The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-12-05
PRESIDENT s
MESSAGE
Continued from Second Pase.)

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CONTINUED from Second Page.)
much 10 percent consolidation as sucn,
but 50 to supervise and control 1t as
to see that it results In no harm to the
people.
Combination of capital, Ike combina-
ton of labor, is necessary clement OF
our present industrial system. 1t Is
not possible completely to prevent 1t.
and If il were possible such complete
preven''1n would DO damage to the
body pclitic. What we need IS not
vainly to try to prevent all combina-
ton. bat to secure such rigorous and
adequate control and supervision OF
the combinations as to prevent their
injuring the ru1lic or existing in such
form as Inevitably to threaten Injury,
for the mere fact that combination
has secured practically complete con-
troll OF necessary OF life would under
any circumstances show that such
combination was to be presumed to be
adverse to the public interest. 1t is
unfortunate that our present laws
should forbid all combinations instead
of sharply discriminating between
those combinations which do good and
those combinations which do evil Re
bates, for instance. are as often due to
the pressure OF big shippers (ns was
shown in the investigation of the
Standard OIL company and as has been
shown since by the investigation of
the tobacco and sugar trusts) as to the
initiative of big railroads. Often rail-
roads would like TO combine for the
purpose of preventing a big shipper
/ from maintaining improper advantages
at the expense of small shippers and
of the general public. Such combina.
ton, instead of being forbidden by law,
should be favored. In other words, 1t
should be permitted to railroads. to
make agreements, provided these agree
ments were sanctioned by the inter-
state commerce commission and were
published. With these two conditions
complied with it is impossible to see
what harm such a combination could
do to the public at large
Inheritance and Income Tax.
The national government has long
derived its chief revenue from tariff
on imports and from an internal or eX-
else tax. In addition to these there is
every reason why. when next our sys-
tenn OF taxation Is revised, the national
government should impose q graduated
inheritance tax and, if possible, grad
uated income tax.
am we'll aware that such subject
as this needs long and careful study in
order that the people may become IA
miliar with what is proposed to be
done, may clearly see the necessity Of
proceeding with wisdom and self re-
straint and may make up their minds
just how far they are willing to go in
the matter. while only trained legisla-
tors can work out the project in neces
sary detail. But feel that in the near
future our national legislators should
enact law providing for graduated
Inheritance tax by which a steadily in
creasing rate Of duty should be put
upon all moneys or other valuabIes
coming by gift, bequest or devise to
any Individual or corporation. There
can be no question Of the ethical pro-
prIety Of the government thus deter
mining the conditions upon which any
gift or Inheritance should be received.
AS the law now stands 1t is undoubt-
eddy difficult to devise a national in
come tax which shall be constitutional.
But whether it Is absolutely impossible
Is another question, and if possible it
is most certainly desirable. The first
purely income tax law was passed by
the congress in 1861, but the most i'm
portant law dealing with the subject
was that Of 1894. This the court held
to be unconstitutional
The question is undoubtedly very in
tricate, delicate and troublesome. The
decision OF the court was only reached
by one majority. 1t is the law of the
land and of course is accepted as such
and loyalty obeyed by all good citizens
Nevertheless the hesitation evidently
felt by the court as whole in coming
to a conclusion, when considered to-
gether with previous decisions on the
subject, may perhaps indicate the pos
sibility of devlsing constitutional in
come tax law which shall substantially
accomplish the results aimed at The
difficulty Of amending the constitution
! Is so great that only real necessity can
| Justify resort thereto. Every effort
| should be made in dealing with this
subject, as with the subject OF the
proper control by the national govern
ment over the use Of corporate wealth
In interstate business, to devise legis-
latiOn which without such action shall
| attain the desired end. but il this fails
there will ultimately be no alternative
( to constitutional amendment.
Industrial Training.
Our Industrial development depends
largely upon technical education. in
Guiding in this tern all industrial edu-
cation, from that which fits a man to
be I good mechanic, good carpenter
| or blacksmith to that which fits man
to do the greatest engineering feat.
The skilled mechanic. the skilled work
man, can best become such by tech
meal Industrial education. The far
reaching usefulness of institutes of
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