The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-02
!. THE TRUST PROBLEM

( I'm my message to the present congress
at its first session i discussed at length
the question Of the regulation of those big
corporations commonly doing an inter-
state business. often with some tendency
to monopoly; which are popularity known
as trusts. The experience Of the past
year has enpha sized, in my opinion, the
desirability of the steps then proposed.
"A fundamental requisite of social eff
cheney is a high standard Of Individual
energy and excellence; but this is In no
wise inconsistent with power to act in
combination for aims which can not SO
well be achieved by the: individual acting
alone. - "a-. - =. a'E.*
A fundamental base of civilization is the
inviolability of property; but this is in no
wise inconsistent with the right Of society
to regulate the exercise of the artificial
powers which it confers upon the owners
of property, under the name of corporate
franchises, in such a way as to prevent
the misuse Of these powers. Corporations,
and especially combinations Of corpora
tlons, should be managed under public
regulation. Experience has shown that
necessary supervision can not be obtained
by state action It must therefore be
achieved by national action.
NOT OBSTRUCTION. BUT REGuLA-
TON. -N..ss-
Our aim is not to do away with corr
porattons; on the contrary, these big az-.
gregatfons are an inevitable developments
Of modern industrialisn1, and the effort
to destroy them would be futile unless ac-s
,complished in ways that would work the
utmost mischief to the entire body polite.
We can do nothing Of good In the way
Of regulating and supervising these cor
<porations until we fix clearly In our minds
that we are not attacking the corpora
lions, but endeavorIng to do away with
aN$ aA~ Aa
them; we are merely determined that
they shall be 80 handled as to subservo
the public good. We. draw the line
against misconduct, not against wealth.
The capitalist who, alone or in coniunc-
ton with his fellows; performs some great
industrial feat by which he wins money
is a, welldoer, not a wrongdoer, provided
only he works In proper and legitimate
lines. We wish to favor such man
when he does well. We wish to supervise
and control his actions only to prevent
him from doing i'll.
Publicity can do no harm to the honest.
corporation; and we need not be over
tender about sparing the dishonest corr
poratIon.
A CONSERVATIVE COURSE. FAVORED.
In curbing and regulating the combiua-
lions Of capital which are or may become
injurious to the public we must be care
full not to stop the great enterprises
winch nave leg1t1mately reduced the Cost
of production, not to abandon the place
which our country has won in the leader
ship of the International Industrial world,
not to strike down the wealth with the
result Of closing factories and mines, of
turning the wage-worker idle in the
streets and leaving the farmer without a
market for what he grows 4Insfstence
upon the impossible means delay in
| achieving the possible. exactly as, on the
other hand, the stubborn defense alike Of
| what Is good and what Is bad In the ex-
listing system, the resoiute effort to OBJ
| struct any attempt at betterment, betrays
blindness to the historical truth that wise
evolution Is the sure safeguard against
revolution.
THE POWER OF CONGRESS.
No more important subject can come
before congress than this of the regulation
of interstate business This, country can
| not afford to sit suplne on the plea that
under our peculiar system Of government
| we are helpless In the presence OF the new
conditions, and unable to grapple with
1 them or to cut out whatever Of evil has
arisen in connection with them. The
power Of the congress to regulate Inter.
state commerce Is an absolute and un.
j qualified grant, and without limitations
i other than those prescribed by the con-
/ stitution. The congress has constitutional
i authority to make all laws necessary and
proper for executing this power, and 1
i am satisfied that this power has not been
exhausted by any legislation now on the
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