Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1904-06-23

OO0 for the Panama canal made last
month without causing the sllghtest
disturbance in finance, showed good
judgment and a careful consideration
OF the interests of business upon winch
our people may confidently rely.
-Four years ago the regulation by
law of the great corporate combina-
lions called trusts stood substantially
where it was when the Sherman anti
trust act Of 1890 was passed. Presl-
cent Cleveland, in his last message OF
december, 1896, had said:
Though congress has attempted to
deal with this matter by legislation,
the laws passed for that purpose thus
Tar nave proved ineffective, not be-
cause of any lack of disposition of at
tempt to enforce them, but simply be-
cause the laws themselves as inter-
preled by the courts do not reach the
ulfnculty. If the insufficiencies OF ex-
using laws can be remedied by fur-
tner legislation it should be done. me
TACT must be recognized however that
all federal legislation on this subject
may fall short of it's purpose because
OF inherent obstacles and also because
| SOAAApAOA Vial uSlCl Va WI o.
ernmental system, which, while maxi
ing federal authority supreme within
It's sphere, has carefully limited that
sphere by metes and bounds that can
not be transgressed.'
Regulation of Trusts.
AT every election. the regulation OF
trusts had been the football of cam
palgn oratory and the subject OF many
lnsincere declarations.
Our republican administration has
taken up the subject in a practical,
sensible way as business rather than
a political question, saying what it
really meant and doing what lay at its
hand to be done to accomplish effec-
tive regulation. The principles upon
which the government proceeded were
stated by the President in his message
of December 1902. He said:
"A fundamental base of civilization
is the inviolability of property; but
this is in no wise inconsistent with the
right of society to regulate the exer-
| fers upon the owners of property, I'M
| der the name of corporate franchises,
in such way as to prevent the misuse
OIL LneSe powers.
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 attack
ing 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 han
died as to subserve the public good.
We draw the line against misconduct,
| not against wealth. y =
In curling and regulating the
| combinations Of capital which are or
may become injurious to the public,
we must be careful not to stop the
great enterprises which have legiti-
mately reduced the cost of production
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 the wage worker idle in the
streets and leaving the farmer without
market for what he grows. IS
| Il believe that monopolies, unjust
discrimination, which prevent or Grip
pie competition, fraudulent over-capi-
! talization and other evils in trust or
CARNATIONS and practices which in
juriously affect interstate trade, can
be prevented under the power Of the
congress to regulate commerce with
! foreign nations and among the several
States through regulations and re-
quirements operating directly upon
such commerce. the instrumentalities
thereof, and of those engaged therein.
after long consideration, congress
passed three practical statutes on Feb.
ruary II, 1908, an act to expedite
hearings in suits in enforcement of the
antitrust act; on February IA, 1903,