Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-06
TIE PRESIDENTS MESSAGE.

ident points out that the policy he urges
has become necessity by reason of
the great fortunes amassed through cor
pOrate organization and the power
vested in those who WELD these for
tunes. He recognizes that this is an
age of combination and that any effort
to prevent all combination would be
both useless and vicious, but they must
be subject to some sovereign authority
and control and this can be exercised
only by the general government, repre-
senting the whole people. "Our steady
aim should be. by legislation, cautiously
and carefully undertaken, but reso-
lutely pefsevered in, to assert the SOW
ereignty of the national government by
affirmative action" The president cites
overcapitalization as one of the abuses
to. be prevented. saying that generally
this is itself the result of dishonest pro-
motion. He believes that congress
possesses authority to provide for the
desired supervision and regulation, but
amendment of the constitution.
In regard to railway rate regulation.
the president renews the recommended
ton of his message Of last year with
wise impairs or weakens the position
he then declared. He urged a year ago
that rate fixed by the commission
should go into immediate effect and stay
in effect unless and until the court Of
review reverses it,. His present sug-
| gestion Is that when a maximum rea-
sonable rate is prescribed by the COM
mission or other administrative body it
shall go into effect within reasonable
| time and obtain from thence onward,
subject to review by the courts. While
this is in the nature of a compromise
it is very far from being a relinquish-
ment on the part OF the president of the
vital principle for which he contends
namely, that an administrative body
created by congress must be given the
power, when a railway rate has upon
complaint and after investigation been
adjudged to be unreasonable, shall de-
clare a reasonable rate. subject to re-
vision by the courts. The bill framed
by the Interstate Commerce commission
and which is understood to be in a gen
eral way approved by the president, pro
vides that the orders of the commission
shall be effective within thirty days
from the time they are made, subject
to judicial review upon proceedings
taken within sixty days. Assuming
this measure, in drafting which it IL
said Attorney General Moody and Sec
rotary Taft were consulted. to repre-
sent the presidents views, thirty days
is regarded as reasonable time within
which the orders OF the commission Of
other administrative body should take
effect. The president is careful to have
II understood that he does not propose
to give the commission power to initiate
or originate rates generally, "but t.
regulate a rate already fixed or orig
mated by the roads, upon complaint
and after investigation" The policy
urged does not contemplate a sweep
ing and arbitrary regulation of rates
but simply the correction of those tina
are found to be unreasonable. 1t wOul(
seem that no railroad disposed to dea
fairly and justly with the public could
object to this, A very Important sug
gestlon in the message is that thert
should be publicity Of the accounts o.
common carriers, that all books or mem
oranda of the common carriers SHOULD
be open to the inspection Of the govern
ment, for 'only in this way can viola
lions or evasiOns OF the law be surel!
detected" OF course the railroads viii
vigorously fight this proposition-whicl
1t may be remarked is embraced in tn
bill framed by the commission-but tn
soundness of 1t is unquestionable.
On the question of national regula
ton of insurance companies, the presl
dent points out its great Importance
which has been emphasized by recen
events. This matter will come befor
congress during the session and doubt
less will be thoroughly discussed. Tn
president is strongly of the opinion tina
there should be national supervision o
the insurance business and in this h
has the support of a very large part o
the public and practically the entir
: body of pOllcyholders.
/ The relations OF capital and labor r.
: ceive attention in the message and til
t we'll known views of Mr. Roosevelt
repeatedly avOwed. are again stated
The cardinal principle is thus declared
individual capitalist and individus
+ wage worker, corporation and unior
e are alike entitled to the protection @
the law and must alike obey the law.
' What the president says on this sui
ject merits the/careful attention of bot
employers and employed. As to rev,
nues the president is clearly not i
favor of any present readjustment q
! the tariff, on the ground that it is NJ
!, now needed. He urges, however, thl
unless expenditures can be kept With
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