The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1907-12-05

FuDllc Analr a Duty That APP
plies to All.
The substance of the annual mes
sage of President Roosevelt is given
as follows:
To the Senate and House of Repre-
sentatiyes:
No nation has greater resources
than ours, and | think it can be
%truthfully said that the citizens of no
nation possess greater energy and in
dustrial ability. In no nation are
sounder than-in ours at this very me-
ment; and it is foolish, when such is
the case, for people to hoard money
instead Of keeping it in sound banks;
Tor it IS such boarding that is the
immediate occasion of money strin-
gency. Moreover, as a rule, the bust
ness of u people is conducted with
honesty and probity, and this applies
alike to farms and factories, to rail
roads and banks, to all our legitimate
commercial enterprises.
Our steady aim should be by leeiS-
~lation, cautiously and carefully I'M
dertaken, but r~esolutely ~persevered
IN, to assert the sovereignty of the
National Government by affirmative
action.
Interstate Commerce.
No small part of the troubIe>that
We have mt from carrying to an
extreme the national virtue of self
reliance, of independence in initiative
and action. 1t is wise to conserve
this virtue and to provide for its
fullest exercise, compatible with see
ing that liberty does not become a
liberty to wrong others. Unfortun-
ately, this IS the kind of liberty that
the lack of all effective regulationI
inevitably breeds. The founders Of
the Constitution provided that the
National Government should have
complete and sole control of inter
state commerce.
Only the National Government can
IN thoroughgoing fashion exercise the
needed control This does not mean
that there should be an extension of
Federal authority, for such authority
already exists under the Constitution
IN amplest and most f~ar-reaching
form; but it does mean that there
should bean extension of Federal
activity. This is not advocating GEN.
~tralization. 1t is merely looking facts
IN the face, and realizing that GEN.
trallzation in business has already
come and cannot be avoided or un-
done, and that the public at LARGE
can only protect itself from certain
evil effects of this business c~entrali-
cation by providing better methods
Tor the exercise of control through,
the authority already centralized in
the National Government by the Con
stitution itself.
Sherman Antitrust Law.
Moreover, in my judgment there
shonld be additional legislation look.
ing to the proper control of the great
business concerns engaged in inter
state business, this control to be OK.
erclsed for their own benefit and
prosperity no less than for the pro.
lection Of investors and of the oen.
eral public. As | have repeatedly
SAID IN Messages to-the Congress anJ
elsewhere, experience has definitely
shown not merely the unwisdom but
the-futlllty of ~endeavoring to put al
stop to all business combinations
Modern industrial conditions are {
such that combination is not onI1
neccessady but enevitable. It is So II
the world OF business just as it is Sc I.
IN the world of labor, and it is AZ,
IDLE to desire to- put amend to all :
corporations to all big combinations !
OF capital, as to desire to put an enc
te combination of labor. Corporation
n labor union alike have come t.
stay.
The antitrust law should not be ra !
pealed; but it should be made botl
.more1efficient and more in harmony !
with actual conditions. It should BE- :
SO amended as to forbid only tho :
kind of combination which does harm :
TO the general public, such amend
ment to be accompanied by, or he !.
an incident of, a grant of supervi. :
sorry power to the Government Owe, ;
Inese pig concerns engaged in inter
state business. This should be ac
companled by provision for the com.
puisory publication Of account an, 7
4 subJeet1on of books and paper Q
70 n inspection of the Government '
officials. S
The antitrust law should not pro v
hlb1t combinations that do no inius e
tee to the public, still less those the $
existence Of which is on the whole Il
OF benefit to the public. n
A combination should not be tole
rated II it abuse the power acquired
by combination to the public detri b
ment. No corporation or association n
OF any kind should be permitted te f
engage L foreign o interstate com. 81
nerce that is formed for the purpose ii