Waterbury evening Democrat., 1903-12-07
PRESIDENTS MESSAGE,
Continued from Page 1.)

Cts care
 In enacting the laws above enumeEat Dd the congress proceeded on sane and conservative lines. Nothing revolu- eionary was attempted. But a common sense and successful effort was made Sn the direction of seeing that corpora Ikions are so handled as to subserve the public good. The legislation was mod crate. It was characterized through out by the idea that we were not at- . 1aciing corpora tions, but endeavoring to provide for doing away with any evil in them: that we drew. the line against misconduct, not against wealth, gladly recognizing the great good done by the capitalist who alone or in con Junction with his fellows does his work along proper and legitimate lines. The purpose of the legislation, which pur- pose will undoubtedly be fulfilled, was to favor such a man when he does well and to supervise his action only to prevent him from doing Ill. Pub Eicity can do no harm to the honest corporation. The only corporation that has cause to dread it is the corporation (which shrinks from the light, and about the welfare of such corporations we need not be oversensitive. The work of the department of commerce and labor has been conditioned upon lkhis theory, of securing fair treatment alike for labor and for capital
 CAPITAL AND LABOR.
 The consistent policy of the national government, so far as it has the power, Us to hold in check the interruptions sknan, whether employer or employee, shut to refuse to weaken individual 2aBitiative or to hamper or cramp the tBndustrial development of the country. i've recognize that this is an era of Federation and combination, in which great capitalistic corpora tions and la Dor unions have become factors of tre- lmendoHs importance in all industrial ikanters. Hearty recognition is given sEhe far reaching, benehcent work which has been accomplished through both corporations and unions, and the line as between different corporations, lhs between different unions, is drawn las it is between different individuals Enat is, it is drawn on conduct-the ef- fort being to treat both organized capi- sEal and organized labor alike, asking ghctning save that the interest of each Ahall be brought into harmony with the interest of the general public, and that I Ehe conduct of each shall conform to The Fundamental rules of obedience to Jaw, of individual freedom and of jus- leice and fair dealing toward all.
 Whenever either corporation, labor sanion or individual disregards the law Ihr acts in a spirit of arbitrary and yuannous interference with the rights of others, whether corporations or fndi- i. ernment has Jurisdiction it will see to 1t that the misconduct is stopped, pay ing not the slightest heed to the posi- ton or power of the corporation, the union or the individual, but only to one vital fact-that is, the question wheth- CT or not the conduct of the individual or aggregate of individuals is in ac- cordance with the law of the land Hv- cry man must be guaranteed his nher- ty and his right to do as he likes with his property or his labor 30 long as he does not infringe the rights of others. No man is above the law, and no man is below 1t, nor do we ask any mans permission when we require him to obey it. Obedience to the law is de- manded as right not asked as favor
 We have cause as a nation to be Ehankful for the steps that have been so successfully taken to put these prin- rdples into effect. The progress has been by evolution, not by revolution Nothing radical has been done; the ac- Eion has been both moderate and reso- sute; therefore the work will stand Ehere shall be no backward step. If an the working of the laws 1t proves IS1esirable that they shall at any point !be expanded or amplifed, the amend imant can be made as it's desirability is shown. Meanwhile they are being ad- ministered with Judgment, but with Ensistenee upon obedience to them, and tkheir need has been emphasized in sig hal fashion by the events of the past sgear.
 NaOVERNMENT RECEIPTS AND FIX
 PENDITURES
 From all sources, exclusive of the postal service, the receipts of the gov ernment for the last fiscal year aggre- gated $560, ,396, ,674. The expenditures for the same period were $5O6, ,099, ,OO7, khe surplus for the fiscal year being S54, ,207, ,66T. The indications are that khe surplus for the present fiscal year will be very small if indeed there be hny surplus. From July to November Ehe receipts from customs were approx Emately $9,0oo,000 less than the receipts from the same source for a correspond Ing portion of last year. Should this necrease continue at the same ratio Throughout the fiscal year the surplus would be reduced by approximately E80,000,000. Should the revenue from customs suffer much further decrease during the fiscal year the surplus would vanish. A large surplus is certainly undesirable. Two years ago the war taxes were taken off with the express Entention of equalizing the government al receipts and expenditures, and though the first year thereafter still ssEaorurnd c,,rraia,s ,anurr cnnr,ac Iilrolx