The Tupelo journal., 1902-12-05
His Annual Communication Upon Questions
of Importance to the Nation.
VIEWS ON THE TRUSTS AND TARIFF
a Lowering of Import Duties Would Not Remedy the
Evils of Monopoly Believes in a Tariff Com
mission-Much That Is Good in Labor
Unions and Corporations-Many
Needs of the Nation.

To the Senate and House of Representa-
tives: We still continue in a period Of
unbounded prosperity. This prosperity is
not the creature OF law, but undoubtedly
the laws under which we work ave been
in creating the conditions
Which, made it possible, and by unwise leg
is'Nt19n 1t would be easy enough to destroy
oppression. The wave will recede; but the
tide will advance. This nation is seated on
a continent fanked by two great oceans:
II is composed of men the descendants of
pioneers, or in a. sense, pioneers them
selves; of men winnowed out from among
the nations of the old world by the energy.
holiness, and love of adventure found in
their own eager hearts. Such a nation, SO
placed, will surely wrest success from for
tune.
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
Ior veal. our place must be great among
the nations. We ma either fail greatly
or succeed greatly; but we cannot avoid
the en0eavor from which either great fall
ure or great success must come. Even If
We would. we cannot play a small part.
II we should try, all that would follow
would be that We should play a large part
ignobly and shamefully.
Causes of Prosperity.
NO country has ever occupied a higher
plane of material well-being than ours
at the present moment. This Well-being
is due to no sudden or accidental 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 all, to the high individ-
ual average of our citizenship. Great
fortunes have been won by those who
have taken the lead in this phenomenal
industrial development, and most of these
fortunes have been won not by doing
evil, but as an incident to action which
has benefited the community as a whole.
Never before has material well-being
been so widely diffused among our peo-
pie. Great fortunes have been accum-
ulated. and yet in the aggregate these
fortunes are small indeed when COM
pared to the wealth of the people as a
whole. The plain people are better off
than they have ever been before. The
insurance companies. which are prac-
ly helpful to men of moderate means
represent accommodations of capital which
are among the largest in this country.
There are more deposits in the Saving
banks, more owners of farms, more we'll
paid wage workers in this country now
than ever before in ourhistory. Of course,
when the conditions have favored the
growth of so much that was good, they
have also favored somewhat the growth
of what was evil. 1t is eminently neces-
sary that we should endeavor to cut out
proportion; let us not in fixing our gaze
upon the lesser evil forget the greater
good. The evils are real and some of
them are menacing, but they are the
o~utgrowth, not of misery or decadence.
but of prosperity-of the progress Of our
gigantic industrial development. This
industrial development must not be
checked, but side by side with it should
go such progressive regulation 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 we'll as resolution, separating
the former while endeavoring to get rid
of the latter.