Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-06-21
Scenes at Great
Convention
Continued from Page %

~" vs.
because the laws themselves as in
terpreted by the courts do not reach
the difficulty. II the in~sufficiencies OF
existing laws can be remedied by
further legislation, it should be done.
The fact must be recognized however
that all Federal legislation on this
subject may fall short Of its purpose
because .of inherent obstacles and
also because Of the complex character
of our governmental system, which,
while making Federal authority su
preme within its sphere, has care
fully limited that sphere by metes
apFdNbounds that cannot be transgres,
~.
every election, the regulation Of
trusts have had the football of cam
paign oratory and the subject of many
i~nsincere declarations.
Our republican administration has
taken up the subject in a practical
sensible way as a business rather
than a political question, saying what
1t really meant, and doing what lay
at its hand to be done to accomplish
effective regulation. The principles
upon which the government proceed
ed were stated by the President in
his message Of December, 1902. He
said:
"a fundamental base Of civilization
is the i%nviolability Of property, but
this is in no wise inconsistent with the
right Of society to regulate the exer-
else of the artificial powers which It
confers upon the owner of property,
under the name of corporate francl-
ises, in such a way as 10 prevent the
misuse Of these powers. =
"We a 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 en~deayoring
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 subserye the public
good. we draw the line against mis-
conduct, nd against wealth. Z
In curbing and regulating the
combinations of capital which are or
may become injurious to the public
we must be careful not to sop the
great enterprises which have lesiti
matalxs 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 re-
suit IF closing factories and mines,
Of turning the wage-worker idle in
the streets and leaving the farmers
without a market for what he
grows.
II believe that m%onopolies, unjust
determinations, which prevent of
cripple composition, fraudulent over
capitalization, and other evils in trust
organizations 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 sew
eral States through regulations and
requirements operating directly upon
such commerc the Instrumental
ties thereof, and those ENGAGE there
In"
After long consideration, Congress
passed three practical statutes. on
the 18th Of February, 1903. an act to
expedite hearings in suits in enforce
ment of the Antitrust Act; on the
14th of February, 1908. the act Great
Ing a new department Of commerce
and labor with a bureau Of corpora
tions. having authority 10 ecure sys
Information regarding the or
ganization and operation OF corpora
lions engaged in interstate commerce.:
and on the 10Th of February, 1903, an
act enlarging the powers Of the in
Lerstate commerce commission and Of
the courts, TO deal with secret re
in transportation charges, which
are the chief means by which the
trusts crush out their small compet-
tors.
The attorney general has gone on
q the same practical way. not to talk
about the trusts. but to proceed
the trusts by law for their
regulation. In separate suits fourteen
the great railroads Of the country
lave been restrained BY injunction
rom giving illegal rebates to the fav.
,red shippers. who by means OF them
n lnQ1 n