corporation.
 Our purpose is to get the facts about our national economy; how 1t operates, where it is going, what are the causes of its trend. We proposed to get this information in an organized and scientific man. ner, so that we know what we've got after we get it.
 "As to enforcement of the antitrust laws, can tell you this: As long as I am head of the antitrust Division, viOlatOrs will be prosecuted to the hilt. There is going to be none of this stuff of enforcing the law on Monday and carte blanche for the rest of the week, the policy under previous administrations. We are making no threats and issuing no ultimatums, but as long as the law is on the statute books am going to enforce it.
 That doesn't mean, however, that business man can't come in and discuss his problems with us. My door is always open to anyone who wants to come in and lay his cards on the table and frankly talk things over. Despite quite general belief in certain quarters, well known to you gen. tlemen, we are not devils with horns, as you can see your your selves"
 Hartman, the Man Behind This was the third informal talk that the business leaders and New Deal generalissimos have had in month.
 The get-togethers were insti- gated by w. Averell Hartman, literally inclined l.ead of the Union Pacific Railroad former NRA executive, and chairman of the Business Advisory Coun- ell, when 1t became certain that Congress was going to authorize the monopoly probe recom- mended by the President last spring.
 Their purpose is to enable the industrialists to exchange man. to-man views on the investiga- ton with the real powers within the Administration. Hartman be- lieveS that certain basic reforms must be made in the economic sys- tenn and that business stands to gain more by coopefating in mak- ing these changes than by per- sisting ill an intransigent atti- tude.
 The business conferees so far have been confined to members of the Business Advisory Coun- cil. Most of them are inclined to be friendly toward the adminis- tration and some have held office under 1t.
 Among the big-guns who sat in on the talks have been Gen. eral Robert Wood of Sears, Roe- buck; Clarence Francis of Gen. eral Foods; Walter c. Teagle of Standard Oil of New Jersey; William l.. Bait of SKF; Edward R. Stettinius of U. s. Steel: Marion Folsom of Eastman Ko~ dak; Sidney Weinberg of Gold man, Sachs, director of the New York Stock Exchange; s. Clay Williams of Reynolds To-