The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-12-05

can do and has done great good. Eacn
should be favored so long as it dces
good. But each should he sharply
checked where it acJs agiast law and
justice.
So long as the finances of the ma
ton are kept upon an honest basis no
other question of internal economy
with which the congress has the power
to deal begins to approach in impor-
lance the matter of endeavOring to Sc
cure proper industrial conditions un-
der which the individuals-and espe-
ciallY the great cOrpOrauOns-doing
an interstate business are to act. The
makers of our national constitution
providedA especially that the regulation
of Interstate commerce should come
within the sphere of the general gov
ernment The arguments in favor of
their taking this stand were even then
overwhelming But they are far
stronger today, in view of the enOr-
NOUS development of great business
agencies, usually corporate in form.
Experience has shown conclusively
chat it is useless TO try to get any ade-
quate regulation and supervision of
these great corporations by state ac-
ton. such regulation and supervision
can only be effectively exercised by a
sovereign whose Jurisdiction is cock
tensive with the field of work of the
that is by the national
government I believe that this regu-
lation and supervision can be obtained
by the enactment of law by the con-
gress- If this proves impossible. If
VIII certainly be necessary ultimately
to confer in fullest form such power
upon the national government by a
proper amendment of the constitution.
lI would obviously be unWiSe to en-
deaXor to secure such an amendment
until II is certain that the result can
not be obtained under the constitution
as 1T now is. The laws of the congress
and of the several states hitherto, as
passed upon by the courts have re-
suited more often in showing that the
states have no power in the matter
than that the national government has
power; so that there a present exists
very unfortunate condition of things
under which these great corporations
the position of subjects without a
sovereign, neither any state govern
ment nor the national government
having eifectlve control over them.
our steady aim should be by legisla-
uOil' cautiously and carefully under
taken, but resolutely persevered in, to
assert the sovereignty of the national
government by affirmative action.
Merely a Restoration.
This is only in form an innovation.
IN substance it is merely a restOra-
uon; for from the earliest time such
regulation of industrial activities has
Deeh recognized in the action of the
law making bodies; and all that I
propose IS to meet the changed condi-
nons in such manner as will prevent
the commonwealth abdicating the
power il has always possessed not
only IN this country but also in Eng
land before and since this country
became separate nation.
IL has been misfortune that the ma
tOnal laws on this subject have hither-
TO been of a negative or prohibitive
rather than an affirmative kind. and
still more that they have in part sought
to prohibit what could not be effective
ly prohibited. and have in part in their
pfohlbltons cOnfounded what should be
allowed and what should not be allowed.
1t is generally useless to try to prohibit
all restraint on competition. whether
this restraint be reasonable or unre9-
sonable; and where it is not useless it
IS generally hurtfuL Events have
shown 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 at
tention to the enforcement of the anti
trust legiSlat ton than TO anything else
Much has been accomplished; Darucu-
laFly marked has been the moral effect
OF the prosecutions. but it is increasing
~ evident thar there will be A very
insufficient beneficial result in the way
OF economic change The successful
prosecution of one device to eVade the
law Immediately develops another de-
vice to accomplish the same purpose.
/ What is needed Is not sweeping prOhi-
bition of every arrangement. good or
bad. which may tend to restrict com
petition but such adequate supervision
and regulations as viii prevent any re
StIlct1on Of competition from being to
the detriment Of the public-as well as
such supervision and regulation as VIII
/ prevent other abuses in no way con-
nected with restriction of competition.
4 OF these abuses, perhaps the chief al
I though by no means the only one is
! overeapitali generally itself the
result OF dishonest otion-because