The daily journal. (Salem, Or.) 1899-1903, 1902-12-02
EAvORS A MORE ELASTIC SYSTEM
OF FINANCE - LABOR AND CAPITAL
Our Insular Possessions are All Right = A
Strong Plea for the ISthmian Canal.
Makes Humane plea for the Old, WOrn-Out Cavalry
Horses in the Army.

/ that we should cn1CaVOr to cut out
this evil. but let us keep a due sense
OF proportion; let us not In fixing our
gaze upon the lesser evil forget the
greater good The evils arc real and
some of them are menaCing, but they
are the OutgrOwth, not Of misery or
dpcadeuCo. but of prosperity the
progress of our gigantic industrial de.
velopment This industrial develop
ment must not be checked but side by
side with il should go such progressive
regulation as will diminish the evils.
| We should fail in our duty If we did
not try 70 remedy the evils, but we
shall succeed only If we proceed pa.
tlently, with practical common sense
as well as resolution, separating the
good from the bad and holding on 20
the former while endeavOring 20 get
rid Of the latter
Regulating the Trusts,
In my message to he present con.
grcss at It's first session ] discussed at
| length the question OF the regulation
Of those big corporations commonly
doing an interstate business, often
with some tendency to monopoly,
which are commonly known as trusts.
:
| emphasized, In my opinion, the desir-
/ ability of the steps ! then proposed.
/ A fundamental requisite of social cii.
cheney is a high standard OF individual
energy and excellence: but this Is in
/ no wise inconsistent with the power TO
/ act in combination for aims which can
not so well be achieved by the ndivid.
ual acting alone. A fundamental base
/ 10 ha
property: but this Is I'm no wise incon-
sistent with the right OF society TO reg
ulate the exercise of the artificial pow
ers which II confers upon the owners
of property. under the name Of cor
porate franchises, in such way as to
prevent the misuse OF these powers.
Corporations, and especially combin'
ations Of corporations. should be man
aged under public regulation. Expert
ence has shown that under our system
OF government the necessary superVis'
ion can not be obtained by state ac'
tion. Il must therefore be achieved
by national action. Our aim is not 10
do away with corporations; on the
contrary, these big aggregations are
an inevitable development OF modern
industrialism, and the effort 70 destroy
Inem WOulu Dt lullit uhlNeo aNN'iA
plished in ways that would work the
utmost mischief 20 the entire body
lpolitic. We can do nothing Of good IL
the way OF regulating and supervising
these corporations until we clearly M
lin our minds that we are not attack
ing the corporations, but endeavorinl
TO do away with any evil in them
We are not hostile 10 them; we are
merely determine that they shal
be so handled as 10 subserye the pubic
good. We draw the line against mis-
conduct, not against wealth. The cap
italist who, alone or In conJuncuoi
with his fellows performs some grea
industrial feat by which he wins mon
ey is well-doer, not a wrong doer
/, provided only he works in proper ant
: legitimate lines We wish To tayo
such a man when he does we'll w
/, wish to supervise and control his ac
tions only 20 prevent him from doinI
ill., Publicity can do no harm 20 IN
honest corporation; and we need no
! he over tender about sparing the dis
4 honest corporation
: Requires Great Care.
D In curbing and regulating the CON
( IbinatiOns of capital which are or ma
n become injurious TO the public W
n must be careful not to stop the grea
!. enterprises which have legitimatel
D reduced the cost of production, not I
D abandon the place which our countr
{ has won in the leadership OF the IN
~ temational industrial world, not {