River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1902-12-04
THE TRUSTS.
They Can BE Controlled Only by Ma
tiOnaI Action.

tiOnHl Action.
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 | 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 pow
er to act in combination for aims which
cannot well be achieved by the indi
vidual acting alone. A fundamental base
of civilization is the inviOlabillty of prop
erty; 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, un-
der the name of corporate franchises in
such a way as to prevent the misuse
of these powers. Corporations, and espe-
CialIy combinations of corporations,
should be managed under public regula-
ton. 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 aggreg cations are an inevitable
development of modern industrialism, 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 endeavOring to do away
with any evil in them. 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 conjunc-
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
vigrh tn Ial1
a man when he does we'll. We wish to
supervise and control his actions only to
pre'ent him from doing, i'll. Publicity
can do no harm to the honest corpora
ton; and we need not be overtender
about sparing the dishonest corporation.
Must Exercise Care.
In curbing and regulating the cDmbina
tons of capital which are or may become
injurious TO the public we must be careful
not to stop the great enterprises which
have legitimately reduced the cost of pro-
Guction, not to abarCon, the place which
our country has won in the leadership of
the international Industrial world not to
strike down wealth with the result of clos
ing factories and mines, of turning the
wage-worker idle in the streets and leaV-
ing the farmer without market for what
he grows. lnS!stence upon the impossible
means Celay in achieving the possible, eX-
aCJly as, on the other hand, the stubborn
defense alike of what is good and what is
bad in the existing system, the resolute eff
fort 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 be-
fore the congress than this of the regula-
tion of interstate business. This country
cannot afford TO sit supine 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 them
or to cut out whatever of evil has arisen in
connection with them. The power OF the
congress to regula tie interstate commerce
is absolute and unqualified grant, and
without limitations other than those pre-
has constitutional authority to make all
laws necessary and proper for executing
this power, and l am satisfied that this
power has not been exhausted by any leg
iSlation now on the statute hoCks. 1t is
evident, therefore, that evils restrictive of
commercial freedom entailing restraint
upon national commerce fall within the
regulative power of the congress, anG tina
a wise and reasonable law would be neces-
sary and proper exercise of congressional
authority TO the end that such evils should
be era6icateG.
I believe that monopoIies, unjust dis
ordinations, which prevent or cripple
competition, fraudulent overca pitalization.
and other evils in trust organizations and
practices which injuriously affect inter-
state trade can be prevented under the pow
er of the congress to regulate commerce
with foreign nations ana among the sew
eraI states through regulations and re-
quirementS operating directly upon such
commerce, the instrumentalities thereof
and those engaged therein.
earnestly recommend this subject to the
consideration of the congress with a view
to the passage of law reasonable in its
provisions and effective in its opera lions
upon which the questions car be finally
aGJudicated that now raise doubts as TO
the necessity of constitutional amendment