The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-03


premium upon public immortality, by
undertaking to forbid honest men
from doing what must be done under
modern business conditions, SO that
the law itself provides that its own
infraction must be the condition pre-
cedent upon business success. To aim
at the accomplishment of too much
usually means the accomplishment OF
too little, and often the doing of posi-
tive damage. In my mes5age to the
congress a year ago, in speaking of the
antitrust laws, L said:
1.-THE actual working of our laws
has shown that the errorr to prohibit
all combination, good bad, is
noxious where it is not ineffective.
Combination of capital, like combina-
ton of labor, is q necessary element
In our present Industrial system. 1t is
not possible completely to prevent it,;
and if it were possible, such complete
prevention would do damage to the
body polite. What we need is not
vainly to try to prevent all combina-
ton, but to secure such rigorous and
adequate control and supervision of
the combinations as to prevent their
injuring the public, OF existing in such
forms as inevitably to threaten in
jury. It is unfortunate that
our present laws should forbid all
combinations instead of sharply dis
eliminating between those combina-
tons which do good and those COM
binationS which do evil. Of
ten railroads would like to combine
for the purpose of preventing a big
shipper from maintaining improper
advantages at the expense of small
shippers and of the general public.
Such a combination. instead of being
forbidden by law. should be favored.
on the statute books a law incapable
OF full enforcement. because both
judges and turtes realize that Its full
enforcement would destroy the bust
ness of the country; for the result is
to make decent men vtolators of the
Jaw against their will, and to put a
premium on the behavior of the will
3ul wrongdoers. Such a result in turn
tends to throw the decent man and
the wil1fu1 wrongdoer into close as
ISOLATION, and in the end to drag
down the former to the latter's level;
for the man who becomes q law
breaker In one way unhappiiy tends
TO lose all respect for law and to be
willing to break it in many wayF. No
more Scathtn6 condemnation could be
visited upon a law than is contained
in the words of the Interstate Com
meroe commission when. in comment
ing upon the facr that the numerous
joint traffic asso Citations DO technically
violate the law. they say: The de-
oision Of the United States supreme
court in the rans-Missouri case and
the Joint Traffic association case has
produced no practical effect upon the
Suoh associations. in fact, exist now
as they did before these decisions,
and with the same general effect. In
Justice to all parties, we ought prob
ably to add that it is difficult to see
how our interstate railways could be
operated with due regard to the in
terest of the shipper and the railway
without concerted action of the kind
Afforded through these associations
This means that the law as con-
gtrnad iG
that the business OF the country can
not be conducted without breaking
Has Said It Over and Over.
As have elsewhere said:
"All this is substantially what
have said over and over again. Sure
iy it ought not to be necessary to say
that 1t in no shape or way represents
any hostility to corporations as such.
On the contrary, 1t means a frank
recognition of the fact that combina-
tons of capital, like combinations of
labor, are a natural result of modern
conditions and of our national de-
velopment. AS far as in my ability
lies my endeavor Is and will be to pre-
vent abuse of power by either and to
favor both so long as they do well.
The aim of the national government
is quite as much to favor and to pro-
tect honest corporations, honest bust
ness men of wealth, as 10 bring to JUS
tice those individuals and corpora
tons representing dishonest methods.
Most certainly there win De no relaxa-
ton by the government authorities in
the effort to get at any great railroad
ewfndling devices robs investors, op-
presses wage-workers, and does in
Justice to the general public. But any
such move as this Is in the interest
Of honest railway operators, of hon
est corporations, and of those who
when they invest their small savings
In stocks and bonds, wish to be as
sured that these will represent money
honestly expended for legitimate bust
ness purposes To confer upon the
national government the power for
which I ask would be a check upon
overcapitalization and upon the clever
gamblers who benefit by overcapitah-
cation. But 1t alone would mean an
increase in the value, an increase in
the safety of the stocks and bonds of
1aw-abiding, honestly managed rail-
roads, and would render 1t far easier
TO market their securities. I believe
complaint of some OF the investiga-
fions recently carried on, but those
who complain should put the blame
where It belongs-upon the misdeeds
upon the Investigations which brought
them to light. The administration is
responsible for turning ON the light,
but It is not responsible for what the
light showed. I ask for full power to
be given the federal government be-
cause no single state can by legisla-
ton effectually cope with these
powerful corporations engaged in in
terstate commerce. and, while doing
them full Justice, exact from them in
return full Justice to others. The con-
ditions of railroad activity. the condi-
4ions Of our immense interstate COM
merce, are such as to make the GEN.
trail government alone competent TO
exercise full supervision and control.