The Elk Mountain pilot., 1902-12-09


bounded prosperity. This prosperity
is not the creature of law, but undoubt-
edly the laws under which we work
have been instrumental in creating the
conditions which made it possible, and
by unwise legislation it would be easy
enough to destroy it. There will un-
doubtedly be periods of depression.
The wave will recede: but the tide
will advance. This nation is seated on
continent ianked by two great
oceans. 1t is composed of men the de-
scendants OF pioneers, or, in a sense,
pioneers themselves; of men win
moved out from among the nations of
the Old World by the energy, boldness
and love of adventure found in their
or7n eager hearts. Such nation, SO
slaced, will surely wrest success from
fortune.
Ready to Face All Problems.
AS a people we have played large
part in the world, and we are bent
upon making our future even larger
than the past. In particular, the
events of the last four years have
definitely decided that, for woe or for
tho nations. We may either fail great
ly or succeed greatly; but we cannot
avoid the endeavor from which either
great failure or great success must
come. Even if we would. we cannot
play a small part. If we should try,
all that would follow would be that
we should pley a large part ignobly
and shamefully.
Trust Regulation.
In my message to the present Con
gress at its first session | discussed at
length the question of the regulation
of those big corporations commonly
doing an Interstate business, often
with some tendep~y to monopoly,
which are popularly known as trusts.
The experience of the past year has
in my opinion. the desir-
ability of the steps l then proposed.
requisite of social eff
cheney is high standard of individual
energy and excellence; but this is in
no wise Inconsistent with power to act
in combination for aims which cannot
SO well be achieved by the individual
acting alone. A fundamental base Of
civilization is the inviolabillty of prop
erty; but this is in no wise inconsist-
ent with the right of society to regu-
late the exercise of the artificial pow
ers which it confers upon the owners
of property. under the name of corpor
ate franchises, in such a way as to
prevent the misuse of these powers.
Corporations, and especially combina-
tions of corporations, should be man
aged under public regulation. Expert
ence has shown that under our system
of government the necessary supervis-
ion cannot be obtained by state action.
1t must therefore be achieved by ma
tional action.
Curing Evils in Corporations.
Our aim is not to do away with cor
porations; on the contrary, these big
are an inevitable de-
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 regulat
ing and supervising these corporations
until we fix clearly in our minus that
we are not attacking the corporations,
but endeavoring to do away with any
evil in them; we are merely deter
mined that they shall be so handled
as to subserve the public good. We
draw the line against misconduct,
not against wealth.
Publicity can do no harm to the hon
est corporation; and VIC need not be
overtenfer about sparing the dishon.
est corporation.
No more important subject can come
before the Congress than this of the
regulation of interstate business. This
cannos afford to sit supine on
no hot
TEN of government we are helpless in
and unable to grapple with them or to
cut out whatever of evil has arisen in
with them. The power of
the Congress to regulate interstate
commerce is an absolute and unquali-
fed grant, and without limitations
other than those prescribed by the
The Congress has constitutional au-
thority to make all laws necessary and
proper for executing this power, and
am satisfied that this power has not
been exhausted by any legislation now
on the statute books.
! earnestly recommend this subject
% the consideration of the Congress
with view to the passage of a law
in its provisions and effec-
i've in its operations, upon which the
questions can be finally adjudcated
that now raise doubts as to the neces-
sity of constitutional amendment If
1t prove impossible to accomplish the
purposes above set forth by such a
law then, assuredly, we should not
shrink from amending the constitution
so as to secure beyond preadventure
the power sought.
Tariff Reduction Ineffective.
One proposition advocated has been
the reduction of the tariff as a means
Of reaching the evils OF the trusts
which fall within the category l have
described. Not merely would this be
wholly ineffective. but the diversion
Of our efforts in such a direction would
n,aop tho n of oil ipta1I;