The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1905-12-07

the people on the continued prosper
tty of the nation. r use relation
ship and mutual lence upon
each other of capita and labor are
pointed out, and the message con
tinues:
Corporations.
Yet while not merely admitting. but in
ststing 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
which tell against this common good.
The fortunes amassed through corporate
organization are now so large, and vest
to make II a matter of necessity to give
to the sovereign-that Is. to the Govern
ment, which represents the people as.
Wholesome effective power OF supervis-
ion over their corporate use. In order to
insure a 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 i am in no sense hostile to cor
porations. This is an age of combination.
and any effort to prevent all combina-
tion VII be not only useless, but in the
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
agencies In n country such as ours and
lty devoted to their service and there
fore normally to the service of the public.
by their officers and directors; The cor
pora lion has come to stay. just as the
trade union has come to stay Each can
DO and has done great good. Each should
be favored so long as 1t does good. But
each should be sharply checked where IL
acts against law and justice.
The President shows the impossi.
bilty 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 a proper amend
ment to the constitution. He says:
1t has been a misfortune that the
national laws on this subject have hither-
to been OF q negative or prohibitiyS rather
hibit what could not be effectively pro-
hibitions confounded 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;
end where Il is not useless II Is
generally hurtfui' Events have shown
secure the enforcement OF any law of this
Kind by incessant appeal to the courts.
to the enforcement of the anti trust legis-
lation than to anything else. Much has
there viii be v ,nsffa nsuse st'q beneciai
result In the way OF economic change.
The successful prosecution of one device
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.
tion,, but such adequate supervision and
regulation as VIII prevent any restriction
or competition from being to the detri-
supervision and regulation as will pre-
vent other abuses In no way connected
abuses, perhaps the chief although by
no means the only one, Is overcapitaliza-
honmgenerally Itself the result OF dis,
evils 1t brings In its train: for such over
capitalization often means an imitation
that invites business panic; II always con
ceals the true relation of the profit earned
to the actual capital invested, and 1t
creates burden of interest payments
which Is fertile cause of improper re-
duction or In limitation OF wages; II
Damages the small investor. discourages
thrift, and encourages gambling and spec
ulation; while perhaps worst OF all is the
trickiness and dishonesty which It implies
for harm to morals and worse than any
possible harm to material interests. and
the debauchery OF politics and business
by great dishonest corporations Is far
worse than any actual material evil they
90 the public Until the national govern
ment obtains, in some manner which the
wisdom OF the Congress may suggest,
engaged In interstate commerce that is
over me great majority OF the big cor;
adequately with these evils
/ am well aware OF the difficulties of
the legislation that l am suggesting. and
OF the need OF temperate and cautious
ally. protest against improper radical or
ihasty action The first thing to do is
gagged in The busness of tra9s
poftatlon As ! said In my message of
Dec. last, the immediate and most
pressing need. so far as legislation is
concerned, is the enactment into law OF
some scheme to secure to the agents OF
the g,9,yernment such supervision and
railroads OF the country engaged in inter
state traffic as shall summarily and
eHectlNelN prevent the imposition of I'M
Just or unreasonable rates, II must in
elude putting complete stop to rebates
In every shape and form This power to
over, the business world, should be exer-
elsed with moderation caution. and self
restraint, but It should exist, so that it
can be effectively exercised when the
need arises
The hrst consideration TO be kept in
mind Is that the power should be affirm
awe ana should be given to some ad-
illustrative body created by the Congress
II given to the present Interstate Com.
merce commission or to a reorganized
Interstate Commerce commission. such
commission should he made unequivocally
government Interfering with private busi-
ness more than is necessary | do not
beneNe IN the government undertaking
any work which can with propriety hp
lett IN private hands. But neither do
believe In the government ninchng from
overseeing any work when il becomes
evident that abuses are sure TO obtain
therein unless there is governmental
supervision 1t Is not my province TO
indicate the exact terms Of the law which
should be enacted; but / call the attention
OF the Congress 70 certain existing con
ditions with which II Is desirable 10 deal
In my judgment the most important pro
vision which such law should contain
is that comforting upon some competent
administrative body the power to decide
upon the case being brought before H.
whether given rate prescribed by "a rail-
road is reasonable and Just and II II is
found to be unreasonable and unjust
then, after fun Investigation OF the com
plant, TO prescribe the limit OF rate
beyond which II shall not be lawful to &c
the maximum reasonable rate. as II 4.
commonly called-ths decision to 20 into
effect within reasonable time and a.
obtain from thence onward, subject Ia
reNieM hN the cnmrls IN -nmnIlrn-. Lau-