The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-12-08
PRESIDENTS MESSAGE
Continued from Page Two.)

III o1P11Oo NlC AAC Iiidll L
tries to dc well by his neighbor from
the dishonest man who does i'll by his
Deighbor. In other words. the stand
ard we should establish is the tai
ard of conduct not the standard of
occupation. Of means, or of social DO
sition. II IS the mans moral quality
his attitude toward the great questions
which concern all humanity. his clean
Illness of life. his power to do his duty
toward himself and toward others.
which really count: and If we subSti-
tute for the standard of personal iudg-
ment which treats each man accord
ing to his merits. another standard in
accordance with which all men of one
class are favored and all men of anOth-
er class Disseminated rains we shall
do irreparable damage to the body
polite. I believe that our people are
too sane. to self-respecting. too fit for
self-government. ever to adopt such
an attitude. This Government is not
and never shall be government by a
plutocracy. This Government is not
and never shall be government by a
mob. It shall continue TO be in the
future what 1t las been in the past, a
government based on the theory that
each man. rich DR. poor. is to be treated
simply and solely on his worth as a
man. that all his personal and prop
ertv rights are to be safeguarded. and
that he is neither to wrong others nor
to suffer wrong from others.
The nobiest of all forms of govern
ment is self-gOvernment: but it is also
the most difficult. We who possess
this priceless boon. and who desire to
hand it on to our children and our
chiIdren's children. should ever bear
in mind the thought so finely expressed
by Burke: Men are qualified for
civil liberty in a proportion to their
disposition to put moral chains UPON
their own apDetiteS: in proportion as
they are disposed to listen to the coun-
sells of the wise and good in preference
to the fiattery of knaves. Society can
not exist unless a controlling power
upon will and appetite be placed some
where. and the less of it there be with
in the more there must be without.
1t is ordained in the eternal constitu-
ton of things that men of incorporate
minds can not be free. Their passions
forge their fetterS."
Insurance.
The great insurance companies af-
ford striking examples Of co~~~OratiOns
whose business has extended so far be-
yond the jurisdiction of the States
which created them as to preclude
strict enforcement of supervision and
regulation by the parent States. In my
last annual Message l recommended
that Congress carefully consider
letiLcI thS Do"cI VI liz Dul Cou VI
Corporations can not constitutionally
be extended to cover interstate trans
actions in insurance" Recent events
haVt emphasized the Importance of
an early and exhaustive consideration
Of this uuestian. to see whether it is
not possible to furnish better safe
guards than the several States have
been able to furnish against corrup-
ton of the fragrant kind which has
been exposed. 1t has been only too
clearly shown that certain of the men
at the head of these large corporations
take but small note of the ethical dis
tinction between honesty n diShones-
ty: thew draw the line only this side
of what may be called laW-honest. the
kind of honesty necessary in order to
avoid falling into the clutches of the
law Of course the only complete
remedy for this condition must be
found in an public conscience.
a higher sense of ethical conduct in
the community at large. and especially
amon business men and in the great
profession of the law. and in the
growth of a spirit which condemns all
dishonesty. whether in rich man or in
Door man. whether it takes the shape
of bribery or of blackmail. But much
can be lone by legislation which is not
only drastic but practical. There is
need Of a far stricter and more uni
form regulation Of the vast insurance
interests of this country. h United
States should in this respect follow the
policy of other nations by providing
adequate national supervision of com
merciaI interests which are clearly ma
tional in character. NV predecessors
have repeatedly recognized hat the
foreign business of these companies is
an important part of our foreign COM
mercial relations. During the
istrations of Presidents Cleveland. Har-
rison, and Mckinley the State Depart
ment exercised its influence. through
diplomatic channels. to prevent unjust
discrimination by foreign countries
against American insurance companies.
These negotiations Illustrated the pro-
DrietV of the ongre recognizing the
national character of insurance. for in
the absence of Federal legislation the
State Department could only give eX-
preston to the wishes of the authori-
ties of the several States. whose policy
was ineffective through want of uni
fOrmity.
] repeat my previous recommended
ton that the Congress should also con-
slider whether the Federal Government
has any power or owes any duty with
resDect to domestic transactions in in
Surance Of an interstate character.
That State supervision has proved in
ADEQUATE is generally conceded. The
burden upon insurance companies. and
therefore their policy holders. of con
Gictirg regulations of many States. is
unuuestionad. while but little effective
check is imposed upon any able and
u~nscrupulous man who desires to eX-
plot the company in his W interest
at the expense of the policy holders
and of the public. The inability of a
State to regulate effectively insurance
corporations created under the laws of
other States and transacting the larger
part of their business elsewhere iS also
clear. As q remedy for this evil OF
conficting. ineffective. and vet burden
some regulations there has been Tor
many wears a widespread demand for
Federal SUPERVISION The CONGRESS has
already RECOGNIZED nat interstate in
surance NAV be a proper subject for
Fedora legislation. for in creating the
Bureau of Corporations 1t authorized
it TO publish and supply useful infor-
nation concerning interstate corpora
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