The daily morning journal and courier., 1905-08-12
PRESIDENT AT CHAUTAUQUA
Continued from Ninth Page.)

kDpI AlfzA Gus-SEL DCDPlE AJl u A|S-'AAAA go once more to turn their attention to industry and to be free from the curse of interminable revolutionary distur- bance. It offers to all bona fide credi- tors, American and European, the only really good chance to obtain that to which they are justly entitled, while it in return gives to SantO Domingo the only opportunity of defense against claims which it ought not to pay-for now if it meets the views of the senate we shall ouryelyes thoroughly examine all these claims, whether American or foreign, and see that none that are im- proper are paid. Indeed, the only eff fective opposition to the treaty will probably come from dishonest credi- tors, foreign and American, and from the professional revolutiOnists of the island itself. We have already good reason to believe that some of the cred itors who do not dare expose their claims to honest scrutiny are endeavor- ing to stir up sedition in the island, and are also endeayoring to stir up opposi- tion to the treaty both in Santo Domin- go and here, trusting that in one place or the other it may be possible to se- cure either the rejection of the treaty or else its amendment in such fashion as to be tantamount to rejection.
 Under the course taken, stability and order and all the benefits of peace are at last coming to Domingo, all danger of foreign intervention has ceased, and there is at last prospect that all cred itors will get justice, no more and no less. If the arrangement is terminated, chaos will follow; and if chaos follows, sooner or later this government may be involved in serious difficulties with for eign governments over the island, or else may be forced itself to intervene in the island in some unpleasant fashion. Under the present arrangement the in- dependence of the island is scrupulous- ly respected, the danger of the Mon roe Doctrine by the intervention of for eign powers Fanishes, and the interfer- ence of our government is minimized, that we only act in conjunction with the Santo Domingo authorities to se- cure the proper administration of the customs, and therefore to secure the payment of just debts tnd to secure the Santo Dominican government against demands for unjust debts. The present method prevents there being any need of our establishing any kind of protectorate over the island and gives the people of Santo Domingo the same chance to move onward and up- ward which we have already given to the people of Cuba. It will be doubly to our discredit as nation if we fail to take advantage of this chance; fgc it will be of damage to ourselves, and, above all, it will be of ncalcula ble damage to Santo Domingo. Every con- sideration of wise policy, and, above all, every consideration of large generosity, bids us meet the request of Santo Do mingo as we are now trying to meet to.
 So much for one feature of our for eign policy. Now for one feature of our domestic policy. One of the main features of our national governmental policy should be that the effort to se- cure adequate and effective supervisory and regulatory control over all great corporations doing an interstate busi- ness. Much of the legislation aimed to prevent the evils connected with the enormous development of these great corporations has been ineffective, part because it aimed at doing too much, and partly because it did not confer on the government a really efficient meth- od of holding an guilty corporation to account. The effort to prevent all re- straint of competition, whether harm full or beneficial, has been ill-judged; what is needed is not so much the eff fort to prevent combination as a vigil lant and effective control of the com- bifations formed, so as to secure just and equitable dealing on their part alike toward the public general, to- ward their smaller competitors, and to- ward the gage-workers in their employ.
 Under the present laws we have in the last four years accomplished much that is of substantial value; but the difficulties in the way have been so great as to prove that further legisla- ton is advisable. Many corporations show themselves honorab1y desirous to obey the law; but, unfortunately, some corporations, and very wealthy ones at that, exhaust every effort which can be suggested by the highest ability, or se- cured by the most lavish expenditure of money, to defeat the purposes of the laws on the statute books.
 Not only the men in control of these corporations, but the business world generally, ought to realize that such conduct is in every way perilous, and constitutes menace to the nation gen. orally, and especially to the people of great property.
 earnestly believe that this is true of only relatively small portion of the very rich men engaged in handling the largest corporations in the country; but the attitude of these comparatively few men does undoubtedly harm the coun- try, and above all harm the men of large means, by the just, but sometimes misguided, popular indignation to which it gives rise. The consolidation in the form of what are popularly called trusts of corporate interests of Immense value has tended to produce unfair restraints of trade of an oppres- sive character, and these unfair re- straints tend to create great artificial mnn0polies. The violation of the law knownsas the antitrust law, which was meant to meet the conditions thus aris- ing, have more and more become con- Rfaad n inc lopUar nono hin Q lions "a