Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-03
WHAT ROOSEVELT
RECOMMENDS.
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seed only IL NC proceed patiently. with
practical common sense. as well as resoiu.
don separating The good from the Dad
and holding on to the former while en-
1eavoring 10 set rid OF the latter
CONTROL OF TRUSTS.
In my message TO the present congress
nj its first session / discussed at length
the question of the regulation OF those
big corporations commonly doing an In
fcrstate business often with some ten
dency to monopoly, which are popular
In known as trusts. The experience OF
INC pas. year has emphasized. in my
opinion. the desirability of the steps l
then proposed. A fundamental requisite
~ social efficiency is high standafd
of individual energy and excellence
but this Is in no wise inconsistent WIN
power to act in combination for aims
which cannot so we'll be achieved by the
individual acting alone. a fundamentl
base of civilization is the inviolabiiity
OF prosperity: but this is in no wise IN
consistent with the right OF society 10
regulate the exercise of the aruiiciai
mowers which It confers upon the owners
OF property. under the name of corporate
franchises, in such q way as to prevent
the misuse Of these powers. Corpora
lions. and especially combinations Oh
corporations. should be 1nailaSed under
public regulation. Experience has shown
that under our system Of government
the necessary supervision cannot be OBJ
tanned by State action. 1t must therefore
be achieved by national action. Our aim
is not to do away with corporations. on
ihe contrary. these big aggregations are
al inevitable development of modern IN
dustria1ism. and the effort TO destroy
them would be futile unless accomplished
in ways that would work the utmost mis-
chief TO the entire body polite. We can
do nothing Of good in the way Of regu-
1ating and supervising these corpora tons
until we fix clearly in our minds that
We are not attacking the corporations,
but endearoring TO do away with any
evil in them. We are not hostile to them;
we are merely determined that they shall
he so handled as to slibscrre the public
good We draw the line against .misoon-
duct. not against wealth. The capitalist
who alone or in conjunction. with his
fellows. performs some great industrial
feat BY which he wins money is a we'll
door. not a wrong-doer. provided only
he works in proper and. Legitimate lines.
We wish to favor such man when he
GOES we'll We wish to supervise and
control his actions only to prevent him
from doing Ill. Publicity can do no harm
TO The honest corporations; ard We need
not be overtender about sparing the
dishonest corporation. ,-''
MUST NOT STOP ENTERPRISE.
In curbing and regulating the combina-
tons of capital which are or may be-
come injurious to the public. We must
be careful not to stop the great enter
prises which have legitin1ately reduced
the cost of production, not TO abandon
the place which our country las won in
the leadership of the International in
dustrial world not to strike down wealth
with the result Of closing factories anu
mines. of turning the wage-worker idle
in the streets and leaving the farmer
without :, market for what he grows.
Insistence upon the impossible means de-
lay In achieving the possible. exactly as,
IN the other hand the stubborn defense
alike Of what is good and what is bad
m the existing system. the resolute eff
Tort TO obstruct any attempt at better
ment. betrays Blindness to the historic
truth that wise evolution is the sure
safeguard against revolution.
No more important subject can come
before congress than this of the regu-
lation of Interstate business. This coun-
try cannot afford to sit supine on the
plea that under our peculiar system of
government we are helpless in the pres
ence of the new conditions, and unable
to grapple with them or to cut out what
ever Of evil has arisen in connection
with them. The power of the congress to
regulate interstate commerce is an abSo-
lutte and unqualified grant and without
limitations other than those prescribed
by the constitution. The congress has
constitutional authority to make all laws
necessary and proper for executing this
power and I am satisfied that this power
has not been exhausted by any legisla-
ton now the statute books. 1t is ev-
ident. therefore that evils restrictive of
commercial freedom and entailng re-
straint upon national commerce fall
within the reguiative power of the con-
sresS and that wise and reasonable
law would be a necessary and proper ex-
ercise OF congressional authority to the
end that such evils should be eradicated.
OVER CAPITALIZATION.
I believe that monopolies unjust dis
ordinations which prevent Or cripple
competition. fraudulent overcapitaliza-
tion. and other evils in trust organiza
tions and practices which iniuriously
affect interstate trade can be prevented
under the power Of the congress to reg
uiate commerce with foreign nations and
among the several States" through regu
lations and requirements operating di-
rectly upon such commerce. the instru-
mentalities thereof, and those engaged
therein.
I earnestly recommend this subject to
the consideration of the congress with
view to the passage of n law reasonable
in its provisions and effective in its op
erations, upon which the questions can
be finally adjudicated that now raise
doubts as to the necessity of constitu-
tioEal amendment. If it prove impossi-
bic to accomplish the purpose above set
forth by such law then, assuredly, we
should not shrink from amending the
constitution SO as to secure beyond per-
adventure the power sought.
The congress has not heretofore made
any appropriation for the better enforce
ment of the antitrust law as it now
stands. Very much has been done by
the department of justice in securing the
enforcement Of this law. but much could
be done il congress would make a special
appropriation for this purpose, to be ex-
tended under the direction of the attor-
ney-general.
TARIFF REDUCTION.
One proposition advocated has been the
reduction Of the tariff as a means of
reaching the evils of the trusts which
fail within the category I have described.
Not merely would this be wholly inef-
fcctive. but the diversion of our efforts
In such a direction would mean the aban-
donment of all intelligent attempt to do
away with these evils. Many OF the larg-
est corporations. many of those which
should certainly be included in any