Gilpin observer., 1902-12-04
THE PRESIDENTS MESSAGE.

IeIIOWS, performs some great Industrial
feat by which he wins money is a
welldoer. not wrongdoer, provided
only he works in Woper and legitimate
lines. We wish to favor such a man
when he does well. We wish to su-
pervise and control his actions only to
can do no harm to the honest corpora
ton; and we need not be overtender
about sparing the dishonest corpora
tion.
In curbing and regulating the COM
biz atoms of capital which are or may
become injurious to the public we must
be careful not to stop the great enter
prises which have legitimately re-
duced the cost of production. not to
| abandon the place which our country
has won in the leadership OF the in
terrational 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 mar.
kct for what he grows. Insistence upon
the impossible means delay In achiev-
ing the possible, exactly as. on the
other hand. the stubborn defense alike
of what is good and what Is bad in
the existing system the resolute ef-
ment, betrays blindness to the historic
truth that wise evolution is the sure
safeguard against revolution.
INTERSTATE COMMERCE.
No more important subject can
come before the Congress than this of
the regulation of interstate business.
This country can not afford to sit
supine on the plea that under our pc
culiar system of government we are
helpless In the presence of new condi-
tons. and unable to grapple with them
or to cut out whatever of evil has
arisen in connection with them.
Tho power of Congress to regulate
.-A- 49, -
unqualified grant, and without Iimita-
the CONSTITUTION. The Congress ha.
constitutional authority to make all
laws necessary and proper preex Tor exeeSs. cut.
this power has not been exhausted by
any legislation now on the statute
books. It is evident therefore, that
evils restrictive of commercial free
dom and entaiIins restraint ;..,, upon .h ma na.
uIative power Of Congress, and that a
wise and reasonable law would be
necessary and proper exercise Of con.
gre ssional authority to the end that
such evils should be eradicated.
/ believe that monopolies. unjust
determinations. which prevent or Grip
pie competition, fraudulent overcapi-
taliZation. and other evils In trust Or
ennizations and practices which m
iur:ously affect interstate trade can be
prevented under the power of Con-
gress to regulate commerce with Tor.
eign nations and among the several
states" through regulations and re-
quirements operating directly upon
such commerce. the instrumentalities
| thereof, and those engaged therein.
/ earnestly recommend this subject
to the consideration of the Congress
with a view to the passage or a law
reasonable in it's provisions and ef-
| fect.ye in it's operations, upon which
Lei o.
Gated that now raise doubts as TO the
necessity of constitutional amendment.
X II prove impossible to accomplish
tie purposes above set forth by sucn
n law then, assuredly, We should not
shrink from amending the constitution
so as to secure beyond peradventure
| the power sought.
The Congress has not heretofore
made any appropriation for the bet
ter enforcement of the antitrust law
as IL now stands. Very much has been
done by the department OF justice IN
| securing the enforcement of this law.
but much more could be done II Con-
gress would make special appropria
| ton for this purpose. to be expended
under the direction of the attorney
! general.
! TRUSTS AND TARIFF SEPARATE.
One proposition advocated has been
| the reduction of the tariff as means
of reaching the evils of the trusts
which fall within the category nave
described. Not merely would this De
wholly Ineffective, but the diversion OF
| Our efforts in such direction Would
mean the abandonment OF all intelligent
attempt to do away with these evils
Many of the largest corporations. many
| of those which should certainly be in
| cluded in any proper scheme OF reSu-
lation. would not be affected In tho
slightest degree by charge III the
tariff, save as such change iutcrfered
with the general prosperity of the
country. The only relation of the tar
| in to big corporations as n whole is
| that the tariff makes manufactures
| profitable. and the tariff ren>dy pro-
posed would be in effect simply 20 make
| manufactures Improbable. To remove
| the tariff as n punitive measure di-
rected against trusts would inevitably
result In ruin to the weaker competi-
| tors who are struggling against thcm.
| our aim should be not by unwise tariff
| changes to give foreign products the
advantage over domestic products. but
| by proper regulation to give domestic
| competition fair chance; and this
| end cannot be reached by any tariff
| changes which would affect unfavora-
by all domestic competitors. good ana
| bad alike. The question of regulation
| of the trusts stands apart from the
| question of tariff revision.
| Stability of enonomic policy must al
| ways be the prime economic need OF
| this country. This stability should not
be fossilization. The country has
aca,iiesced in the wisdom of the pro-
tective tariff principle. 1t is exceed
| ingIy undesirable that this system
should be destroyed or that there
should be violent and radical changes
| therein. Our past experience shows
that great prosperity in this country
has always come under protective
tariff; and that the country cannot
prosper under fitful tariff changes at
short Intervals. Moreover. II the tariff
laws a n whole work well. and II busi-
nes has prospered under them and is
prospering, 1t is better to endure for a
time slight Inconvenience and inequal-
tiles In some schedules than to upset
business by too quick and too radical
changes. 1t is most earnestly to be