Alma record. (Alma, Mich.) 1878-1928, 1902-12-05
chieved by national action 4"


I'VE draw tue line against miscon-
duct not against wealth"
in cnrbing and regulating the com
binati0nS OF capital which are or may
become Injurious TO the public we
must be careful! not 10 stop the great
enterprises which have legitimately
reduced the cost Of production not to
abandon the place which our country
has won i'm the leadership ~ the in
ternational industrial world not TO
strike down wealth with the result OF
closing factories and mines OF turn
ing the wage worker idle in the streets
and leaving the farmer without a
market FOR what he grows.
NEW LAWS NECESSARY.
The President advocates strength
ening and strictly enforcing the inter
state commerce law.
II believe the monopolies, unjust
! determinations, which prevent or
cripple competition, fraudulent over
capitalization and other evils IN trust
| organizations and practices which in
! iuriously affect interstate trade can
be prevented under the p lwer OF con-
greSS to regulate commerce with for
|
states, through regulations and re-
Quirements operating directly upon
such commerce. the Observation-Disclosures
| thereof, and those engaged thcrin.
II earnestly recommend this sub
! ject to the consideration OF the con.
! gress with a view in the passage Of q
| law reasonable in its provisions and
| effective i'm it's operat ions, upon which
| . l,a sp.p a qA A To-
ted that now raise doubts as t. the ne
ceSSity If constitutional amendment.
} Tit prove impossible 10 accomplish
the purposes set fourth by such law.
then, aSSuredly. we should not shrink
from amending the constitution 50 aS
10 secure beyond peradyenture the
power sought.
He also advocates an appropriation
for enforcement OF the antitrust Law,
THE TARIFF
ON the question Of the tariti, hC
holds SteadfaStly 10y the doctrine OF
protection and diScourageS any revi-
sion OF the law at the present time
lie holds that stability Of economic
policy must always he the prime econ
omic need Of the country.
I'VE must take scrupulOus care that
the reapplication shall he made IL
such a way that il Will not amount t.
a dislOcatiOn uf our system. the mere
threat Of which not u speak uf The
performance would produce paralySi.
in the business energies 0f the com
mUnity.
"Our past experience shows tina
great prosperity in this country Ia
always come under protective tariff
and that the country cannot prOSpe
under htful tariff changes at short in
tervals
There must never he any chang,
which Will jeOpardiZe the standard o
comfort, the standard OF wages OF tn
American wage-wOrker
RECIPROCITY.
lie fayors the extension OF our reel
prOclty agreements in such a name
, as Go benefit the whole people withou
! Gripping our Industries, and suggest
tariG commission which shall max
the subject a special study II ip az
case the tariff does produce monopoly
then he would have it amended a
this point. lie recommends the re
moyal Of the tariI on anthracite coal
BANKs AND CIRRENC1.
An element of elasticity is neceSSar
in our financial system. This can b
obtained only through some such wid
spread agency as our banking system
1T is suggested, however, that al
future legislation ON the Subiec
should be with the view Of encOutag
. ing the use OF such inStrumentalilie
. as will automatically supply every ie
climate demand OF productive indus
} tries and or cOmmerce, not only in tn
amount. but In the character or circu
latiun: aud OF making all kinds q
= money Interchangeable. and at tn
will of the holder convertible into tn
established gold standard,
IL again call your attention TO tn,
} need OF passing proper imm grafton
law, covering the points outllued IL
} my message 60 yJu at the hrst session
OF the present congress: substantially
such bill has already passed TN,
house.
LABOR AND CAPITAL
Under this head the President says
Both kinds OF federation, capitals
= tic and labor, can do much < cd, anC
as necessary cOrollary they can bJtf
! do evil. Opposition 20 each kind o
, organization should take the form O
? opposition TO whatever IL bad in Tn,
Il. Loo. al.