The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1904-06-21

burden Of over one hundred .nilli1n DOL
lars; and the further accommodation of i
surplus which was constantly withdraw
ing the money OF the country from cir
culation has been prevented by the re
luction of taxation.
Between the Both of June, 1900, and
the first of June, 1904, our Treasury
Department collected in revenues tn.
enormous sum of $2,2O3,0O00O0 and ex,
pended S2,o2s,0O0,OOo, leaving us with a
surplus of over $l70,OO0,O00 after pay.
ing the $4,000, 900 for the Panama cana
md leaning $i,6O0,OoO to the st. Loui
Exposition. Excluding those two ex.
traordinary payments, which are invest
ments from past surplus and not ex.
penditures of current income, the surplus
for this year will be the reasonable,
amount Of about $l2,OOo,OOO.
Four years ago the regulation by law
Of the great corporate combination.
called trusts" stood substantially where
it was when the Sherman anti. trust ac.
II 1900 was passed. President Cleve.
land, in his last message OF December
1896. had said;
Though Congress has attempted L
deal with this matter by legislation, the
laws passed for that purpose thus far
have proved ineffective, not because Il
my lack of disposition or attempt to en-.
force them, but simply because the laws
themselves as interpreted by the court.
10 not reach the difficulty. If the in,
suiIieiencics of existing laws can b,
remedied by further legislation, it should
be done. The fact must be recognized
however, that all federal legislation OF
this subject may fall short of its pur
pose because Of inherent obstacles AM
also because Of the complex character Of
our governmental system, which, Will,
making federal authority supreme with
in its sphere, has carefully limited thai
sphere by metes and bounds that can
not be transgressed"
At every election, The regulation Of
trusts had been the football Of campaign
oratory and the subject of many insin
eere declarations.
Our Republican administration haf
taken up the subject in a practical. sen
5ible way, as business rather than
political question, saying what it reall,
meant, and doing what lay at its han,
TO be done to accomplish effective regu
lation. The principles upon which tn,
government proceeded were stated b.
the president in his message of Deem
br, 1902. II said:
"a fundamental base of civilization i
the inviolability Of property; but thi
IS in no wise inconsistent with the RICH
Of society to regulate the exercise of tn,
artificial powers which it eonfers upol
the owners Of property, under the nam
Of corporate franchises, in such way a
TO prevent the misuse of these pow
ers.
eve can do nothing of good in III,
way of regulating and supervising ihes
corporations until we fix clearly in on
minds that we are not attacking tn
! corporations, but endeavoring to d
away with any evil in Them. We ar
not hostile to them; we are merely De
termined that they shall be so handle
as to subserve the public good. W
draw the line against misconduct, no
against wealth.
in eurbing and regulating the combi
nations Of capital which are or may be
come injurious to the public we must b
careful not TO stop the great enterprise
which have legitimately reduced The cos
Of production, not to abandon the plae
which our country has won in the leader