The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1905-12-08

Later---Other matters.
Washington Dee 5-Tne annus4 mes
sage OF Pres dent Roosevelt was read IN
both houses 81 congress to-day. Il Is doc
ument * seine -ieO words, ard con
tatns rec0mmeriltlons for much important
legislation.
Tie subject of federal supervision u cor
porattons. and especially railroad corpora
lions Is the FIRST subject treatet or 10y the
pres le-t. ana % il he gives the sfeates-
amount or attention After speAh4ns ot nc
general prosperity Of tie country and The
power ~ the corporations for COCO or eNl.
IN connection with TIE nations prosperity
he says
are kept upon an honest basis. no other
question 81 internal economy Win "hlch
The CONGRESS has the power % deal besiLs
70 approach in Importance the matter o.
enden roring 10 secure proper industrial
conditions under which the ndividuals-
and especially the great corporations
doing an interstate business are 20 act
The makers OF our national constitution
provided especially THAI the regulation
OF interstate commerce should come WIN
IN the sphere OF the general government.
The arguments In favor Of their taxing
thts stand were even then overw helming.
But they are FAR stronger to-day. ~ view
OF the enormous development OF great
business agencies usually corporate IN
form. Experience has shown conclusive
Is that Ii is useless 10 Try - get any
adequate regulation and supervision Of
these great corporations by state action.
Such r equation and supervision can only
be effectively exercised by severe gn
whose jurisdiction Is cOeNtenslve with the
field n work 81 the cOrporat0ns-that IS,
5y the national government believe
nd 10. nm "a n
be obta ned by the enactment o. law by
the congress. II this proves impossible.
AZ Will certainly be necessary ultimately
20 confer in fullest form such power upon
the national government By proper
amendment Of the constitution X would
obviously be unwise to endeavor 70 secure
such an amendment until il IS certain
that the result cannot be obtained under
the constitution as Il now is The laws
o. the congress and OF the several states
hitherto. passed upon by the courts
have resulted more often In showing that
the states have MO power IN the matter
than that the national government has
power. so that there at present exists
very unfortunate condition OF thlngs.
under which these great corporations do
Ing an Interstate business occupy the po-
sition OF subjects without a sovereign.
neither any state government nor the ma
tonal govern mert having effective con-
trol over them our steady aim should
be by legislation. cautiously and care
fully undertaken. but resolutely per-
severed IN. 70 assert the sovereignty OF
the national government By affirmative
action
Present Laws Inadequate.
II has been a misfortune that the ma
ti0naI laws on this subject have hitherto
been % negative or prOhibitive rather
than an Affirmative kind and stiu NOR.
hay hu rHa fTH 49, t.Is.f
what could not be effectively prohibited
and have In part in their prohibitions
confounded what should be allowed and
what should not be allowed II IS gen.
orally useless 90 try to prohibit all re.
stralnt on competition, whether this re-
straint be reasonable or unreasonable
and whore u 8 net useless Il IS gener.
ally hlrtiul Events have shown that n
Is not 20 s-hie adequately 70 secure the
enforcement % any law OF this Kind bx
incessar appeal 20 the courts The de-
partment u Justice has for the last fou,
years devoted more attention 10 the ~.
forcefnent % the anti-trlet Legislation
than 90 anything else A1uch has neer
accomplished particularly marked ma.
been the moral effect 0f the prneecutfons
but IL Is Increasingly evident that the-.
will be very insufficient beneficial re
suit In the way OF economic change Tn.
successful prosecution OF one device q
other device 10 accomplish the same pur
pose What j. needed is not sweepinl
prohibition ~ every arrangement. goo,
or bad which may tend % restrict com
petition but such adequate supervision
and regulation VIII prevent any re
strlcfion % competition from icing q
the dcfriment OF the public-as well a.
such supervision and regulation as vii
prevent other abuses IN no way connected
with restriction Of compe ution or thes
abuses perhaps the chief although b,
no means The only one. IS overcapltalza
fi0n-renerally itsclf the result OF dish0n
est promotion-because 81 the myria
evil Il brings In its train. for such over
capitalization often means an nnato
that invites business panic. II always con
ceals the true relation OF the profit earne
10 the capital actually invested, and
creates burden OF interest payment
which Is fertile cause OF improper r.
ductlon In or Limitation OF wages:
damages the small investor. discourage
thrift and encourages gambling an
speculation. while perhaps worst OF a
f. the thickness and dishonesty which
implies-for harm 70 morals is worse tina
any possible harm 70 material interest
and the debauchery OF politics and bus
ness by great dishonest corporations
far worse than any actual material ev
they 90 the public. Until the nations
government obtains. In some mann,
which the wisdom OF the congress ma
suggest proper control over the big co
porations engaged in Interstate CONNER,
that rs. over the great majority OF n
big corporatlons--it will be impossible
deal adequately with these evils
Railroad Rate Regulation.
am well aware OF the difaculti.
Of the legislation that l am sugges