The state herald., 1905-12-08

| lll vi lUt lldlibIlt ! HN 'lNSN i''''''f'
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, hut In
sisting upon this 1t Is also tue that
where there is no governmental restrain,
or supervision some OF the cNccp'innhi
men use their energies not IN ways lhal
are for the common good, hut IN Ways
which tell against this common good
The fortunes amasscd thrnuEh corporate
organization are now SO latpc aud vest
such power in those that WED them, as
to make u n matter of necessity 10 give
TO the sovereign that is. to the Govern
ment, which represents the people us q
whole some effective power of surerNiS
ion over their corporate use. In order To
insure healthy social and Industrial nc
every big corporation should be hcld re-
! sponslblc by and be- accountable to. some
sovereign strouE enough tn conttnl lts
conduct. ] am In no sense hostile To cor
pofntlOnS. This Is nm ago of combination.
and any effort to prevent all combinh
lion VIII be not only useless. hut In the
end vicious, because Of the contempt ioi
laN which The failure 10 "ninrcc law III
eviiably produces We should moreover,
recognize in cordial and ample fashion the
immense good effected hy corporate
agencies In n country such rs ours. and
the wealth Of Intellect. energy. aud hdrl
| ity devoted to their service aud there
fore normally to the sorviro of the public,
by thcir officers aud directors. Tho cor
pOrntiou has come 10 stay. just ms the
trade union has com" To stay Each rln
do and hIs done ctrIt good Ench should
he favored 50 long rs n docs good. lIui
each should hc shuruly uhr,krd Where II
acts against law urd iusilr"
The President shows tho 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 lie says;
1t has been a misfortune that the
national laws, an THIS subject have hithcI
10 been Of Il negative OF ptuhthitiNr rather
than an affirmative Kind aui still more
that they have In pant sought to piu-
hint what could not ho oncctiyclS pto.
hibitcd. and have In part ia their rtn.
lihiiluUS rUufpurlVd what should I've
allowed and what should not be allowed
1t IS generally usvlcss io try tu piuliliil
all restraint ON competition. whether Tits
restraint be reasonable ar unreasonable. /.
ana Mhcr" II Is not useless u Is
generally huttrul Events hnN" shown
that II i not possible adequately Ia
secure the enforcement "t ANY law "t this
KIND by inrrSSnui appeal lu the courts
The ncparim"ut or Justice has for the
last four years devoted more attention
10 the enforcement at The unti itust lrgis'
lhtinn than 10 anything else Much lHs
been accomplished, rnfticulAfly marked
has been ih" moral effect uf the prcs~tus
| tiong. hut 1t IS Increasingly evident ihJt
thtt" Mill lie n very insufficient h"u"hclal
result Ia tue Way Of economic change
The successful prosecution of one device
60 cvade the law Immediately develops
another device To accomplish the ssifne
purpose; What is needed Is not sweeping
prohibition oi every arrangement, good oi
bad, which may tend To- restrict rompci.
