Arizona daily citizen., 1901-12-03
R00SEVELT'S FIRST MESSAGE

great industrial centres has meant u
startling increase. not merely In the aR-
Rregate Of wealth but in the number Of
very large individual and especially OF
very large corporate fortunes. The crea-
tion of these great corporate fortunes has
not been due to the tariff nor to any gov
cInmental action. but to natural causes
In the business world, operating In other
countries ns they operate In our own.
II is no limitation upon property rights
or freedom of contract TO require that
when men receive from government the
privilege of doing business under cor
porate FORM which frees them from indi
vidual responsibility. and enables them
to call into their enterprises the capital
or the public, they shall do so upon abso-
luteiy truthful representations as to the
value OF the property In which the capital
In to be invested Corporations engaged
III Interstate commerce should be regu-
lated II they are found to exercise H.
cense working to- the public injury. II
should be as much the aim of those who
speak for social betteFment to rid the
business world OF crimes of cunning as
10 rid the entire body polite of crimes of
violence. Great corporations exist only
because they are created and safeguarded
bY our institutions. and IL IL therefore
our right and our duty 10 see that they
work IN harmony with these institutions
The first essential I'm determining how
To deal with the great industrial comhi-
nations ia knowledge of the facts~-pul.
lcity In the interest OF the public the
government should have the right To in
spect and examine the workings of the
great corporations engaged in interstate
business Publicity is the only sure rem
"dy which We can now invoke What
further remedies are needed In the way
"f governmental regulation or taxation.
can only be determined after publicity
has been obtained by process of law and
IA the course Of administration.
The large corporations. commonly
called trusts. though organized In one
state. always do business in many States,
often doing very iittl.. business In the
state whore they are incorporated There
il utter lack Of Uniformity IN the State
laW about them, and no State has anyr
exclusive interest In ar power over their
acts, II has In practice proved imPossi
itl" 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
state in the matter itself. alsn assume
power of supervision and regulation over
all corporations doing an interstate husi-
ness This is especially true wber" the
corporation derives portion OF iis
wealth from the existence OF some mono
poiistiC element or tendency In its busi-
ness.
The mechanism of modern business
IL 80 deiicate that extreme care must pe
taken not I" interfere with II In spirit
Of rashness or ignorance. Many Of ihUse
who have made II their vocation To de-
nounce the great industrial combinations
which are popularity. although with
technical inaecuracY. known as trusts
appeal especially to hatred and fear
These are precisely the two emotions
particularly when combined with ignor
Hnce which nniit men for the exercise of
cool and steady Judgment In facing ne~
Industrial conditions the whole history
OF the world shows that Legislation viii
generally he both un~ise aud Ineffective
Unless undertaken after calm inquiry and
with sober selfrestraInt Much OF the
legislation directed AT the trusts would
have been exceedingly mischievous had II
not also been entirely ineffective, In nc
rordance with a welt known sociological
law. the igrtvfant uf itcSiess saRiia;3T HsS
been the really effective friend Of the
evils which he has been nominaily oppos-
ing In dealing with business interests
for the government 10 undertake by
crude and ti-conEtdered Legislation io do
what may turn out TO br bad would br
To incur the risk of such far-reaching ma
tinnal disaster that IL would he preferable
Ia undertake nothing at all The f9su
who demand the impossible or the uude-
sirable serve as the allies Of the forces
with which they are nnminally Bt war
fu~ they hamper those who would en-
deayoT to find out ia rational fashion
what the wrongs really are and to what
extent and tn what manner 1t IL practi-
cable to apply remedies All this ts true
and yet II is also true that there are real
ana grave evils. one of the chief being
over capitalization because Of Its many
Fhlfltll consequences ana n TNSNbihlF ana
practical effort must be- made To correct
these evils.
There IN a widespread conviction iu the
minds Of the American people that the
great corporations known Hs trusts are
In certain of their features and tendencies
hurtful to the general welfare, This
springs from no spirit OF envy or M
charitab biTness. nor lack of pride in Ia.
great Industrial achievements that hay"
placed this country al the head Of the
nations struggling for commercial ST
premacy II does not rest upon Il lack ot
Intelligent appreciation OF the necessity
of meeting. changing. and changed CON
ditions OF trade with new methods nor
upon ignorance of the fact that combina-
tions Of capital In the effort to accom-
plish great things is necessary when the
worlds progress demands that great
things be done. II is based upon SINGER"
conviction that combination and concen-
tration should he not prohibited bnt
supervised and within reasonable limits
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