Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1901-12-03

l the skill, business energy, anu IIltCIidA-
ical aptitude of our people make foreign
markets essential. Under such condi-
tions it would be most unwise to cramp
or to fetter the youthful strength OF
our nation.
Moreover it cannot too often be
pointed out that to strike with
ignorant violence at the interests
of one set of men almost inevitably en-
dangers the interests Of all. The fun
damental rule in our national life-the
rule which underlies all others-is that,
on the whole, and in the long run, we
shall go UP or down together. There
are exceptions; and in times of pros>
perity some will prosper far more than
others; but speaking generally, peri
cd of good times means that all share
more or less in them, and in a period
of hard times all feel the stress to a
greater or less degree.
| The mechanism of modern business is
so delicate that extreme care must be
taken not to interfere with it in spirit
of rashness or ignorance. Many of
| those who have made it their vocation
to denounce the great industrial combi-
nations which are popularity although
with technical inaccuracy, known as
trusts" appeal especially to hatred
and fear. These are precisely the two
| emotions, particularly when combined
with ignorance, which unfit men for the
exercise of cool and steady Judgment.
| In facing new industrial conditions, the
| whole history of the world shows that
legislation will generally be both un-
wise and ineffective unless undertaken
after calm inquiry and with sober self
restraint. Much of the legislation di-
rected at the trusts would have been
exceedingly mischievous had it not al
so been entirely ineffective.
1t is no limitation upon property
rights or freedom of contract to re-
auire that when men receive from
government the privilege of doing bus
mess under corporate form, which frees
them from individual responsibility,
and enables them to call into their en-
terprises the capital of the public, they
shall do so upon absolutely truthful
representations as to the value of the
property in which the capital Is to be
invested. Corporations engaged in In
terstate commerce should be regulated
if they are found to exercise a license
working to the public injury. 1t should
be as much the aim of those who seek
for social betterment to rid the busi-
ness world of crimes of cunning as to
rid the entire body polite of crimes of
violence. Great corporations exist only
because they are created and safe
guarded by our institutions; and it Is
therefore our right and our duty to see
that they work in harmony with these
institutions.
The large corporations, commonly
called trusts though organized in one
state always do business In many
states, often doing very little business
in the state in which the are incorpor-
ated. 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 prac-
tice proved impossible to get adequate
regulation through state action.
Therefore in the interest of the whole
people, the nation should, without In
terfering with the power of the states
in the matter itself, also assume power
of supervision and regulation over all
corporations doing an interstate busf-
ness. This is especially true where the
corporation derive portion of Its
nopolstic element or tendency in it's
business. There should be no hardship
in such supervision; banks are subject
to it, and in their case it is now accept
ed as simple matter Of course. In
deed, it is probable that supervision of
corporations by the national govern
ment need not go SO far as is now the
case with the supervision exercised
over them by so conservative state
as Massachusetts, in order to produce
excellent results.
1 believe that law can be framed
which will enable the national govern
ment to exercise control along the lines
above indicated; profiting by the ex-
perience gained through the passage
and administration of the Interstate
Commerce Act. If, however, the judg-
ment of congress is that it lacks the
| constitutional power to pass such an
act, then constitutional amendment
should be submitted to confer the
| power.
A DEPARTMENT OF COMMERCE.
| There should be created cabinet
officer, to be known as Secretary of
Commerce and Industries, as provided
in the bill introduced at the last ses-
sion of congress. 1t should be his
province to deal with commerce in its
broadest sense; including among many
other things whatever concerns labor
and all matters affecting the great
business corporations and our merch-
ant marine.
| CONTRACT LABOR.
With the sole exception of the farm
! ing interest, TO one matter is of such
vital moment to our whole people as
the welfare of the wage-worker. II the
farmer and the wage-worker are well
off, 1t is absolutely certain that all
others will be well off too, 1t Is there
fore matter Of hearty congratulation
that on the whole wages are higher to-
day in the United States than ever be-
fore in our history, and far higher than
in any other country. The standard Of
living Ia also higher than ever before.
Every effort Of legislator and adminis-
traitor should be bent to secure the per-
manency Of this condition OF things and