Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-12-07
PRESIDENT SENDS HIS
J MESSAGE TO CONGRESS

today, in view of the enormous devel-
opment of great business agencies, us
ually corporate in form. Experience has
shown e cor that IT is useless to
supervision of these great corporations
by state action Such regulation and
supervision can only be effectively exer--
is co-extensive with the field of work
Of the corporations-that Is by the ma
tional government. believe that this
regulation and supervision can be OBJ
tained by the enactment of law by the
congress. II this proves impossible. 1t
VIII certainly be necessary ultimately to
confer In fullest form such power upon
the national government by a proper
amendment of the constitution. 1t would
obviously be unwise to endeayor to Sc
cure such an amendment until 1t is GER
tain that the result can not be obtained
under the constitution as it now Is. The
laws of the congress and of the several
states hitherto, as passed upon by the
showing that the states have no power
In the matter than that the national
government has power; so that there
Ct present exists very unfortunate con-
great corporations doing. an Interstate
business occupy the position of subjects
without sovereign. neither any state
ment having effective control over them
Our steady aim should be by legislation,
cautiously and carefully undertaken, but
TeSOluISly perSeSereu IN, To- assert the
sovereignty Of the national government
by Affirmative action. -
Not an Innovation
I This is only in form an innovation.
In substance 1t is merely a restoration:
for from the earliest time such regula-
ton Of idnstr1a activities las been
making bodies; and all that | propose
is to meet the changed conditions in
such manner as will prevent the COM
tYne hos
always possessed, not only in this
country but also In England before and
since this country became separate ma
ton.
Supervision the Best
1t has been misfortune that the ma
tional laws on this subject have hither-
to been of a negative. or prohibitive. rath--
er than an, affirmative kind, and still
prohibit what could not be effectively
prohibited, and have in part in their
prohibitions confouhded what should be
allowed and what should not be allowed.
1t Is generally useless to try to pro-
hibit all restraint on competition, wheth-
er this restraint be reasonable or un-
reasonable; and where it is not useless,
BILE adequately to secure the enforcement
of any law of this kind by incessant APP.
Justice has for the last four years de-
voted more attention to the enforcement
Of the antitrust legislation than to
anything else. Much has been accom-
the moral effect of the prosecutions; but
1t Is increasingly evident that there will
be a very insufficient beneficial result in
the way of economic change. The sue
evade the law Immediately develops an
other device to accomplish the same pur-
pose. What is needed is not sweeping
prohibition of every arrangement, good
or bad. which NAV tend to restrict COM
and regulation as will prevent any re-
striction of competition from being to
the, ,detrimsnt of the public.as well as
prevent other abuses In no way con-
nected with restriction OF competition.
OF these abuses; perhaps the chief, al
by NJ means fas 9Hy
Of the myriad evils it brings in it's train;
for such DISQUALIFICATION often means
an imitation that Invites business panic:
the profit earned. to the capital actually
invested, and 1t creates a burden of in
terest payments which lis a fertile cause
of improper reduction In or Limitation of
discourages thrift, and encourages gamb-
ling and Speculation; while'ts perhaps
worst. of all Is the thickness anas dishon1
ais is':.worse than any possible harm to
material interests.s ana the -debhachery
Of politics and business.by great disheR7
est CORPORATIONS is far worse than any
Until the national government obtains,
In some manner which the wisdom of the
congress may suggest proper control
over the big eorporathions engaged I'm IN
great majority of the big corporations
1t will be impossible to deal adequately
with these evils.