The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1905-12-08

The people vi 'H0 '"ii'ilueu plosper-
ity Of the nation. T. use relation
shin and mutual q, .4ence upon
oarb other of capital and labor are
ooipted out, and the message con-
lDues:
Corporations.
70, while not merely admitting. but in
.sting upon this, il IS also tue that
,bore there is no governmental restraint
W snneryision some Of the exceptional
.nsn use their energies not In ways that
10 for the common good. but in WAYS
mich tell against this common good.
rrhe fortunes amaSsrd through corporate
argani2ation are now so large and vest
.nph mower in those that WELD them, as
N make it a matter of necessity to give
N the sOvereign-that is, TO the Govern
mont which represents the people as
~hole-some effective power of Supervis-
inn over their corporate use. In order to
;neure a healthy social and industrial life,
every big corporation should be held re-
snonSible by, and be accountable to, some
sovereign strong enough to control its
conduct ! am in no sense hostile to cor
noratOns. This is an age of combination.
and any effort To prevent all combina-
md vicious. becaLSe of the contempt for
law which the failure to enforce law in
eyitably produces We should, moreover
recognize in cordial and ample fashion the
immense good effected by corporate
agencies in a country such as ours, and
me wealth OF intellect. energy. and tidel-
Inv devoted to their service and there
fore normally TO the service of the public
BY heir officers and directors. The cor
poratOn has come to stay. just as the
iEada union has come to stay. Each can
do and has done great good. Each should
he favored so long as il does good BIT
each should be sharply checked where it
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:
II has been a misfortune that the
national laws on this subject have hither-
10 been of a negative or prOhibitive rather
than an affirmative kind, and still more
that they have IN part sought to pro-
hibited, and have in part in their pro-
hlbiti0ns COMPOUNDED what should be
allowed and what should not be allowed
II Is generally useless to try to prohibit
all restraint on competition, whether this
restraint be reasonable or unreasonable:
and where 1t is not useless it Is
generally hurtful Events have shown
that it Is not possible adequately to
secure the enforcement Of any law of this
kind by incessaut appeal to the courts
The Department of Justice has for the
last four years devoted more attention
10 the enforcement Of the antitrust iegiS-
lation than to anything else. Much has
oeen, accomplished; particularly marked
has been the moral effect of the prosecu
nons; but it is increasingly evident that
mere Will be very insufficient beneficial
result in the way of economic change.
the successful prosecution OF one device
70 eVade the law Immediately develops
an0Iher device to accomplish the same
purpose. What Is needed is not sweeping
Pehieiti0n OF every arrangement, good or
oad, which may tend to restrict cOmpeti-
uel, out such adequate supervision and
regulation as will prevent any restriction
o. competition from being to the detri-
ment OF the puhlic-as we'll as such
supervision and regulation as will pre-
vent other abuses in no way connected
with restriction of competition. OF these
ABUSES, perhaps the CHIEF. although by
no means the only one. is overcapitaliZa
loA-gehefalIy itself the result of dis
honest romotlon-beCauSe of the myriad
eViiS L brings in its train; for such over
tapnahzatl0n often means an imitation
uas invites business panic; it always con-
teals the true relation OF the profit earned
10 the actual capital invested. and it
CIedtes burden OF interest payments
s Shlch IS fertile cause OF improper re-
~
manages the small investor. disCOurages
thrift and encourages gambling and spec
osa'S,i9eh, While perhaps worst Of all is the
"isehRess and dishonesty which it implies
-iOr narm TO morals ana worse than any
yVSsf8te harm TO material interests, and
ms deoauchery of politics and business
great dishonest corporations Is far
~ SOiSe than any actual material evil they
w me public. Until the national govern
meht obtains, in some manner which the
n S,suom OF the Congress may suggest.
I Moper control over the big corporations
msdsed IN interstate cOmmerce-th that is.
nn ra ., lne great majority of the big cor
sSSiatlons-it will be impossible to deal
Soequately With these evils.
a. am we'll aware OF the difficulties Of
~ ' :. ,eeislatlon that l am suggesting, and
" so,t me need OF temperate and cautious
s sHt,0n M, IN securing it. should emphatic
hne
t hsS y. action. The first thing to do is
S % osai with the great corporations en-
aoseu ~ the business OF interstate trans
Ehe ao AS | said in my message of
nro S last, the immediate and most
cs or"o.s need, so far as legislation Is
Sorn ner neg, IS the enactment into law of
t tSa scheme to secure to the agents Of
we government such supervision and
rsSsiu,dtloh OF the rates charged by the
Sta ttoaos OF the country engaged in inter
So, uaffio as shall summarily and
mst 't I'VE prevent the imposition OF I'M
cIn5o0 vi unreasonable rates. II must in
IN svo putting a complete stop to rebates
peynletSS shape and form. This power to
oy ss's a rates, like all similar powers
S,s sa tne business world. should be exer-
rss,r. WIN modera ton, caution, and self
can ahliit' put 1t should exist, so that 1t
naa5 ue effectively exercised when the
MINI hIst consideration to be kept in
alive mat the power should be affirm
MINI. ahu should be given to some ad-
II viva aa'tVe BODY created by the Congress.
mes ssssl 70 the present Interstate Com
lnterStottool h mission or to reorganized
aSniaisSsion should be made unequivocally
eoyerns1ratiye ! do not believe in the
ness nllent interfering with private busi-
bslio,.mn more than is necessary. / do not
anv N,., ~ the government undertaking
left ~ mO TX, which can with propriety be
bejieUa private hands. But neither do |
oyerssain ~ the government fiinehing from
syidselhg any work when it becomes
thaSelt That abuses are sure to obtain
snnsr,.i. unless there is governmental
inSicas,tss i on It is not my province to
aboSjSI me exact terms of the law which
Of thy s 9e enacted; but call the attention
dltiSns H III to certain existing con-
In INV ; Min which 1t Is desirable to deal.
vision Jrasment the most important pro-
ID TN. which such law should contain
adniniss comforting upon some competent
apon ', tSI body the power to decide,
Ehetban case being brought before it,
road Is given rate prescribed by rail-