ton, hut such adequate suIsfN isluu and
regulation as will prevent any restriction
of ktlnsF IN hR dRtIla
ment of the puhiic-as well as such
supervision and r"gu'3tion as stll pre-
vent other abuses In no way connected
| with restriction of competition, OF these
abuses perhaps the chic:. although by
40 means the only one. Is overCapiGtliza-
ttnn-gcucially Itself the result of dis
honest promotion -bccausesof the mstmd
evils II brings In It's train, for such over
capitalization often means m Initiation
that invites business panic. II always cnn-
ceals the true relation of the pront Gained
To TIN actual capital Invested aud ~
creates burden Of iniercst payments
which " n fertile cause OF improper
duciIun or la limitation Of wages. u
damages th" small Investor, diScnuiuges
thrlit. and cneuuinEcs gniuhline and spec
ullilnn. while perhaps Nuist of al II The
thickness aud dishonesty which Il implies
for harm 10 morals and wofse than any
pnssihle harm tu ntii"tial Interests. nnd
the dchaurh-ry of politics aud business
by great dishonest corporations l. faT
worse Than any actual material .Nil The,
do the puhlic. l'niil the national govern
wisdom uf the congress may suggr,t
proper control over The hlg curpafntluns
ensrs.d IN Interstate commerce that II
over IN" gt"at maluIity of the his cot
pofaiions-it will d. impossible to deaf
adequately with ihcsr evils
The INST consideration to hc L~pt in
mind Is that the powrt should he affirm
uilNc aud should he given to some All
ministritit- tudy created hy thr Congress
II given Ia The present Interstate Com
,n.tce c"mml-slon or TO teutganiS"d
Ia NaFNHNa
commission should b" made unequiNocillN
administrative. I do not believe "a the
government Interfering with private husi-
ness NOR" than T. necessary, ! do not
believe In the government undertaking
nnN work which ran with pTppIlgty Ice
lett In private hands Hut neither do
hclirN" IN IN" government rinchiug fron
overseeing any work When II b~oomes
evident that abuses are suite 10 obtain
therein unless there IL governmental
supervision. II Il not mN province 10
Indicate the exact terms 81 the Law nhlsh
should be enacted. but cHii The attention
of the Congress % certain existing gsu
ditions with whlsh il 4. d.siIgbis i., .i,.tt
ln my Judgment the most important pfo
vision which such law should contain
administrative body Inc powrr 10 lr,i.iS
upon the cas-" being brought before n
whether given tate prescribed ht a nail
road IL reasonable auh mst ard " IL l.
found TO be unreasonable ana UNJUST
then. after tull Investigation of the roin-
plaints 20 prescribe The limit uf nie
tlNNfiN WHICH " NiNi Nltt hN ANMflN To rN
the maximum reasonable tate. nE II Is
commonly cal rd this decision tn gu into
effect within reasonable time and 10
obtain from thence onNnri, subject 10
review hy fhc gutirts ID sometime nan
pens at present, not that . tatn b. too
high but that d favored shipper l. glycn
sion would hnts the right 10 n, ihlt
already rstab'lal-d minimum nlo a.
lhg mnNlmum and u Nonl. need
IN th. rnfn,oisslst to ruTT tallf,std ann
rantss ~ tho Ishsfirc 81 uirinE Improper
Inini,nun tai.s. cun ygur Alteration To
~" iu't ihh' nF proposal H moi iu civ"
W." commission roMgf :" iuli@i" ~
."riFiurt" fntss r-us-rBiiy. tui iu regulate
. iair already nsrd ~ originated iN ihc
fo1fs ut'uu rompiNiui and nn~t inNssti.
rHti1u A heavy i-nHiN should be- rx
acted Hlm nuk corporation which falls
tn irausi ar md"r ~ iho oenmissiun
rate Ha iUg rsssutid tn ntt rghrwy Of
frii tri"tul in tho matter 1f hallway
tsrulltl"u The msi U'Oysaiiy in ~ -
rummlr-Inn rbrrc T. ltiis uag ~ Touch.
inE die SUBJECT 81 all
Cnniiuuint. the President earnestly
dltclnims ans spirit of hostility 10
the railroads. pointing out the icnc'
hA to be- dclitcd by the faltdcaius
roads IN the oIrn handed admlniF,i
tlon ~ inetlco. In this both the hcu
cst railroad man aud tho honest ship
per alike would d. benefited Endins
the subject. the rtCfldent says.
The question ~ transportation iira nj
the root ~ h1 Industrial success, md tho
revolution In ttAuapnftHilnu which has
taken place dnfipH ihp iaat halt ountur,
has bc0n the meet important factor IN the
EfnNth ~ the nov industrial conditions
Most TmtihtltaiN NU du not Wish ~ see
the man nf Rfpit thlnnta irfured the ~
Nutd for his ihlsnts. hilil irss dc sn Nish
70 scg him pennll,rli hui ". 10 drsits. %