The Washington herald., 1907-12-04
inc prcsident,s Messarc


President Roosevelt's preOccupation
with economic questions. and particular
ly with the relation of the national gov
ernment TO the solution OF such ques-
tions dominates his annual message even
more strongly than it did his former
communications to Congress. most Of
which have been distinguished by their
frank recognition of our industrial and
commercial evils. and of the necessity
for considerable enlargement of state
functions in order TO cope successfully
with them Over One-thlrd Of the pres
ent message, or twenty-four pages out Of
sixty-three, is devoted to the development
of his corporation policy. to a restate-
ment of his belief in the social advan-
tages of income and inheritance taxation.
to discussion Of various aspects of the
labor problem. 10 setting forth the value
Of mechanical and industrial education.
and the like. We may note a slightly
less militant tone in the Presidents OBJ
servations as TO these matters than is
his wont, but there is no abatement of
purpose. and through them all there runs
the abiding conviction that the primary
stituted viii not be fully attained until
ways have been found to apply ancient
principles of justice to those who com
nit crimes only rendered possible by the
complex conditions Of modern life
Opinions may differ as to the wisdom
or the expediency OF Mr.. RooseveIt's
economic proposals; there will be no
doubt as 10 the ends aimed at, or as to
the means by which he would attain his
ends. The President is n thoroughgoing
nationalist, as well as a firm believer in
the efficacy Of State action to accomplish
social and economic reforms. On almost
every page Of his message may be found
some suggestion for what ne calls "ex
tension OF Federal activity" His plans
for the regulation of railroads and of in
dustrial corporations through a Feueral
incorporation law are familiar to the
public. Mr.. Roosevelt entertaIns no Doubt
as TO the existence Of Federal power 10
charter such corporations. and his con-
Viction that the legislation he proposes
would benefit railroad and other cor
porations is equally pronounced. As an
ticipated. he recommends the amendment.
trust law, so as to permit reasonable
combinations for the carrying on of
trade and industry. and he repeats his
advice Of last year that the railroads be
allowed to enter into traffic agreements
under supervision OF the Interstate Com
merce Commission. These recommenda-
tons do not carry with them any inten-
ton Of relaxing the projected Federal
authority over corporations for the Pres
ident offers a number Of regulatfve meas
ures Of very stringent character. To place
on the statute books the corporation
legislation outlined by Mr.. Roosevelt
would be a task of unusual magnitude.
We have no idea that he hopes for the
enactment of more than a mere fraction
of It.
With respect to the currency. the Presi-
dent renews his hesitant expression of
last December. with some additions that
serve 10 cloud the subject. II there has
been expectation in any quarter of definite
Executive leadership in currency reform.
it will be grievously disappointed at find
ing ex-Secretary Shaws asset currency
scheme and Treasurer Treats bond-se-
cured emergency currency plan mention
ed in the same breath, as IL were. as II
tie two were not fundamentally opposed
in principle. However. the President
urges immediate action for the provision
Of an elastic currency. and he is oh
viously content to leave the entire subject
with Congress. which has the final voice
in the matter anyway.
We rejoice that the President has Il
last broken his long silence on the tariff
question. even though he does so only by
way OF preface to his income and in
heritance tax projects. That he has any
conception whatever Of the great oppor-
tunity for reform involved in the abuses
OF the protective tariff. or that he has
been impressed by the representations Of
manufacturers as to the need Of tariff
revision in the interest of foreign trade
there IS no evidence in his cautious para
graphs remitting the whole subject to the
indefinite future known to standpatters
as after the election" Mr. Roosevelt
doesn't favor duty on works of art or
a duty or forest products and wood pulp
but what has become Of the recommenda-
SION he was going to make for the re-
moval OF the duty on print paper? Did
cannon. Dalzen and Payne squeIch that?
notwithstanding the radicaIism of its
economic proposals when considered in
their entirety. there is nothing in the
message to alarm or disquiet either wild
ows and orphans or millionaire captains
Of industry. Whether it will be reassur
ing to the business world depends some
what on the point of view. II govern
ment regulation Of corporations is dan
gerous to the public welfare. then the
Presidents continued agitation of that
question is full Of menace; II not. then
the constructive solution he proposes. be-
ing preferable TO destructive measures.
promises the assurance Of sound indus
trial development and a harmonious CO.
operation of the better forces of our in
dustrial civilization with the legitimate
regplative functions OF the state Nobody
should take fright at righteous effort to