The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-08-30
PRIEST. ROOSEVELT
SPEAKS ON TRUSTS
Continued from Page u

is in duty bound to control them wher-
ever the need for such control is shown
There is clearly need of supervision
need to exercise the power of regulation
on the part of the representatives of the
public wherever, as in our own country
at the present time, business corporations
become so very strong both for bench
cent work and for work that is not al
ways beneficent. 1t is idle to say that
there is no need for such supervision. A
sufficient warrant for it is to be found
over and over again in any of the various
evils resulting from the present system,
or rather lack of system.
There is in our country a peculiar
difficulty in the way of exercising such
supervision and control because of the
peculiar division of governmental power
When the industrial conditions were sim
pie very little control needed, and
no trouble was caused by the doubt as to
where power was lodged under the consti-
tuition. Now the conditions are compll-
Gated and We find it difficult to frame ma
tionaI legislation which shall be adequate,
while as a matter of practical experience
state action has proved entirely inSufl-
cient and any in all human probability
cannot or will not he made sufficient to
meet the needs of the case. Some of our
states have excellent laws-laws which 1t
would be well indeed to have enacted by
the National Legislature. But the wide
differences in these laws, even between
adjacent states and the uncertainty of the
power of enforcement result practically
in altogether insufficient control L be-
lieve that the nation must assume TINS
power of control by legislation, and II 1t
becomes evident that the constitution VIII
not permit needed legislation, then py
constitutional amendment. The immediate
need in dealing with trusts is to place
them under the real, not nominal. con-
troll of some sovereign to which as it's
creature, the trusts shall owe allegiance.
and in whose courts the sovereignS or
ders may with certainty be enforced.
This is not the case with the ordinary
so-called trust today, for thu trust is
large state corporation, generally DONG
business in other states also. and often
with a tendency to monopoly. Slch
trust is an artificial creature, not wholly
responsible to or comfortable by any leg
islature, nor wholly subject to the Jurls-
diction of any one court Some govern
mental sovereign must be given full power
over these artificial and very powerful
corporation beings. In my judgment
this sovereign must be the National gov
eminent. When it has been given fun
power then this full power can be used TO
control any evil influence, exactly as the
government is now using the power cen
ferred upon it under the Sherman anti
trust law Even when the fun power has
been conferred it would be mighty un-
desirable to attempt too much, Or TO be-
gin by stringent legislation. The
mechanism of modern business is as deli
cate and complicated it is vast and
nothing would be more productive of evil
to all of us and especially to those least
well off in this worlds goods, than ignor-
ant meddling with this mechanism and
2 bove all, if the meddiing was done in a
spirit of class or sectional rancor- 1T is
desirable that this power should De pos
sessed by the nation but it is quite as
desirable that the power should De exer-
cised with moderation and self-restraint
The first exercise of that power should
he the securing of publicity among all
great corporations doing an interstate
business. The publicity, though non-in-
quisitorial should be real and thorough
as to all important facts with which the
public has concern