The Monticellonian., 1905-12-07

q H complete message is 3l document of almost saoeo WafGs. TGe en.y reference mace ta tariff revision iS iG the paragraph devoted to national revenues, where It. gecla9ed that ur5ess OUT Expenditures eau he kept within tie revenues ourr,XenEe avs must be readjusted. What form this readjust- ment Shoui4 take. fl t is needed, he de e5ares t is as yet 100 earIs tn sa&.
 Control Of Corporations.
 The president ecYates considerable space t0 the discussion of tie great corporations of Ge country and particuarsy the raj roaGs. He believes tEc tune has come when tAet should he B.aead utedr federal control aHG recon mcnES legislation icok- ing to ti.s erd. He railroad rebate oyii is dep.ored. and le advises action that Would aboizh t lie believes tE5 present interstate tomuFree laws are iuascquate anu that # tEe commission were endowed with mare power | would al6 greatly IL sowing tE9 XrNc3 problem. In ttiz coHhe5- ton tc saFs
 It has Teen a misfortune that the ua- tu.dl f9ws ou tuts subject have t!ther5o been cG il negative or prehihilve ratEeE than an affirmative 1!ut, and still more that they lave .u part Sou2ht to prohibit what ean.a net Ee effectively prohibited and have ia part iH ttelr prohibitions con founded what should ts allowed aaI what should lot be allowed. IL as generally use less 10 try 10 prohibit al restraint ou com petition. whetEer this restraint LereasGGz able or uursasoEab,c. and where it k ret useless il is Efrcraa5 karGHi. Events have shown tEat il is E0t possible aGe- duate.} 10 ss cure the enforcement Of atS law ol tEis kind hy ineesssHt appea. t9 the courts IL Apartment of justice has fer the iast four years devoted morc attention 10 jte enforcement oI tHC antitrust !egisia= Hff ale h been accomplished: particularly marked has been tte nora effect Ct tte prGsecu- uoEs, hut it is increasingly tN38ent that there Nj he q YerY insufficient heneh- ciai result in tke Way oi economic change. Tie successful prosecution of one dcgtce to evade the iaw immediately develops an- other device ta accomplish tke same pur pose AEat is Eoeded is not sweeping pro bition Of exors arrangement, good or bad, which uaH tend t6 restrict GCEpC CtItion, but such aaeqaate supervision aHd regulation as wi. prevent any restriction of eumFea- tion from being t3 Ito Ge,riment of ttC pubit-aS NC as SHch sGprrN3Si0E= and rc E. utatiou as wiJ preycrt 0tNcT abuses in 10 way connected with restriction of eGap6- tition. Of these abuses nertaps tEc chief although by no means t..g uniE CEt. IS tNef- capitaiizltior-seue itseif the resut Of dishonest pronotio1- because af He myriad evils if brings in its train; Tor sucE
 
 that invites business paatf, fE ways con eea-s tbe tfue relation df fEc profit eafHed to tEe capita. actually invested ard r oroutes d burden ct interest a&nlcEts which is d fertile cause of tnrropt ttdHt- ton in or limitation of wages, t latzaes= the snai. investor, disuCuragcS tLtIIf. au4 encourages gambling and sueeu afiaHs wEtc HerhaTS worst of aA a thr trickiness and GisHous stX which it implf> for harm to morals iS worse than any possible harW to material interests. and tic GehHuCEery of politics and business by great dishonest corporations is far verse taan any actual maseeia. ey!, they do tJ the Pub.se,= .a1H the national government obtains iu some manner which the wisdom Cf the congress max suggest proper cC.stro over tEe big corporations engaged iu interstate com mcrcc-ttat is. over tke great majority of the big corporatioCs-it will bc impossible to Gca. adequately with tteso evils."
 Railroad Rate Regulation.
 He strongly nrotcsts against radical or nasty action in stopping the rebate evi5. and thFa gees on to say % de uat believe ir tEe government interfering win urfyatc business more than is Eec"ssary. ! do not believe js the government urs,rtaklu- any werk "E3eh can with proprtety h. i5ft in priyate harGs But neither Go. | lelieNe in Ihe government flnchirE from e4erse..-
 
 auGss $ aIe sure to obtaIH ttcrtIu unfcSS ttere is governmental supervision. Ii E not lHy province To indicate tNt eNaci terms of .ha IaW wEirh should b. erart,4. Lat cl5 Ee attention of the congress to GeF- tain ,N3~tiUg c0uditiCrs with which lt E. desirable tp GeaE r ny iudemoHs tfc most mi arta1 provision which such t5A sh u.H contain is that coEf"ruug upon sense competent administrative beEA thc power ta cee.te uncr the ease being breusGt tetc3e it, wEatl l.er q .-iV,#ll ratc pre- seTsGe# lN railroad is reasonable aEu jus and II Ii is found 10 be unteasouab.e ard unjust then after fuIi iIves tsgatfor of fI.ez complaint to pscscrIGe tEt Hmit ot Tar, beyond which it shad Rot he law int to Gc@,he maximum raaSonabto rate aS lt l. commonly C4llcI-thiS i.CfsiOti. tp go into cit,cl within reasonable tJus ard to oi- tam t.cn thence onward. Subjoct orcVICv by tEe courts. 1t sometimes happens at present, r0t that a rdte is too Lj2,A bu; tfat a favored shipper is gI"en geo 1aw q rate. Tn such cases tEe commission would have the right to fN this already establish O. nl.iIEuu ratc aS tE" maximum, ard lt woa.G Ice& only ore or two such decisions hN the cen mission 10 cur" railroad com r1iics of tie practice Gf gitirE improper mllaimum rates ] call your attention tu the fact that ny proposal is net 10 eft, tEc tommi~sion power to initiate 0r OriE- inato fdtCs generally but to regulate a rat a a,reaGy fiXed or originated by the roads. upon complaint and after Investigation. 4 heaEy penalty should he enacted from ary corn rdiiGC which fai.s 10 respect an order Of tte commission. | regard this power O establish a maximum rate as being essen tat to any scheme of real reform iu the matter of railway regulation. The first He. cessty is to secure il; and unless it is granted to the commission there is litt.e use ia touching the subject a all
 .Fta sa To i'm isafF gfvF4 refrigerator charges and the like ssou q be expressly put unGcr the supervision of the interstate commerce. commission or some similar body so far as rates and agree ments practically aft cting rates are eon- cerDea, Tire private car ownets ard the owners of industrial 'airoaGs are entitled to a fair ard reasOnah.a compensation on their investment. but neither priNate cars Ter industrial railroads nor spur tracks should be utilized gev!ces for securing preferential raies A rebate tn icing charges CT in mileage. or in division of ha fpr gpi irry rha 44tgt