The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-12-03
PRESIDENT ROOSEVEk1'S
MESSAGE TO CONGRESS-
He Recommends the Passage Of Law to
Eradicate Whatever Evil has Arisen in
Connection With Trusts.
AMEND THE CONSTITUTION IF NEED Be
and holding on to the former while en-
deavoring to get rid of the latter.
REGULATION OF TRUSTS

In my message to the present Congress
at it's first session / discussed at length
the question of the regulation of those
big corporations commonly doing an in
terstate business, often with some ten
dency to monopoly, which are popularity
known as trusts. The experience of the
past year has emphasized, in my opin-
ion. the desirability of the steps l then
proposed. A fundamental requisite of
social efficiency 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
cannot so well be achieved by the in
dividual acting alone. A fundamental
base of civilization is the inviolability
of property: but this is in no wise in
consistent 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
franchise, in such a way as to prevent
the misuse of these powers. Corpora
tions, and especially combinations of
corporations, should be managed under
public regulation. Experience has shown
that under our system of government the
necessary supervision cannot be obtained
by State action. 1t must therefore be
achieved by national action. Our aim
is not to do away with corporations; on
the contrary, these big aggreGations are
an inevitable development of modern in
dustrialism, and the effort to destroy
them would be futile unless accomplish
ed in ways that would work the utmost
mischief to the entire body polite. we
can do nothing of good in the way oil
regulating and supervising these cor
poratiops until We fix clearly in our
minds that we are not attacking the cor
porations, but endeaVoring to 90 away
with any evil In them. We are not nos
title 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. The capitalist who, alone or in
conjunction with his fellows, performs
some great industrial feat by which ne
wins; money is well-doer, not wrong
doer. provided only he works in proper
and legitimate lines We wish TO taVor
such a man when he does Well, we wish
TO SUPERVISE and control his actions only
TO prevent him from doing Ill. fup-
Hcitv can do no harm to the honest cor
noration, and we need not be oVertender
about sparing the dishonest corporation
In curbing and regulating the COM
binations of capital which are or may
become injurious to the public we must
nc careful not to stop the great enler-
prises which have legitimately reduced
the cost of production, not to apahdoh
the place which our country mas won
in tho leadership of the international IN
duetrial world. not to strike down wealth
with the result of closing factories anu
mines. of turning the wage-WorKer iuie
in tho streets and leaving the farmer
without market for what ne
crows Insistence upon the lmposslpie
means delay in achieving the possioie'
exactlv as. on the other hand, the STUB
horn defense alike of what is good ana
what ie bad in the existing system, the
resolute effort to obstruct any attenlp'
Of betterment. betrays blindness to the
historic truth that wise evolution is the
sure safeguard against revolution.
No more important subject can come
before the Congress than this OF the
regulation of interstate business Inns
country can not afford to sit supine Oh
the plea that under our peculiar system
of government we are helpless III inc
presence of the new conditions. anu UNI
able to grapple with them or toocul OUT
whatever of evil has arisen jim conhec-
ton with them The power OF the CON
press to regulate interstate commerce
is an absolute and unqualified grant, ana
without limitations other than those pre-
scribed by the Constitution. The Con-
gress has constitutional authority 10
make all laws necessary and proper for
executing this power, and | am satisfied
that this power has not been exhausted
by any legislation now on the statute
books. 1t is evident, therefore. that
OWLS restrictive of commercial freedom
and entailing restraint upon national
commerce fall within the regulative pow
or of the Congress, and that wise ana
reasonable law would be necessary ana
proper exercise of Congressional authority
to the end that such evils should be
cradicated.
| believe that monopolies, unjust dis
examinations, which prevent or cripple
competition. fraudulent overcapltallza-
ton. and other evils in trust organiza-
tions and practices which injuriously
affect interstate trade can be prevented
under the power of the Congress to
regulate commerce with foreign nations
and among the several States through
regulations and requirements operating
directly upon such commerce, the instru-
mcntalitics thereof, and those engaged
therein
| earnestly recommend this subject tic
the consideration of the Congress with
n view to the passage of law reason
able in its provisions and effective III
its operations, upon which the questions
can be finally adjudcated that now raise
doubts as TO tho necessity of constitu-
tional amendment. If it prove impoasl-
bic to accomplish tho purposes above SCI
forth by such q law. then. assuredly, We
should not shrink from amending the
Constitution 50 as 10 secure beyond per
adventure tho power sought.
The Congress has not heretofore nade
any appropriation for the better enforce
nient of the anti trust law as il nov
stands. Very much has been done b.
the Department of Justice in securing