Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1902-12-06
PRESIDENTS MESSAGE
Trusts Should be Regulated, But
Industries Not Imperiled.
TARIFF COMMISSION PROPOSED

Should Work Together For the Pub
lie Good-cubsn Reciprocity Urged
The Isthmian Canal.
Washington, Dec. 8. - The annual
message of President Roosevelt wa:
sent to congress today. In part it is a.
follows:
To the Senate and House of Repre-
sentatives: We still continue in a per
iod OF unbounded prosperity. This
prosperity is not the creature of law.
but undoubtedly the laws under which
we work have been instrumental in
crea ting the conditions which made 1,
possible, and by unwise legislation II
would be easy enough to destroy il.
There will undoubtedly be periods OF
depression. The wave will recede. but
the tide will advance.
In my message to the present con-
gress at its first session 1 discussed at
length the question of the regulation of
those big corporations which are popu-
larry known as trusts. The experience
of the past year has emphasized. in my
opinion, the desirability of the steps I
then proposed. A fundamental base of
civilization is the inviolability of prom
erty; but this is in nowise inconsistent
with the right of society to regulate the
exercise of the artificial powers which
1t confers upon the owners of prop
erty under the name of corporate fran
chises in such a way as to prevent the
misuse of these powers. Corporations
and especially combinations of corpor.
ations should be managed under public
regulation. Experience has shown that
under our system of government the
necessary supervision cannot be OBJ
tanned by state action. 1t must. there
fore, be achieved by national action.
Our aim is not to do away with cor
porations. On the contrary. these big
aggregations are an inevitable develop
ment 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 are not hostile
to them. We are merely determined
that they shall be so handled as to sub
serve the public good. We draw the
line against misconduct, not against
wealth.
In curbing and regulating the combi-
nations of capital which are or NAV
become injurious to the public we must
be careful not to stop the great enter
prises which have legitimately reduced
the cost of production. not to abandon
the place which our country has won in
the leadership OF the international in.
dustrial world, not to strike down
wealth with the result of closing fac
tories and mines, OF turning the wage
worker idle in the streets and leaving
the farmer without a market for what
he grows
l believe that monopolies, unjust dis
ordinations, which. prevent or cripple
fraudulent overcapitalizn-
ton and other evils ia trust orgauiza-
lions and practices which iniuriously
anect Interstate trade can be prevent
ed under the power OF the congress to
regulate commerce with foreign ma
tons and among the several states"
through regulations and requirements
operating directly upon such commerce.
the instrumentalities thereof and those
engaged therein. II It 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 per ,
adventure the power sought.
One proposition advocated has been
the reduction of the tariff as means
of reaching the evils of the trusts
which fall within the category I have
described. To remove the tariff as a
punitive measure directed against
trusts would inevitably result in ruin
to the weaker competitors who are
struggling against them. 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
a fair chance, and this end cannot be
reached by any tariff changes. The
question OF regulation of the trusts
stands apart from the question of tar
IN revision.
Moreover, if the tariff laws as a
"AOiS MOih well ana II business has .
prospered under them and is prosper
Ing, 1t is better to endure for a time
slight inconvenience and INEQUALITIES
N some schedules than to upset busi-
ness by too quick and too radical
changes. 1t is most earnestly to be
wished that we could treat the tariff
rom the standpoint solely of our bust
hess needs. PROFESSIONALLY these bust
hess interests will best be served If !
ogether, with fixity of principle as re-
cards the tariff, we combine a system
which will permit us from time to time
% make the necessary re-application
IF the principle to the shifting nation
II needs. One way In which the read
ustment sought can be reached is by
reciprocity treaties. 1t is greatly to be
desired that such treaties may be
adopted.
The cases in which the tariff can