The Hood River glacier. (Hood River, Or.) 1889-1933, 1902-12-05
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Washington, Dec. 8. - President
Roosevelt's annual address to congress
was read in both houses yesterday.
Following is synopsis Of the docu
ment:
To the senate and house OF representa-
tives:
We still continue in period of un-
bounded prosperity. This prosperity
is not the creature of law, but un-
d9ubtedly the laws under which we work
have been instrumental in creating the
conditions which made it possible, and
by unwise legislation it would be easy
enough to destroy it. There will un-
doubtedly be periods OF depression
The wave will recede, but the tide will
advance. This nation is seated on a
continent flanked by two great oceans.
1t is composed OF men the descendants
of pioneers, or, in a sense, pioneers
themselves; of men winnowed out
from among the nations of the old
world by the energy, boldness and love
of adventure found in their own eager
hearts. Such nation, 30 placed, will
surely wIest success from fortune.
In my message to the present con-
gress at its first session l discussed at
length the question OF tie regulation OF
those big corporations which are popu-
larly known as trusts.
Our aim is not to do away with cor
porations; on the contrary, these big
aggregations are an inevitable devel.
opment of modern industrialism, and
the effort to destroy them would be
futile unless accomplished in ways that
would work the utmost mischief to the
entire body polite.
l believe that monopolies, unjust
Determinations, which prevent or Grip.
pie competition, fraudulent overcapi-
taization, and other evils in trust or
CARNATIONS and practices which iniur.
iously affect interstate trade, can be
prevented under the power of congress
to regulate commerce with foreign ma,
tions and among the several states.
If it prove impossible to enact law
that will regulate these corporations
then, assuredly, we should not shrink
from amending the constitution so a,
to secure beyond peradventule the pow
er sought.
Stability of economic policy must al
ways be the prime economic need o
this country. This stability shoulC
not be fossilization. The country ha
acquiesced in the wisdom of the pro
tective tariff principle. 1t is exceed
ingly undesirable that this system
should be destroyed or that ther,
should be violent and radical change
therein. Our past experience show
that great prosperity in this countr,
has always come under a protective
tariff; and that the country canno
prosper under titful tariff changes a
short intervals. II is most earnestl,
to be wished that we could treat tn
tariff from the standpoint solely of on
business needs. The we'll being of th
wage Garner, like the we'll being OF tn
tiller Of the soil, should be treated a
an essential in shaping our who.
economic policy. There must never b
any change which will jeopardize tn
standard of comfort, the standard c
wages of the American wageworker.
One way in which the readiustmen
sought can be reached is by reciprocit
treaties. They can be used to wide
our markets and to give a greater fiel
for the activities of our producers, o
4 the one hand, and on the other han
to secure in practical shape the lower
ing of duties when they are no longe
needed for protection among our ow
. people or when the minimum of dan
= age done may be disregarded for tn
! sake of the maximum Of good accOmy
} lished.
: 1t would be both unwise and III
necessary at this time to attempt
reconstruct our financial system, whic
has been the growth Of a century; bV
: some additional legislation is, thinl
{ desirable. II is suggested that a
, future legislation on the subject shorl
I, be with a view Of encouraging the u.
5 of such instrumentalities as will aut
mstioally supply every legitimate d