The National tribune., 1905-12-14
THE PRESIDENTS MESSAGE.

! covered a far wider range. and all OF
them We're matters upon which the
people are thinking quite deeply.
The pith of his views upon the con-
troll of industrial corporations was con-
tanned in the following:
$50 long as the finances Of the Ma
ton are kept upon an honest basis no
other question of internal economy
with which Congress has the power to
deal begins to approach in Importance
| the matter of endeavoring to secure
proper industrial conditions under
which the Northumberland especially
| the great corporations-doing an inter-
state business are to act 1t Is
generally useless to try to prohibit all
restraint on competition, whether this
restraint be reasonable or unreasona-
bic; and where 1T is not useless 1t Is
generally hurtful."
| This Is a very general observation,
with its main practical application be-
ing that we should go quite slowly and
cautiously in this species of legislation,
if we entered upon it at all, which we
had better not.
His views on railroad legislation are
much more specific, and are in &C
cord with the best thought of the coun-
try at the present time:
'In my Judgment, the most import
ant provision which such a law (regu-
istIng railroad rates. should contain is
that comforting upon some competent
| administrative body the power to de-
eide. upon the case being brought be-
| fore IL, whether a given rate prescribed
| by railroad is reasonable and just,
ard II 1t is found to be unreasona BILE
and unjust, then. after full investiga-
tiOn of the complaint, to prescribe the
| limit of rate beyond which it shall not
be lawful to go--the maximum reason
able rate. as 1T is commonly called
| this decision to go into effect within a
reasonable time and to obtain from
| thence onward, subject to review by
the courts
This means that the Interstate Com
| merce Commission, or a similar tribun-
al, should be clothed with power to
ummarily reduce an exorbitant rate,
but that the courts should have author
ity to review the action of the Com
mission, and reverse it If unjust
AS to Federal control of insurance
| companies he says:
Recent events have emphasized the
| importance of an early and exhaustive
consideration of this question to see
whether it is not possible to furnish
better safeguards than the several
States have been able to furnish against
corruption of the fragrant kind which
has been exposed. 1t has been only too
clearly shown that certain of the men
at the mead of these large corporations
axe but small note of the ethical dis
tnction between honesty and dishon-
esty; they draw the line only this side
OF what may be called law honesty the
L Of hon n
falling into the clutches Of the law"
This is quite non-cornmittal. 1t goes
no farther than a proper censure of
fiagrantly dishonest officials.
With regard to Tariff Revision the
President balances his phrases judi
ciously. but the inclination Of the beam
is toward the Stand-Patters. He says:
There is more need of stability than
OF the attempt to attain an ideal per-
lection i'm the methods of raising reve-
nue., and the shock and strain to the
business world certain to attend any
serious change in these methods render
such change inadvisable unless for
grave reason. 1t is not possible to lay
down any general rule by which to de-
termine the moment when the reasons
for will outweigh the reasons against
such change. 1t Is as yet too
early to attempt to outline what shape
such readjustment should take. for
I: Is as yet too early to say whether
there will be need for It, 1t should
be considered whether it is not dcsra-
BILE that the tariff laws should provide
for applying as against or in favor of
any other Nation maximum and mini
mum tariff rates established by the
Congress-, so as to- secure a certain reci-
proeity OF eatment between other
Nations and ourselves"
In other words: Any suggestion Of
revision Of the Tariff will have a chill
ing effect upon the present prosperity
and only warranted by reasons of the
gravest nature. Are there any such
| reasons? II there are, they have not
yet developed sufficiently to attract
general attention. 1t seems much more
necessary just now to consider recipro-
| cal trade arrangements with other
countries using our present schedule as
lever to obtain lower rates for Amer
lean products with our best customers
| AS to campaign contributions he
says:
I'm political campaigns in q country
as large and populous as ours 1t Is in
evita BILE that there should be much ex-
pense OF an entirely legitimate kind
| This of course, means that many con-
| tributions, and some of them of large
| size. must be made. If they are
cxtorted by any kind of pressure or
promise. express or implied, direct or
| indirect. in the way of favor or immun-
| ity, then the giving or receiving be-
comes not only improper but criminal
| All contributions by corporations
| to any political committee or for any
political purpose should be forbidden
| by law. directors should not be per-
mitted to use stockholders money for
any such purpose"
Every word of this is certain to be
approved. Every campaign committee
should have considerable money to ex-
pend in what are necessary and proper
expenses. A sufficiency ought always
to be readily obtainable from those
who have the success of their party at
heart, and any sort Of involuntary con-
tribution should be put under the ban
OF the criminal law. Anything that
savors of Matchmaking insurance cor
poratiOns and banks should be made
distinctly criminal, and, on the other
hand. those institutions, which are
public utilities Of the most important