Woodrow Wilson actually said...
To find that a just, reasonable, and fair profit is the normal average profit which persons engaged in the same business and place obtained prior to July 1, 1914, under free competitive conditions; to indicate if he shall see fit to do so, what margin over cost will return such a just, reasonable, and fair profit, and to take such legal steps as are authorized by said act to prohibit the taking of any greater profit.
Context
Executive Order 2765—Determination of a Just, Fair, and Reasonable Profit Under Section 5 of the Food Control Act
11/26/1917