Oxford eagle. (Oxford, Lafayette Co., Miss.) 1876-current, 1902-12-04

THE TRUSTS.
They Can he Controlled Only by Ma
fionnl Action.


In my message to the present congress
at its first session | discussed at length
the question of the regulation of those
big corporations commonly doing an in
terstate business, often with some ten
dency To monopoly, which are popularity
known as trusts. The experience of the
past year has emphasized, in my opin-
ion, the desirability OF the steps | then
proposed. a fundamental requisite of
social efficiency is high standard of
individual energy and excellence; but
this is in no wise inconsistent with pow
er TO act in combination for aims which
cannot so well be achieved by the indi-
vidual acting alone. A fundamental base
of civilization is the inviolability of prop
erty; but this is in no wise inconsistent
with the right of society 10 regulate the
exercise of the artificial powers which IL
confers upon the owners of property, un-
der the name of corporate franchises, in
such a way as to prevent the misuse
OF these powers, Corporations, and espe-
cially combinations OF corporations,
should be managed under public regula-
ton. Experience has shown that under our
system of government the necessary
supervision cannot be obtained by state
action. Ii must therefore be achieved by
national action. our aim is not to do
away with corporations; on the contrary,
these big aggregations are an inevitable
development 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 We can do nothing of good
in the way Of regulating and supervising
these corporations until we fix clearly In
our minds that we are not attacking the
corporations but endeavoring to do away
with any evil in them. We are not hostile
10 them. we are merely determined that
they shall be so handled as to subserve
the public good. We draw the line
against misconduct, not against wealth.
The capitalist who, alone or in conjune-
ton with his fellows, performs some
great Industrial feat by which he wins
money is a welldoer, not wrongdoer
provided only he works in proper and
a man when he does well. We wish to
supervise and control his actions only to
prevent him from doing. i'll, Publicity
cen do no harm to the honest corpora
ton: and we need not be overtender
about sparing the dishonest corporation.
Must Exercise Care
In curbing and regulating the comolna-
tions of capital which are or may become
Injurious TO the public we must be careful
not to stop the great enterprises which
have legitimately reduced me cost OF Pre-,
our country has won in the leadership of
the international industrial world. not to
strike down weaith W!tn 'he result OF el9s-
wage-worker idle in the streets and leav-
ing the farmer without market for what
he grows Insistenoe upon the impossible
means delay in achieving the possible, eN-
actly as en- the other hand, the stubborn
defense alike of what is good and what is
bad I'm the existing system, the resolute ef-
fort 10 obstruct any attempt al oetterment,
betrays blindness to the historic truth that
wise evolution is the sure safeguare against
revolution.
fore the congress than this of the regula-
tion of Interstate business. This country
cannot afford TO sit Suplne or the plea tilat
under our peculiar system OF government
We are helpless in the presence OF the new
conditions, and unable TO grapple with them
or to cut out whatever of evil has arisen In
connection with them. The power OF the
congress to regulate interstate commerce
Is an absolute and unQuaiifled grant, anc
without limitations other than those pre-
seribeG by the restitution The congress
has constitutional authority to make all
laws necessary and proper for executing
this power, and-l am satisfied that this
power has not been exhausted by any leg
iSlatiOn now on the statute books. II is
evident, therefore, that evils restrictive OF
commercial freedom eBiailing restraint
upon national commerce fan within the
regGlative power of the congress, ane that
a wise anG reasonable law would be neceS-
sary ard proper exercise of congressional
authority 10 the end that such evils should
be eradicsted
/ believe that monopolies. unjust dis
ordinations, which prevent or cripple
competition, fraudulent capitalization.
and other evils In trust organizations and
practices which injuriously AFFECT inter
state trace car be prevented under the pow
er of the congress to regulate commerce
eral states" through regulations and re-
Quirements operating directly upon such
commerce. the instrumen talities thereof.
ard those engaged therein.
] earnestly recommend this subject to the
consideration of the congress with view
provisions ard effective in its operations.
upon which the questions can be finally
a61udicateG that now raise doubts as TO
the necessity OF constitutional amendment