Custer County Republican. (Broken Bow, Neb.) 1882-1921, 1905-12-14

ne IltShdB6 VI ltolhNht ANcSSN
welt, read at the first session OF the
Fifty-ninth Congress, congratulates
the people on the continued prosper
fly OF the nation. The close relation
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, but In
sistlng upon this, 1t Is also true that
where there Is no governmental restraint
or supervision some of the exceptional
men use their energies not In ways that
are for the common good. but IN ways
which tell against this common good
The fortunes amassed through corporate
organization are now so large and vest
such power In those that WELD them, as
TO make 1t a matter of necessity TO give
to the sovereign-that IL, to the Govern
ment, which represents the people as
wholesome effective power of supervis-
ion over their corporate use. In order to
insure n healthy social and industrial life,
every big corporation should be held re-
sponsible by and be accountable to- some
sovereign strong enough to control It's
conduct am in no sense hostile to cor
porstions. This Is an age OF combination.
tion will be not only useless. but in the
end vicious, because of the contempt for
law which the failure to enforce law In
evitably produces. We should, moreover.
recognize in cordial and ample fashion the
immense good effected by corporate
the wealth OF intellect energy, and fdel-
ity devoted to their service and there
fore. normally to the, service of the public
by their officers and directors. The cor
poration has come to stay, just as the
trade union has come to stay. Each can
DO and has done great good. Each should
each should be sharply checked where 1t
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:
1t has been misfortune that the
national laws on this subject have hither-
than an affirmative kind, and still more
that they have In part sought to pro-
hibt what could not be effectively pro-
hibitions confounded what should be
allowed and what should not be allowed.
It is generally useless to try to prohibit
restraint be reasonable or unreasonable;
and Where i Is not useless Se i Is
that it is not possible adequately to
secure the enforcement OF any law OF this
kind by incessant appeal to the courts.
The Department of Justice has for the
last four years devoted more attention
TO the enforcement Of the enti-trnst legls-
been accompished; ' pasrt tssi I marked
has been the moral effect of the prosecu-
tions but it is Increasingly, evident that
result In the way of economic change,
The successful prosecution of one device
to eyade the law Immediately develops
another device to accomplish the same
purpose, What Is needed is not sweeping
prohibition Of every arrangement, good or
bad. which may tend to restrict competi-
ton, but such adequate supervision and
regulation as will prevent any restriction
Of competition from being to. the detri-
supervision and regulation as will pre-,
vent other abuses in no way connected
with restriction Of eomPetiion of these sc
no means the only one, is overcapitallza
tion-generaly itself the result of dis
honest promotion-because OF the myriad
evils It brings in its train: for such over
capitalization often means an imitation
that invites business panic; 1t always con
ceals the true relation OF the profit earned
TO the actual capital invested, and /
creates burden OF interest payments
S% nHtor is fertile G9nse of impr0peg re
damages the small investor Discourage
thrift, and encourages gambling and spec
ulation: while perhaps worst OF all is tn
thickness and dishonesty which 1t implie
for harm to morals and worse than an
possible harm to material interests, ant
by great dishonest corporations is ia
worse than any actual material evil the
do the public Until the national govern
ment obtains, in some manner which tn
wisdom of the Congress may suggest
proper control over the big corporation
engaged In interstate commerce-that Is
over the great majority Of the big cor
porations-it will be impossible to dea
adequately with these evils.
the legislation that l am suggesting, an
or the need OF temperate and caution
action In securing 1t. should emphatic
hasty action The first t thing to do
gagged in the business OF Interstate trans
Dec. last. the immediate and mos
pressing need, so far as legislation
some scheme to secure to the agents
the government such supervision an
regulation of the rates charged by tn
state traffic as shall summarily an
effectively prevent the imposition OF vi
Dust or unreasonable rates. 1t must II
in every shape and form. This power
regulate rates, like all similar. power
cised with moderation, caution. and sci
restraint: but II should exist, so that
can be effectively exercised when Il
need arises.
The nrst consideration to be kept
mind is that the power should be affirm
alive and should be given to some n,
DOuy created Dy tue SOuBTes
II given to the present Interstate Con
merce commission or to reorganiz
Interstate Commerce commission, SUI
commission should be made unequivocal
administrative. i do not believe in q
government interfering with private bus
ness more than Is necessary. ! do n
believe In the government undertake.
any work which can with propriety
left in private hands. But neither do
believe In the government fiinching fro
overseeing any work when 1t becom
evident that abuses are sure to obta
therein unless there is government
supervision. 1t is not my, province
indicate the exact terms of the law viii
should be enacted; but call the attenti
OF the Congress to certain existing co
ditions with which 1t is desirable TO de
In my judgment the most important pr
vision which such law should contf
Is that comforting upon some compete
administrative body the power to decl
upon, the case being brought, before
whether a given rate prescribed by ra
road is reasonable and Just, and II It
found to be unreasonable and unju
then. after full investigation OF the co
plant to prescribe the limit OF II
beyond which II shall not be lawful TO
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