The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-12-02
TRUSTS COME FIRST.
Has Had No Reason to Weaken in
His Position.

Has Had No Reason to Weaken in
His Position.
In my message to the present con-
gress al it's first session 1 discussed al
length the question of the regulation of
those big corporations commonly doing
an interstate business often with som-
tendency to monopoly, which are pop~s
ularly known as trusts. The experience
OF the past year has eInpha sized in nv
opinion, the desira ability of the steps 1
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 can not so well be achieved by
the individual acting alone. A funda-
mental base of civilization is the in
volatility of property; but this is in no
wise inconsistent with the right of So
ciety to regulate the exercise of the ar
tificlal 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 combina-
tions of corporations, should be man
aged under public regulation. Expe-
rience has shown that under our system
of government the necessary supervision.
can not be obtained by state action. It
must therefore be achieved by national
action Our aim is not to do away
with corpora tions: on the contrary
these big aggregations are an inevitable
DEVELOPMENT of modern industrialisn
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 can do nothing
of good in the way of regulating and
supervising these corporations until we
fix clearly in our minds that we are
not attacking the corporations but en-
deaVorinS to do away with any evil in
them. We are not hostile to them: we
are merely determined that they shalt
/ & fra 4f1c-caf It..
good We draw the line against mis-
conduct, not against wealth. The cap
italist who. alone or in conjunction with
his fellows, performs some great indus
trial feat by which he wins money is
a welldoer, not wrongdoer, provided
only he works in proper and legitimate
lines We wish to favor such man
when he does we'll We wish to s1lner-
wise and control his actions only to pre-.
vent him from doing i'll. Publicity can
/ do 70 harm to the honest corporation,
and we need not be overtender about
! sparing the dishonest corporation.
MUST BE CAREFUL.
In curbing and regulating the conbi
nations of capital which are or may be-
come injurious to the public we un11Sp
/ be careful not to stop the great enter
prlses 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 TIE 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 ne
! grows 1nsistence upon the impossible
means delay in achieving the possible,
exactly as, on the other hand, the stub
born defense alike of what is good and
what is bad in the existing system, the
resolute effort to obstruct any attempt
at 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 This
country can not afford to sit su.1ine on
the plea that under our peculiar system
of government we are helpless in the
presence of the new conditions. and un-
able to grapple with them or to cut out
whatever of evil has arisen in connec-
ton with them The power of the con-
gress to regulate interstate commerce Is
an absolute and unqualified grant, and
without limitations other than those
prescribed by the constitution. The
congress has constitutional authority TO
make all laws necessary and proper for
executing this power. and I am satisfied
that this power has not been exhausted
by any legislation now on the statute
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