The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1907-10-04

The national convention which fran
ed the constitution, and in which al
most all the most eminent of the first
generation Of American statesmen sat
embodied the theory of the instrument
In a resolution, to the effect that the
national government should have pow
er in cases where the separate states
were incompetent to act will full eff
ficiency, and where the harmony OF
| the United States would be interrupt
ed by the exercise of such individual
Legislation. The Interstate railroad
situation is exactly a case in point.
J There Will, of course be local matters
affecting railroads which can best be
dealt with by local authority, but
| as national commercial agents the big
interstate railroad ought to be com-
pletely subject to national authority.
Only thus eau we secure their complete
subsection TO, and control by, a single
sovereign representing the whole peo-
pie, and capable both OF protecting the
public and seeing that the railroads
neither infict nor endure injustice.
Personally | firmly believe that
there should be national legislation
to control all industrial corpOratnlons
doing an interstate business, incluG
ing the control Of the output OF Their
securities, but as to these the necessi-
ty for federal control is less urgent
and immediate than in the case with
the railroads. Many Of the abuses
connected with these corporations vii!
probably tend to disappear now th2-
the gOvernment-the public-is gIe1-
ually betting the upper hand as IL
| CARDS putting a stop TO h rebates
| and special privileges which some Of
| these corporations have enjoyed at
the hands Of the common carriers.
But ultimately it will be found that
! the complete remedy for these abuses
lies in direct and affirmative action
by the national government. That
| there is constitutional power for the
| national regulation Of these corpora-
| tons I have myself no question.
| TWO Or three generations ago there
was just as much hostility to national
| control Of banks as there is nov to
| national control of railroads or Of in
dustria1 corporations doing an inter-
state business. The hostility now
seems to us ludicrous in it's lack Of
warrant; in like manner, gentlemen.
our descendants will regard with won
der the present opposition to giving
the national government adequate
power to control these great Corpora
tons, which it alone can fully, and
yet wisely, safely, and justly control.
Remember also that to regulate the
formation Of these corporations ofe"5
one Of the most direct and eficieTt
tu1ethods of regulating their actlvl-
ties.
I am not pleading for an extension
Of constitutional power. I an plead
ing that constitutional power which
already exists shall be applied to new
conditions which did not exist when
the constitution went into being ]
ask that the national powers already
conferred upon the national govern
ment by the constitution shall De 50
used as to bring national commerce
and industry effectively under the
authority Of the federal government
and thereby avert industrial chaos
NV plea is not to bring about Il n
ton of Capitalization. 1t IS that the
government shall recognize a conait1on
of Capitalization in a field where II
ALREADY exists. When the national
banking law passed it represented III
reality not Capitalization, but recog-
milton of the fact that the country
had so far advanced that tie currency
was already a matter of national con
Germ and must be dealt with ny -he
central authority at Washington. 81
it is with interstate industriallshl ano
esneciallv with the matter or Inter
state railroad operation today. Cen
tralization has already taken place IN
the world of commerce and lnuustly'
All I ask is that the national govern
ment look this fact in the face, accep'
II as a fact, and fit itself accordlnsis
for a policy Of supervision n con
troll over this centralized commerce
and industry.