Durango semi-weekly herald., 1902-12-04

creed of the weakling and the coward
Ours is the gospel of hope and OF tri
umphant endeavor. We do not shrink
from troubles before us. There are
many problems for us to face at the
outset of the Goth century-grave
problems abroad and still graver ones
at home. but we know that we can
solve them. and solve them well. pro
vided only that we bring to the solu-
lion the qualities OF head and heart
which were shown by the young men,
who in the days of Washington
founded this government and. in the
days OF Lincoln. preserved it. No
country has ever occupied higher
plane OF material well being than ours
at the present moment. This we'll
being is due to no sudden or acciden-
tai causes, but to the play of the
economic forces in this country for
over a century: To our laws. our
sustained and continuous policies;
above to high individual average of
our citizenship. Great fortunes have
been won by those who have taken
the lead in this phenomenal industrial
development, the most of these for
tunes have been won. not by doing
evil. but as an incident to action
which has benefited the community
as whole. Never before has material
well being been SO widely discussed
among our people.
Great fortunes have been accumu-
lated, and yet in the aggregate these
fortunes are small in deed when COM
pared to the wealth of the people as
whole. The plain people are better
off than they have ever been before.
Insurance companies with their prac-
tioally mutual benefit societies-espe-
rial1y helpful to men of moderate
means-represent accumulations of
capital which are among the largest
in the country. There are more de-
posits in the savings banks more own
ers of farms, more well paid wage
workers in this country now than
aver before in our history. OF
course when the conditions have
favored the growth of so much that
was good. they have also favored
somewhat in the growth of what was
evil. It is eminently necessary that
we should endeavor to cut out this
avil but let us keep due sense of
proportion; let us not in fixing our
gaze upon the lesser evil, forget the
greater good.
The evils are geod and some OF
them menacing, but they are the out
growth not of misery or of decadence,
but of prosperity or progress of our
gigantic industrial developments.
This industrial development must
not be checked, but side by side with
1t should go such progressive regula-
tions as will diminish the evils. We
should fail in our duty If we did not
try to remedy the evils, but we shall
succeed only If we proceed patiently,
with practical common sense as well
as resolution, separating the good
from the bad. and holding onto the
former while endeavoring to get rid
of the latter.
In my message to the present con-
gress at its first session | discussed at
length the subject of the regulation
of those big corporations commonly
doing an interstate business which
are popularity known as trusts. The
experience of the past year has en-
phasized in my opinion the desirable
ity of the steps l then proposed. A
fundamental request of social eff
cheney and the high standard of indi-
vidual energy and excellence. But
this is in no wise Inconsistent with
the power to act in combination for
Irbi inh 90 10 Ual1 achieved
by the Individual acting alone. A
fundamental base of civilization is
the inviolability OF prosperity. But
this is in no wise inconsistent with
the right of society to regulate the ex-
ercise OF the artificial powers which
it confers upon the owners of the
property under the name corporate
franchises, in such way as to pre-
vent the misuse of these powers. Cor
porations and especially combinations
of corporations, should be managed
under public regulations. Expert
ence has shown that under our gov
ernment the necessary supervision
cannot be obtained by state action it
must therefore be achieved by ma
tional action. Our aim is not to do
away with corporations On the con-
trary these big aggregations are an
inevitable development OF modern in
dustrialism, and an effort to-destroy
them would be futuile unless accom-
plished 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
our minds that we are not attacking
the corporations, but endeavoring to
do away with an evil in them. We
are not hostile to them. We are
merely determined that they shall be
so handled as to subserve the pub
lie good. We draw the line against
misconduct. not against wealth. The
capital is this who alone in con-
juction with his fellows performed
some great Industrial feat by which
he wins money is a well-doer not
wrong-doer. Provided only he
works in proper and legitimate
lines We wish to favor such man
when he does well. We wish to sup
ervise and control his actions only
to prevent him from doing ill.
Publicity can do no harm to the
honest corporations, and we need