New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1905-12-09

Fifty ninth Congress, cOngratulates
the people on the continued prosper
ity of the nation. The close relation
ship and mutual dependence upon
each other of capital and labor are
pointed out, and the message con-
tinues:
Corporations.
Yet while not merely admitting. but in
sisting upon this. IL is also true that
where there is no goveInmental restrain tai
or supervision some of the exceptional
men use their energies not in ways that
are for the common good, but In ways
which tell against this common good
the fortunes amassed through corporate
organization are now so large ana vest
such power in those that WED them. as
to make IL n matter of necessity to give
10 the sovereign-that is. TO the Govern
ment, which represents the people as
Wholesome effective power of supervis-
ion over their corporate use. In order 10
insure healthy social and industrial life,
every big corporation should be held re-
eponsible by and be accountable to. Some
sovereign strong enough to controi us
conduct am in no sense hostile to cor
porations. This is an age OF combination.
and any effort 80 prevent all combina-
ton will be not only useless, but in the
end vicious. because of the contempt for
law which the failure to enforce law In
evitably produces. We should moreover
recognize in cordial and ample fashion the
immense good effected by corporate
the wealth OF intellect. energy and fdel-
ity devoted to their service and there
fore normally to the service OF the PUBIC.
poraton has come to stay. just as the
trade union has come to stay. Each can
do and has done great good. Each should
be favored so long as 1t does good But
each should be sharply checked where 1t
acts against law and justice
The President shows the impossi-
bility of the individual states deal
ing successfully with corporation
greed, and the necessity of comforting
power upon the general government
even to the extent of proper amend
ment to the constitution. He says:
1t has been a misfortune that the
national laws on this subject have hither-
TO been of a negative or prohibitive rather
than an affirmative kind. and still more
aey could n pa bs sSasht
hibited. and have in part in their pro-
hibitions COMPOUNDED what should be
allowed and what should not be allowed.
II IL generally useless TO try to prohibit
all restraint on competition, whether this
restraint be reasonable or unreasonable:
generally hurtful. Events have shown
that II IL not possible adequately to
secure the enforcement Of any law OF this
Kind by incessant appeal to the courts.
The Department Of Justice has for the
last -four. years devoted more attention
iation than to anything else. Much has
been. accomplished; particularly marked
has been the moral effect OF the prosecu-
there win be a very Insufficient beneficial
result In the way of economic change.
The successful prosecution Of one device
to evade the law Immediately develops
another device to accomplish the same
purpose. What is needed IL not sweeping
bad. which may tend to restrict competi-
tion, but such adequate supervision and
regulation as will prevent any restriction
ment OF the publc-as well as such
supervision and regulation as will pre-,
vent other abuses IN no way connected
abuses, perhaps the chie: although by
no means the only one, Is overcapitaliza-
honest promotion-~becau Of the myriad
evils y brings In its train; for such over
capitalization often means an imitation
ceais the true relation Of the profit earned
20 the actual capital invested. and Il
creates burden Of interest payments
duction or In limitation Of wages; II
damages the small investor: discourages
uon While & All Is the
thickness and dishonesty which II implies
for harm to morals and worse than any
the debauchery OF politics and business
by great dishonest corporations - far
worse than any actual material evil they
ment obtains, In some manner which the
wisdom Of the Congress- may suggest.
snsssed in interstate Commerce that Is.
over the great majority Of the big cor.
porations--it will - impossible to deal
adequately with these evils.
am well aware OF tine difficulties OF
the legislation that am suggesting. and
Of the need Of temperate and cautious
ally protest against improper radical or
hasty action. The first thing to do is
to dea, with the great corporations en-
Bee. ! last, the Immediate and most
Concerned Is the enactment into te"i law Of
some scheme TO secure To the agents OF
the government such supervision and
railroads Of the country engaged in Inter-
state traffic as shall summnrily and
effectively prevent the imposition Of I'M
Just or unreasonable rates. 1t must in
in every shape and form This power to
lie business asn like World a. . a%ar b
cised with moderation, caution and self
restraint but 1t should exist, so that 1t
can be effectively exercised when the
The first consideration to be kept in
mind Is that the power. should be affirm
alive and should be given to some adj
II given to the present Interstate Com
mercc commission or TO reorganized
COMMISSION,
commission should he made unequivocaliy |
administrative. Il do not believe in the |
government interfering with private bust
believe IN the the government undertaking Ing
any work which can with propriety be |
LEFT IN private hands But a, neither do
overseeing any work when IL becomes |
evident that abuses are sure to obtain |
supervision. Il IS not my browne 70
indicate the cxnct terms Of the law which |
should be enacted; but cali the attention |
ditions with which II Is desirable to deal. |
In my Judgment the most important pro- |
vision which such law should contain |
II that comforting upon some competent |
administrative body the power to decide. |
upon. the case being brought before II, |
read l. reasonable and lust. and II Il It's il
found to be unreasonable and unjust. |
then. after full investigation OF the COM |
beyond which II shall not be lawful to 20 |
the maximum reasonable rate. as II Is |
commonly called--this decision to go into /
obtain from thence onward. subject to |
review by the courts. II sometimes hap
pens AZ present not that 2 rate Is too |
too low a rate In such case the commits
sion would have the right to nx this |
slready established minim.m rate as
81 the commission 10 cure railroad com
minimum rstes. I call your attention 10 |
the fact that my proposai 10 not to give |
the commission power to initiate or |
originate rates generally. but 10 regulate |
! rate already fixed or originated by the |
9ation a heavy penalty should be ex |
acted from. any corporation which fails
20 respect an order Of the commission. i l
regard this power to establish maximum
rate ~ being essential to any scheme of 1
real reform In the matter Of railway 1
regulation. The first necessity u to Sc