Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1907-12-05
H |lNNVN0 THEODORE ROOSEVELT

the iegIslation OF the congress ana the
administration Of the law sby the de-
partment of justice. The most vital
need 10 in connection with the railroads.
As to these, in my judgment there
should now be either a national incor-
poration act or a law licensing railway
companies to engage in interstate COM
merce upon certain conditions. The law
should be SO framed as to give to the
interstate commerce commission power
to pass upon the future issue of seeuri-
ties, while ample means should be pro-
Vided to enable the commission when
ever in its judgment 1t Is necessary, to
make physical valuation OF, any, rail-
road AS stated in my message to the
congress a year ago, railroads should
be given power to enter into agree
ments subject to these agreements be-
ing made public In minute detail and 20
the consent of the interstate commerce
commission being first obtained. Until
the national government assumes
proper control of Interstate commerce,
In the exercise of the authority 1t al
ready possesses. IL will be impossible
either to give to or to get from the
railroads full justice. The railroads
and all other great corporations will
do well to recognize that this control
must come; the only question Is as to
what governmental body can most
wisely exercise 1t. The courts will de-
termine the limits within which the
federal authority can exercise it, and
there will still remain ample work
within each state for the railway COM
mission Of that state; and the national
Interstate commerce commission will
- Al. luka ka
commissions, each within its own prov
ince. to achieve the desired end.
Go,
""S"es' Oo"ce"S OFseu'
Moreover, in my judgment there should
be additional legislation looking to the
proper control Of the great business con-
Germs engaged In interstate business, this
control to be exercised for their own
benefit and prosperity no less than for
the protection Of investors and Of the
general public. As l have repeatedly
said in messages to congress and else
where, experience has definitely shown
not merely the unwisdom but the futillty
of endeavoring to put stop to all busi-
ness combinations. Modern Industrial
conditions are such that combination is
not only necessary but inevitable. 1t is
so In the world of business Just as It Is
40 in the world of labor. and 1t is as idle
to desire to put an end to all corpora
tions. to ali big combinations of capital,
as 10 desire to nut an end to combina-
49, ~ iahor CornoratIop and labor
union aiura have come to atav Each II
s,,'a.,a.,,, ,,.nssed "a . Sourcs of good
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sransesS =, - nrosoundIv tmmoral To
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scroIraIIv n tha interest Of public moral
i,x thst rsaiIv nuts a premium upon
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terhiS hon.St v,sn from doing what must
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