Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1907-12-03

kind, and stilF more that they have
iu part sought to prohibit what could
not be effectively prohibited. and
have in mart i'm their prohibitions
confounded what should be allow
ed and what should not be allowed.
II is generally useless 10 try to pro-
hibit all restraint on competition,
whether this restraint be reasonable
or unreasonable; and where 1t is not
useless ii is generally hurtful.
The successful prosecution of one de-
vice to evade the law Immediately
develops another device to accom-
plish the same purpose. What is
needed is not sweeping prohibition
of every arrangem ent, good or bad,
which may tend t. restrict competi-
don, but such adequate supervision
and regulation as will prevent any
restriction of competition from being
to the detriment of the public, as
well as such supervision and regula-
ton as win prevent other abuses in
no way connected with restriction of
comp petition"
I have called your attention in
these quotations to what l have al
ready said because / am satisfied
that il is the duty of the national
government to embody in action the
principles thus expressed.
Interstate Commerce.
No small part of the trouble that
we have comes from carrying to an
extreme the national virtue of self
reliance, of independence in initiative
and action. II is wise to conserve
this virtue and to provide for its
fullest exercise, compatible with see
ing that liberty does not become a
liberty to wrong others, Unfortu-
nately, this is the kind of liberty that
the lack of all effective regulation in
evitably breeds. The founders of the
constitution provided that the ma
tional government should have COM
plete and sole control of interstate
commerce. There was then practi-
cally no interstate business save such
as was conducted by water, and this
the national government at once pro-
ceeded TO regulate in thorough going
and effective fashion. Conditions
have now so wholly changed that the
interstate commerce by water is in
significant compared with the
amount that goes by land, and al
most all big business concerns are
now engaged in interstate commerce.
As result, it can be but partially
and imperfecuy controlled or regu-
lated by the action of any one OF
the several states; such action in
evitably tending to be either too
drastic or else too lax, and in either
tice. Only the national government
can in thoroughgoing fashion exer-
else the needed control This does
not mean that there should be any
extension of federal authority. for
such authority already exists under
the constitution in amplest and most
far-reaching form; but II does mean
that there should be an extension
of federal activity. This is not ad-
Vocating Capitalization. 1t Is merely
looking facts in the face, and realiz-
ing that Capitalization in business
has already come and can not be
avoided or undone, and that the pub
lie at large can only protect itself
from certain evile effects of this busi-
ness Capitalization by providing bet
ter methods for the exercise of con-
troll through the authority already
centralized I'm the national govern
ment by the constitution itself There
must be no halt in the healthy con-
structive course of action which this
nation has elected 20 pursue, and has
steadily pursued, during the last six
years, as shown both in the legis-
lation of the congress and the admin
istratiOn of the law by the depart
ment of justice. The most vital need
Is In connection with the railroads
As 10 these, in my judgment there
should now be either a national in
tbippid dlIon act OF a Jaw licensing
railway companies to engage in in
terstate commerce upon certain con-
ditions The law should be so
framed as 10 give to the interstate
commerce commission power TO pass
upon the future issue OF securities,
while ample means should be pro-
vided to enable the commission,
whenever in its judgment IL Is neces-
sary, TO make a physical valuation Of
any railroad. AS I stated in my mes
sage to the congress a year ago, rail-
roads should be given power to en-
ter into agreements, subject to these
agreements being made public In
minute detail and 10 the consent OF
the interstate commerce commission
being first obtained Until the ma
uonal government assumes proper
control of interstate commerce, In
the exercise OF the authority It al
ready possesses, II will be impossible
either 10 give to or to get from the
railroads full justice. The railroads