The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-05
ROOSEVELT STANDS
PAT ON RATE BILL,
IN ALONG MESSAGE
Continued From First Page.


good. The fortunes amassed thru cor
porate organization are now so large,
and vest such power in those that WELD
them, as to make it a matter of neces-
sity to give to the sovereign-that is,
to the government, which represents the
people as wholesome effective power
Of supervision over their corporate USE
Industrial life, every big corporation
should be held responsible by, and be
accountable to-, some sovereign strong
enough to control it's conduct. I am in
no sense hostile to corporations. This
is an age of combination, and any effort
to prevent all combination will be not
only useless. but in the end vicious, be-
cause Of the contempt for law which the
failure to enforce law inevitably pro-
duces We should, moreover, recognize
. In cordial and ample fashion the i'm
mense good effected by corporate agen-
cies in a country such as ours, and the
wealth of intellect, energy, and fidellty
devoted to their service, and therefore
normally to the service of the public
by their officers and directors. The
corporation 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 it does
good. But each should be sharply
checked where it acts against law and
+ justice.
Question of Supervision.
So long as the finances Of the nation
are kept upon an honest basis no other
question of internal economy with
which the congress has the power to
the matter of endeavoring to secure
proper industrial conditions under which
the northumberland especially the
great corporations-doin an interstate
z business are to act. The makers OF our
national constitution provided especially
that the regulation of interstate COM
merce should come within the sphere
ments in favor of their taking this
stand were even then overwhelming.
But they are far stronger today, in view
of the enormous development of great
business agencies, usually corporate in
form. Experience has shown conclu:
sively that it is useless to try to. get
any adequate regulation and supervisor
of these great corporations by state
action. Such regulation and SUPERVISION
can only be effectively exercised by 6
sovereign whose jurisdiction is co
extensive with the field of work of the
corporations-that is, by the nationa
government. believe that this regula
by the enactment Of law by the con
p gress. IF this proves impossible, it viii
Certainly be necessary ultimately to con
fer in fullest form such power upon thu
national government by a proper amend
ment of the constitution. 1t woul(
obviously be unwise to endeavor t.
secure such an amendment until it i
certain that the result cannot be Oh
tanned under the constitution as it nov
is. The laws of the congress and OF tn
several states hitherto, as passed upo1
bv the courts, have resulted more ofte7
in showing that the states have n
power in the matter than that tn
national government has power; So tina
there at present exists very un1ortu
nate condition of things, under whlc
these great corporations doing an Intel
state business occupy the position o
subjects without sovereign, ne!the
any state government nor the natlona
government having effective contre
over them. Our steady aim shoula ?
by legislation, cautiously. and CAREFUL
undertaken, but resolutely persevere
in, to assert the sovereignty OF the ne
tional government by affirmative actor
Must Meet New Conditions.
This is only in form an innovation
In substance it is merely a restoration
for from the earliest time such reguls
ton of industrial activities has bee
recognized in the action OF the Law
is to meet the changed conditions
such manner as will prevent the con
monwealth abdicating the power it hs
always possessed, not only in tn
country but also in England before an
since this country became a separa1
nation. ,
Tt has been misfortune that tt
hitherto been of a negative or prohil
tive rather than an affirmative kin
and still more that they have in pa
sought to prohibit what could not
effectively prohibited, and have in pa
in their prohibitions COMPOUNDED VIII;
should be allowed and what should NJ
be. allowed. Tt is generally useless
try to prohibit all restraint on compel
4 ton, whether this restraint be reaso
able or unreasonable; and where it
not useless it is generally hurtfr
Events have shown that it is not pc
sible adequately to secure the enforc
ment Of any law of this kind by !
partment of Justice has for the last to-
wears devoted more attention to tt
enforcement of the antitrust legislai'
81 than to anything else. Much has be-
accomplished; particularly marked h
been the moral effect of the prosec
tions; but it is increasingly evident tn
there will be very insufficient ben
uc1di ICStlG Ill G1lo way "
change. The successful prosecution
one device to evade the law Immediate
develops another device to accompll
the same purpose What is needed is Il
sweeping prohibition of every arrane
ment, good or bad, which may tend
IL restrict competition, but such adequa
supervision and regulation as will p7
vent any restriction Of competiti
from being to the detriment Of the pit
;lic-as we'll as, such supervision a
regulation as will prevent other abus
in no way connected with RESTRICT
Of competition. Of these abuses, p
3 haps the chief, altho by no means
j only one, is decentralization
erally itself the result of dishonest p
motion-because of the myriad evils
brings in it's train; for such overcapit
ization often means an imitation tt
54 invites business panic; it always G.
ceals the true relation of the pre-
earned to the capital actually invest
and it creates burden Of interest p:
II ments which is a fertile cause OF
j proper reduction in or limitation
wages; it damages the small invest
disccurages thrift, and encoural
rambling and speculation; while p
haps worst of all is the thickness. q
dishonesty which it impiies-for ha
"a to morals is worse than any posi-
la3 harm to material interests, and the
bauchery Of politics and business
treat dishonest corporations is far wo
fflonaanv actnal material evil they