Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-12-04
THE TRUSTS.
They Can BE Controlled Only by Ma
tiOnal Action.

In my message to the present congres
at its first session / discussed at length
the question of the regulation of those
big corporations commonly, doing an IN
terstate business, often with some ten
dency to monopoly, which are popularity
known as trusts. The experience of the
past year has emphasized, in my optn-
ion, the d~esirability of the steps / then
social efficiency is a high standard of
Individual energy and excellence: but
this Is in ro wise inconsistent with pow
en- TO act in combination for aims which
cannot 50 well be achieved by the indi-
vidual acting alone. A fundamental base
of civilization Is the inviolabllity of prop
erty; but this Is in no wise inconsistent
with the right Of society to regulate the
confers upon the owners of property, UNI
der the name of corporate franchises, In
such a way as to prevent the misuse
of these powers. Corporations, and espe-
should be managed under public regula-
ton. Experience has shown that under our
system of government the necessary
supervision cannot be obtained Ply state
national action. Our aim is not to do
way with corporations; or the contrary,
these big aggregations are an inevitable
development of modern indu'trialism, and
the effort to destroy them would be futile
unless accomplished in ways that would
work the utmost mischief tn the entire
body polite. We can do nothing of good
In the way of regulating and supervising
these corporations until we fix clearly In
our minds that we are not attacking the
corporations, but endeavoring to do away
with any evil in them. We are not hostile
to them; we are merely determined ma,
the public good. We draw the line
against misconduct, not against wealth
The capitalist who. alone or in conjunc'
tor with his fellows, performs some
n,onk inAttctrfai fFOt nv which hls vim
money is a wolldoer, not, a ~wrongdoer
provided only he works in roper ant
legitimate lines. We wish to favor sucf
a man when he doe; well, we Wish ,h e =
prevent him from doing. III. Puhlicit,
can do no harm to the honest corpora
ton: and we need not be overtende
about sparing the dishonest corporation
Must Exercise Care.
In curblng and regulating the cUnbina
tons of capital which are or may become
Injurious to the public we must be careful
not to stop the great enterprises whicl
have legitimately reduced The cost of pro
duction, not TO aba ndon the place whicl
our country has won In the leadership o
the international industrial world, not Il
strike down wealth with the. result, of clos
wage-worker idle In the streets and leav
ing the farmer without a market for wha
he grows. Insistence upon the impossibl
means delay In achieving the possible, ex
dSNly aot Oli NhV otAIi ~At ~
defense alike Of what Is good and what
bad in the existing system. the .resolute Ell
fort to obstruct any attempt at betterment
betrays blindness to the historic truth tina
wise evolution is the sure safeguard agains
revolution.
No more important subject can come be
fore the congres than this Of the regula
canno afford to sit supine on the plea tina
under our peculiar system of government
we are helpless in the presence of the ne
conditions. and unable to grapp,le with the
connection with them. The power Of tn
congress to regulate interstate CONNER
Is Al absolute and unqualified grant. an
scribed by the CONSTITUTION. The congress
has constitutional authority to make a
laws necessary and proper for executin
this power, and / am. satisfied that tn
~islation now on the statute books. 1t
evident, therefore, that evils restrictive
commercial freedom entalling RESTRAIN
upon national commerce fall within Il
regulative power Of the congress, aid tn
a wise and reasonable law would be a nece
sary and proper exercise Of COMPRESSION
authority to the end that such evils shou
I believe that monopolies, unjust al
ordinations, which prevent or cripp
competition. fraudulent overcapitalizatio
and other evils in trust organizations al
state trade can be prevented under the po,
err Of the congress to regulate CONNER
with foreign nations and among the Sc
erai states" through regulations and r
quirements operating directly upon SUI
commerce. the instrumentalities thereS
and those engaged therein.
/ earnestly recommend this subject to Il
consideration Of the congress with a vie
10 the passage of a law reasonable In
provisions and effective In its operation
upon which the questions can be final
adtudlcated that now raise doubts. as
.ss necessity Of constitutional amendmer