The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1902-12-04
PRESIDENTS 5 MESSAGE,
70 the Senate and House Of Representa-

the laws under which We work have been
instrumental In creating the conditions
which made it possible, and by unwise Leg
sslation it would be easy enough to destroy
1t. There will undoubtedly be periods of
depression. The wave will recedc, but the
tide VIII advance. This nation Is seated
On continent fanked by two great
oceaEs. 1t is composed Of men the de-
scendantS Of pioneers OF, In sense. pio-
AeeTs theGlselves-cS n1ea winnowed out
from among the nations of the old world
by the energy, boidness and love of ad-
Venture found in their own eager hearts.
Such a nation so placed will surely wrest
success from fortune.
AS people We have played d large part
in the world, and we arc bent upon max
ing our future even larger than the past.
IA particular the events Of the last four
years have definitely decided that for woe
or Tor veal cur place must be great among
the nations We may either fail greatly
or succeed greatly, but we cannot avoid
the endeavor from which either great
u we would we cannot play small part.
II we should try, ali that would follow
would be shat We should play large part
kGnoSly and shameful!y.
But our people. the sons ct the men or
thefcivil war. the sons OF the men who
had iron in their blood, rejoice IN the
present ard face the future high OF heart
and resolute Of will. Ours is not the
ours is the gospel of hope and OF tri.
nmphant enoeavor. We do not shrink
IRON the struggle before us. There are
many problems for US to race az tne oGs-
set of the twentieth century-graVe prop
lens abroad sead still grave" at home-ous
we know that We can sc e them, ana
solve thera well, provided only that we
bring to the solution the qualities of head
and heart which were shown by the men
who IN the days Of Washington founded
this government and IN the days or Lin
cQln preserved It,
No country has ever occupied higher
plane OF material we'll being than ours at
the present moment This we'll being Is
due ONO sudden or accidental causes. but
country for over a centlrSi to bur laws,
our sustained and centihuous policies;
above: an, 70 the high Individual ayerage
beensaon by those who. have taken the
aeadin this phenomenEl industrial devel-
opnaea1 and most Of these fortunes have
eidentio astion Which @ has benefited the
community SIS whole Never before has
raaterial well being been 50 widely diff
agstsgate these fortunes are small in
6eedsMhen COMPARED to the wealth OF the
betsss Of than they have ever been be-
fore. The Insurance companies which
are rracticslly mutual benefit seciet;es-
means represent aeeumGlations Of capi-
tai which are aIeong the largest in this
Country. There are more deposits in the
more well paid wageworkers in this coun-
try rot than ever before in our history.
Of cbErse when the conditions have IA
good they have also: favored somewhat
the growth Of what was evil. 1t is emil
nently necessary that we should endeavor
SO s s s ops let us US no fsHP IL . as
ep so5d The eyils are Tea and
Sa Ss of Or sa ese
but OF prosperity. Of the progress Of our
gigantie Industrial development. This in
but side BY side with it should go such
progressive regulation as will diminish
the evils. We should fail in our duty if
we did not try to remedy the evils, but we
!, ly, With practical common sense as well
as resolution, separating the good from
the bad and holding on to the former
while sendeavoring to get rid OF the latter
In my message to the present congress
at it's first session / discussed at length
the question of the regulation or those
big corporations commonly doing an IN
terstate business, often with some tenden-
cy to monopoly, which are popularity
known as trusts. eThe experience OF the
past year has emphasized. in my opinion
the desrabi,ity of the steps / then pro-
posed A fund damental requisite of social
d
energy and excellence. but this is in no.
.wises inconsistent with power to act In
combination for aims which cannot so
well be achieved by the individual acting
alone A fundamental base Of civilization
Is the inviolability Of property; but this Is
in newise 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 cor
porate franchises in such way as to
Sha ,,{c,s 09
porations. and especially combinations Of
corporations. should be managed under
public regulation Experience has shown
that under our system Of government the
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 indus
trialisrn. and the effort to destroy them
would be futile unless accomplished in
ways that would work the utmost mis-
chief to the entire body polite. We can
do nothing Of good in she way OF reSulat-
ing and supervising these corporations
untilSwe fix clearly IN cur minds that we
are cot attacking the corporations. but
endeaYoring to do away with any evil m
therns We are not hostile to them We
are merely determined that they shall be
so handled as TO Subserve the public good.
We draw the line against misconduct. not
against wealth. The capitalist who. alone
or in conjunction with his fellows. per-
forms some great industrial feat by which
he wins money is welldoer. not wrong
doer. provided. only he works In proper
and legitimate lines. We wish to favor
such man when he does well. We wish
to supervise ard control his actions only
to prevent him from doing Ill. Publicity
can do no harm to the honest corporation,
and we need not be overte@zer about
sparing the dishonest corporation.
In curbing and regulating the combina-
tions OF capital which are or may become
injurious to the public we must be care
full not to stop the great enterprises which
have fegitimately reduced the cost Of pro-
duction, not TO abandon the place which
our country has won in the leadership OF
the International industrial world. not to
strike down wealth with the result Of
closing factories and mines. OF turning
leaving the farmer without market for
what he grows. InSistence upon the i'm
possible means delay In achieving the pos
sible; exactly as. on the ether mana. Inc tne
end what Is bad in the existing system,
the resolute effort to obstruct any at
tempt at betterment, betrays blindness to
the sure safeguard against revolution.
No more Important subject can come
before the congress than this Of the regu-
cannot afford to sit supine on the plea
that under our peculiar system OF govern.
Inent we are helpless In the presence OF
the new conditions and unable to grappie
with them or to cut out whatever of I cyl
has arisen in connection with them. The'
power of the congress to regulate inter-
state commerce is an absolute ana .un. nn,
other than those prescribed by the consd,
tuition. The congress has constitutional
authority to make all laws necessary and
proper for executing this power, and / am
satisfied that this power has not been ex-
hausted by any legislation nov, on the
statute books. It Is evident, therefore.
that evils restrictive Of commercial free.
dom and entaillng restraint upon national
commerce fall within the regulatlye pow,
er of the congress and that wise and
reasonable law would be necessary and
proper exercise Of congressional authority
to the end that such evils should be erad-
tcated.
I believe that monopolies. unjust dig
examinations, which prevent or cripple
competition, fraudulent overcapitalizatfon
and other evils in trust organizations and
practices which injuriously affect inter-
state trade can be prevented under the
power Of the congress to regulate COM
1nerce with foreign nations and among
tAe, several states through regulations