Woodrow Wilson: “The implying of powers, once cautious, is now become bold and confident.”

I am not convinced that the method proposed is wise, that the benefits, if any, would offset the evils which would result, or that the same or larger advantages cannot be secured without resort to Government intervention.

It waits with acquiescence, in the first place, for laws which will effectively prohibit and prevent such interlocking of the personnel of the directorates of great corporations—banks and railroads, industrial, commercial and public…

For many months there has been a demand that war agencies should be abolished and that there should be less Government interference with business.

In recommending to you that Congress take appropriate action with regard to this agreement, certain facts should be brought to your attention.