New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-02

investor. discourages thrift and encourages
gambling and speculation; while perhaps worst
of all Is the thickness and dishonesty which IL
implies-fOr harm to morals is worse than any
possible harm to material interest and the de-
bauchery OF politics and business by great dis
honest corporations is far worse than any
actual. material evil they do the public. Until
the national government obtains In some man
ner which the wisdom OF the Congress may s1g-
gest, proper control over the big corporations
engaged In Interstate COmmerce-that IS, over
the great majority Of the big cOrpOrations-it
Will be impossible TO deal adequately with these
evils. This power to regulate rates,
like all similar powers over the business world,
should be exercised with moderation, caution
and self-restraint; but IL should exist. so that
it can be effectively exercised when the need
arises. I do not believe in the govern
ment undertaking any work which can with
proprtety be left in private hands; but neither
do believe In the government hinching from
overseeing any work when 1t becomes evident
that abuses sure to obtain therein, unless
there Is governmental supervision.
The best possible regulation OF rates would. OF
course, be that regulation secured by an hon
est agreement among the railroads themselves
70 carry out the law. Such a general agree
to the efforts Of any big shipper or big
railroad TO discriminate against or secure adj
Vantases over some rival: and such agreement
would make the railroads themselves agen>s
for enforcing the law. The power vested in the
government 20 put a stop TO agreements to the
detrtment OF the public should. in my Judgment
be accompanied by power to permit under speci-
fed conditions and careful supervision agree
ments clearly In the interest Of the public.
But IN my Judgment the necessity for giving
this further power Is by no means as great as
the necessity for giving the commission or ad-
ministrative body the other powers I have
enumerated above; and il NAV we'll he Jna5
visable TO attempt 20 vest this particular mower
IN the commission or other administrative BODY
until IL already possesses and IS exercising,
what regard as by far the most important Of
an the powers recommend-as. indeed the
vitality important pOWer-that To fv q oivoD
maximum rate, which rate after the Isnsa ~ q
reasonable time. goes into fun effect. subject to
review by the courts.
A system 20
should be provided similar TO that now con-
Quoted In the national banks by the bank ex
II they had proper direction ana prOper a1'tbor'
ity to inspect books and papers cOIId acco11
plish much in preventing wilful violations of
NO HOSTILITY TO ROADS.
Let me most earnestly say that these recom
mendatiOns are not made In any spirit OF hos
tility 10 the railroads I believe that ~, chs
whole our railroads have done well and not I'M
but the railroad men who wish to do well shOuld
not be exposed to competition with those who
have no such desire. and the only way to se-
tribunal the power to see that Justice As done bv
the unwilling exactly as 1t Is gladly done by
best type OF railroad man and the bes tV " 'S ne
shipper no less than OF the public that there
should be governmental supervision and regu-
the same reason that IL Is IN the Interest OF
the corporation which wishes to treat it's en-
ployes Alright that there should be an effective
employers liability act. or an effective system
Of factory laws 70 prevent the abuse OF women
and children We wish 70 insure as fair treat
ment for the small town as for the big city, for
the small shipper as for the big shipper
II Is because. In my Judgment, public owner-
ship Of railroads 10 highly undesirable and
would probably In this country entail far reach
ing disaster that I wish 70 see such super
vision and regulation OF them IN the interest
OF the public as will make IL evident that there
Is no need for public ownership. Tho oppO-
nents OF government regulation dwell upon the
difficulties TO be encountered ana the intricate
and involved nature OF the problem Their con-
tention Is true IL Is a complicated and delicate
problem. and all kinds Of difficulties are sure
10 arise In connection with any plan of SOlu-
ton while no plan will bring all benefits hoped
for by its optimistic adherents. But while
/ fully admit the difficulties IN the way I do
not for a moment admit that these difficulties
warrant US In stopping In our effort 20 secure
a wise and just system At present we
face such utter lack OF supervision, such free
dom from the restraints OF law, that excellent
tmen have often been literally forced into doing
what they deplored because otherwise they were
left at the mercy Of INSCRIPTIONS competitors.
To ran az and assal the men who have done as
pllshes little. What need TO do Is 20 develop
an orderly system, and such a SYSTEM can only
come through the gradually increased exercise
OF the right Of efficient government control
STATE CONTROL INEFFECTIVE.
In his message to Congress at the beginning
Of the second session OF the seth Congress. De-
cenber 2, 1906. the President said:
The Interstate Cornrnsyos law hAs Taxha1