The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-12-17
PRESIDENTS MESSAGE.

&ress. It's principal features are as fol.
lows:
The country is to be congratulated
on the amount of substantial achieve.
ment which has marked the past year
both as regards our foreign and as re.
CARDS our domestic policy.
With a nation as with q man the
most important things are those of the
household, and therefore the country
ID especially to be congratulated or
what has been accomplished in the di.
rection of providing for the exercise of
supervision over the great corporations
and combinations of corporations en-.
gagged in interstate commerce. The
congress has created the department
of commerce and labor, including the
bureau of corporations, with for the
6rst time authority to secure proper
publicity of such proceedings of these
great corporations as the public has
the right to know. 1t has provided for
the expediting of suits for the enforce
ment Of the federal antitrust law, and
by another law it has secured equal
treatment to all producers in the trans.
FNA S$ANioA VI INCL SOOIlS, Illus
long stride forward in making effec
tive the work of the interstate COM
merce commission.
The preliminary work of the bureau
OF corporations in the department of
labor has shown the wisdom of it's ere
alton. Publicity in corporate affairs
Will tend to do away with ignorance
and will afford facts upon which intel
iigent action may be taken. Systemat
&c, intelligent Investigation is already
developing facts the knowledge of
which is essential to a right under
standing of the needs and duties of
the business world. The corporation
which is honestly aRd fairly organ
tied, whose managers in the conduct
of its business recognize their obliga-
ton to deal squarely with their stock
holders, their competitors and the pub
aic, has nothing to fear from such SUI
pervIslon. The purpose of this bureau
Is not to embarrass or assail legitimate
business, but to aid in bringing about
better industrial condition. condi-
ton under which there shall be obedi-
ence to law and recognition of public
obligation by all corporations, great or
small. The department of commerce
and labor will be not only the clearing
house for information regarding the
business transactions of the nation, but
the executive arm of the government
to aid in strengthening our domestic
and foreign markets, in perfecting our
transportation facilities, in building up
our merchant marine, in preventing the
entrance of undesirable immigrants, in
improving commercial and industrial
conditions and in bringing together on
common ground those necessary part
ners in industrial progress-capital and
labor.
Capital and Labor.
The consistent policy of the national
government, so far as it has the power,
Is to hold in check the INSCRIPTIONS
man, whether employer or employee, but
to refuse to weaken individual initia-
tive or to hamper or cramp the indus
trial development of the country. We
recognize that this is an era of fedora.
ton and combination, in which great
capitalistic corporations and labor I'M
ions have become factors of. tremendous
Importance in all Industrial centers.
Hearty recognition is given the far
reaching, beneficent work which has
been accomplished through both cor
porations and unions, and the line as
between different corporations, as be-
tween different unions, is drawn as it
is between different individuals-that
is, it is drawn on conduct, the effort
being to treat both organized capital
and organized labor alike, asking moth
ing save that the interest of each shall
be brought into harmony with the in
terest of the general public and that
the conduct of each shall conform to
the fundamental rules of obedience to
law, of individual freedom and of jus.
tice and fair dealing toward all. When
ever either corporation, labor union or
individual disregards the law or acts
in spirit of arbitrary and tyrannous
Interference with the rights of others,
whether corporations or individuals,
then where the federal government has
jurisdiction it will see to it that the
slightest heed to the position or power
OF the corporation, the union or the in.
diyidual, but only to one vital fact
that is, the question whether or not
the conduct Of the individual or aggre-
gate of individuals is in accordance
with the law of the land. Every man
must be guaranteed his liberty and his
right to do as he likes with his prop
erty or his labor SO long as he does
not infringe the rights of others.
Government Receipts and Expend-
lures.
From all sources, exclusive of the
postal service, the receipts of the gov
eminent for the last fiscal year aggre-
gated $500, 396, 674. The expenditures
for the same period were $500, 099, 0o7,
the surplus for the fiscal year being
$54, 297, 667. The indications are that
the surplus for the present fiscal year
will be very small, if indeed there be
any surplus. From July to November
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