The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-12-12
SUGGESTS REMEDIES FOR ILLS
CONTROL OF CORPORATIONS AND
RAILROADS TO PREVENT
DECENTRALIZATION.
Believes This Would Solve the Prob
lem Together with Provision for
More Elastic Currency-Recom-
mends Postal Banks and Asks for
Legislation Along Many Lines.


2ooseyelt's annual message to congress
. voIuminous document of nearly
ID. 900 words, by far the longest mes
age he has ever submitted to congress.
rhe opening subject of the message Is
he financial condition of the country.
md for which the president lays much
If the blame upon INSCRIPTIONS stock
and says:
In any large body of men. however
here are certain to be some who are
D dishonest, and If the conditions are
Iuch that these men prosper or COM
hit their misdeeds with impunity, their
Example is very evil thing for the
sommunity Where these men are bust
pss men of great sagacity and of tenn
berament both INSCRIPTIONS, and reck-
ess, and where the conditions are such
hat they act without supervision or
(ontrol and at first without effective
heck from public opinion, they delude
bany innocent people into making in
festments or embarking in kinds OF
business that are really unsound
khen the mi sdeeds of these successful
J dishonest men are discovered. suf-
Bring comes not only upon them. but
hon the innocent men whom they
ave misled. 1t is a painful awakening
fhenever 1T occurs; and. naturally,
then it does occur those who suffer
Re apt to forget that the longer 1T was
Rlerred the more painful it would be
: the effort to punish the guilty 1t Is
bth wise and proper to endeavor sc
IN as possible to minimize the dis
ess of those who have been misled by
e guilty. Yet it is not possible to
frain because of such distress from
irving to put an end to the misdeeds
at are the ultimate causes of the suf-
ring. and. as means to this end
here possible to punish those re-
pnsible for them. There may be hon
differences of opinion as to many
vernmental policies; but surely there
be no such differences as to the
I'D of unflinching perseverance in the
r against successful dishonesty"
he quotes at length from his mes
re of last year in which he advo-
ed federal control of. corporations
ng interstate business. and believes
It in such control would be found the
hedy for overcapitalization and
ok speculation which he believes
Re brought about the present finan-
conditions. He says:
Our steady aim should be by legis-
on, cautiously and carefully under
en. but resolutely persevered in. tc
ert the sovereignty of the national
iernment by affirmative action.
fhis is only in form an innovation
substance it is merely a restoration
from the earliest time such regula
of industrial activities has beer
pgnized in the action of the law.
ling bodies; and all that / propose
% meet the changed conditions ir
manner as will prevent the com
mn ia
lys possessed, not only in this coun-
but also in England before an6
this country became a separate
pm.
raj Control of
roads Is Favored.
10 small part of the trouble that we
comes from carrying to an ex-
e the national virtue of self-re.
e. of independence in initiative
Pction. 1t is wise to conserve this
and to provide for it's fullest ex-
F, compatible with seeing that lib
does not become a liberty te
others Unfortunately. this is
find of liberty that the lack of al
i've regulation inevitably breeds
founders of the constitution pro-
that the national government
nave complete and sole control
Pterstate commerce. There was
practically no interstate business
such as was conducted by water
ms the national government al
proceeded to regulate in thorough
ana effective fashion. Condi-
nave now so wholly changed thai
terstate commerce by water is in
cant compared with the amount
foes by land, and almost all big
IS concerns are now engaged ir
pate commerce. AS result /,
out partially and imperfectly
liied or regulated by the action OF
ie OF the several states; such ac.
fitaply tending to be either toe
or else too lax. and in eithe,
ieHectiNe for purposes of Justice
me national government can in
ghgoing fashion exercise IN,
control. This does not mea
lere should be any extension OF
authoflty, for such authority
eNlsts under the constitution in
anu most far-reaehing form
'e9 mean that there should be
ASioh OF federal activity. This
"uNoeatlng Capitalization. 1t Is
-VVNlhs FACTS in the face, and
mat Capitalization in business
come and can not be avoid
ana that the public a,
a, a" ohIy protect itself from GER
cnects or this business cen.
- providing better methods
NefClse or control through III.
already centralized in Tbs
government by the eons,i,,,
Ell There must be No ~
NuS constructive course 81
-" this nation has elactad e
a"u mas steadily pursued A.
-. - nix Years, as shown bo,b 4,
trstto oi the congress and the
VI the law by the de.
n - '"stice- The most vital
4 80 ''oh with the railroads
o7,, al my Judgment thers
90, either a national incor-
= - law licensing railway
y por usage IN interstate com.
y 60 an conditions. The Ia "
> co-,,-'.ieu as to give to tins
ppon 50 - commission power
'hs future issue of sac,,r,
y iple means should he -
n - the commission W..
3 nient it is necessar.
So. 80 valuation of any rail-
80 N my message IN tho
-, ago, railroads sbo,,Is
NJ. 10 enter into aprsa-
rutIt 'Hess agreements he
2 hi, -. :" minute detail ana :.
I sn - interstate comnaroo
o,s, ing hrst obtained Trnts,
ntrnl government assnrss
ercS~. OF interstate commarna
- esessss Of the authority II =,
III 81 gi,.s 1t will be imnoss;Si.
- full ins, or to get from the
btbs- Justice The raiIrosse
reoass reat corporations ~s,1
he.
~ yernraoniy question is as =, =,
Ircis4 'T - body can mos
b. lit ~ The courts will nS Sa
ptbors,.its within which tso
- stiti can exercise If me ns
b s,a remain annie ahd