The Penn's Grove record., 1901-12-06


right to inspect and examine the workings
OF the large corporations engaged in inter
state business. Continuing lie says:
Artificial bodies, such as corporations
and Joint stock or other associations, de-
pending upon any statutory law for their
existence or privileges, should be subject
to proper governmental supervision, and
full and accurate information as to their
operations should be made public regu-
larry at reasonable intervals.
The large corporations, commonly called
trusts, though organized in one State, al
ways do business in many States, often
doing veJy little business in the State
where NV are Incorporated. There is
utter lacK Of uniformity IN the State
laws about them, and as no State has any
exclusive interest In or power over their
acts, it has in practice proved impossible
to get adequate regulation through State
action. Therefore, in the interest of the
whole people, the Nation should, without
interfering with the power Of the States
in the matter itself, also assume power Of
supervision and regulation over all cor
porations doing an interstate business.
The President then states that if Con-
gress does not have the power to frame a
law which will enable the Federal Govern
ment to exercise the control referred to,
then, he believes, a constitutional amend
ment should be submitted to confer the
power.
He recommends the creation of a Cab
met officer to be known as Secretary of
Commerce and Industries. 1t should be
his province to deal with m in its
broadcast sense, including among many
other things whatever concerns labor and
all matters affecting the great business
corporations and our merchant marine.
After referring to the present prosperccs
condition Of the wdgeswdrkers ths Presi-
dent remarks that every effort Of legisla-
tor and administrator should be
bent to secure the permanency of this
state of affairs and its improvement
our labor should be protected so far
as it is possible from the presence in this
country of any laborers brought over by
contract. or Of those who, coming freely,
yet represent a standard Of living so de-
pressed that they can undersell our men
in the labor market and drag them to a
lower level. ] regard it as necessary, with
this end in view, to re-enact Immediately
the law excluding Chinese laborers. and to
strengthen it wherever necessary in order
to make its enforcement entirely effective.
President Roosevelt declares that our
present immigration laws are unsatisfac-
Tory. He believes that a comprehensive
law should be enacted with the object of
working a tbreefold improvement over cur
present system. First, we should aim TO
include all persons who are known to
be Anarchists, and also all persons who
arc of a low moral tendency; secondly, to
secure by a careful test some intelligent
capacity to appreciate American institu-
tions and to act sanely as American citi-
zens; and thirdly, to exclude all persons
who are below a certain standard of eco
nomic fitness to enter our industrial field
as competitors with American labor.
The President is in favor of letting the
tariff rest without revision for the pres
ent. He says.
There is general acquiesoenee in our
present tariff system as d national policy.
The first requisite to our prosperity is the
policy. Nothing could be more u1wise
than to disturb the business intebssta of
the country by any general tariff@.
at this time. Yet it is not only possrDrv,
but emiuently desirable, to combine with
the stability of our economic system a
supplementary system of reciprocal benefit
and obligation with other nations. Such
reciprocity i an incident and result Of
the fri establishment and preservation
of our present economic policy. 1t was es-
pecialiy provided for in the present tariff
law.
Reciprocity must be treated as the hand
maiden of protection. Our first duty is to
see that the protection granted by the
tariff in every case where it is needed is
lAiRA tth0 tAtA0 81 IVY ~ 1O161
for so far as it can safely be done without
injury to our home industries. The vel
being OF the wage-worker is a prime con-
sideration of our entire policy of economic
legislation.
a policy of reciprocity will be in onuec
ton with those Of our productions which
no longer require all-of the support once
needed to establish them upon O sound
basis, and with those others where either
because Of natural or of economic causes
we are beyond the reach Of successful com
petition.
The next subject discussed ia the mer-
chant marine. The President says it is
discreditable to us as a a2tion hat only a
triiiing portion of our great Is
carried on our own ships. To remedy this
state of things, he continues, would not
merely serve to build up our shipping in
~terests, but it would also result in benefit
to all who are interested in the permanent
establishment of a wider market for
American products, and would provide an
auxiliary force for the navy. 1t should be
made advantageous to carry American
goods in American bull {ships.
At present America shipping is under
certain great disadvantages when put in
competition with the shipping, of foreign
countries. Our Government should take
such action as will remedy these inequali-
ties. The American merchant marine
should be restored to the ocean.
For the first time appropriations for If
~rigation and the reclamation of Desert
lands are suggested. Appropriations, lin
tied to necessities, are b%espoken for the i'm
provement of the rivers and harbors.
The President c~ongratulates the country
on the workings of the gold standard
money system. He says it is timely and
judicious and desirable to maintain. lie
praises the National Banking law, blC
says there is need of better safeguards
against financial panics, and that the cur
rency should be responsive to trades de-
mands.
The collections from duties on imports
and internal taxes continue to exceed the
ordinary expenditures of the Government,
thanks mainly. to the reduced army ex-
penditures. The utmost care should be
taken not to reduce the revenues SO that
there will be any possibility of a deficit,
brt, after providing against any such con-
tingency, means should be adopted which
will bring the revenues more nearly with
in the limit Of our actual needs. This sec,
ton OF the message closes with a demand
for strict economy in expenditures.
President Roosevelt writes that expe-
rience has show, the wisdom of the pur-
poses of the Interstate Commerce act. but
has also shown, possibly, that some of its
requirements are wrong certainly, that the
means devised for the enforcement Of its
PROVISIONS are ueIecVlNe. Inc act snoui"
be a-Aended. The railway is a public ser
vants Its rates should be just to and open
to all shippers alike. The subject is one OF
great inheritance and calls for the earnest
attention of the Congress.
After a brief reference to the splendid
work in the way OF upbuilding domestic
and foreign trade which is being carried
on by the Department of Agriculture, the
message discusses our ~insular possessions.
l. Hawaii our aim must be to develop
the territory on the traditional American
lines. We do not wish a region of large
estates titled by cheap labor; we wish a
healthy American community of men who
themselves till the farms they own All
our legislation for the islands should be