In my message of a year ago I commented on the necessity of congressional
inquiry into the economic action of the antitrust laws. There is wide
conviction that some change should be made especially in the procedure
under these laws. I do not favor their repeal. Such action would open wide
the door to price fixing, monopoly, and destruction of healthy competition.
Particular attention should be given to the industries rounded upon natural
resources, especially where destructive competition produces great wastes
of these resources and brings great hardships upon operators, employees,
and the public. In recent years there has been continued demoralization in
the bituminous coal, oil, and lumber industries. I again commend the matter
to the consideration of the Congress.