The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-03
TRUSTS AND THE TARIFF.
Regulation of Interstate Business
Urged-Anthracite Duty Should Go.

In my message to the present Congress
at its first session l discussed at length the
regulation Of those big corporations COM
monty doing an interstate business. often
with some tendency to monopoly. which are
popularity known as trusts. The experience
OF the past year has emphasized. in nv
opinion. the desirability of the steps I then
proposed A fundamental requisite of So
cial efficiency is a high standard of indi-
vidual energy and e~xcellence; but this is
in no wise inconsistent with power 10 act
in combination for aims which cannot so
well be achieved by the individual acting
alone. A fundamental base of civilization
is the fnviolability of property: but this is
In no wise Inconsistent with the right of
society TO regulate the exercise of the ar
ti1cial powers which 1t confers upon the
owners of property, under the name of cor
porate franchises, in such a way as TO pre-
vent the misuse Of these powers. Cornora-
lions, ana especially combinations of cor
pordtlonS, should be managed under public
regulation. Experience has shown that
under our system of government the neces-
sary supervision cannot be obtained by
State action. 1t must, therefore. he
achieved by national action. Our aim 10
not to do away with corporations: on the
contrary, these big aggregations are an in
evltable development of modern INDUSTRIAL
ism. and the effort to destroy them would
be futile unless accomplished In WAYS that
would work the utmost mischief to the
enelIe pody polite. We can do nothing Of
good In the way of regulating and super-
vlsing these corporations until we fix clear
ly in our minds that we are not attaclxinp
the corporations, but endeavoring to do
away with any evil in them. We are NOT
hostile to them: we are merely Determines
that they shall be so handled AS to sub
serve the public good. We draw the line
against misconduct, not against wealth.
The capitalist who, alone or i'm coniInction
with ms Fellows, performs some great indus
trial feat by which he wins money is a
weildoeT, not a wrongdoer. provided only
ne works IN proper and legitimate lines.
we WISH 10 FAVOR such a man when he
uoes Wen. we wish to supervise and con-
trol MS actions only to prevent him from
doing ill. Publicity can do no harm 10 the
honest corporation; and we need NOT he
oVertenoer ABOUT sparing the dishonest cor
poration.
CARE MUS BE TAKEN.
In curbing and regulating the combina-
tons of capital which are or NAV become
injurious to the public, we must be careful
not to stop the great enterprises which have
l~egitimately reduced the cost of produc.
ton. not to abandon the place which ON
country has won in the leadership of the
international industrial world. not to strike
down wealth with the result of closing fac.
totries and mines, of turning the wage.
worker idle in the streets and leaving the
farmer without a market for what he
grows lnsistence upon the impossible
means delay in ACHE wing the possible ex.
actly as. on the other hand. the stubborn
defense alike OF what is good And what IL
bad In the existing system, the resolut,
effort 10 obstruct any attempt at better
ment, betrays blindness TO the hisfori,
truth that wise evolution is the sure sa To-
guard against revolution.
No more important subject can come he.
fore the Congress than this of the regula
cannot afford to sit supine on the plea tina
under our peculiar system of governman
We are helpless In the presence of the new
conditions, and unable to graphic with thep
or to cut out whatever of evil has arisen 4,
connection with them. The power of m,
Congress TO regulate interstate commerc,
is an absolute and unqualified gram an
without limitations other than those nra
scribed by the Constitution. The Congras
has constitutional authority TO make al
laws necessary and proper for executin,
this power, and / am satisfied that mi
power has not been exhausted by anv legis
lation now on the statute books. In Is evi
dent, therefore, that evils restrictive n
commercial freedom and entaiiing Restrain
upon national m fall within tn
regulative power of the Congress. and tha
a wise and reasonable law would be a nee
essary and proper exercise of congressiona
authority to the end that such evils shout
be eradicated.
CONGRESS HAS POWER.
believe that ~monopolies, unjust dis
ordinations. which prevent or cripple com
petition, fraudulent overcapitalization an,
! other evils In trust organizations aud prac