Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-05-30

tue thorough ness Win WnlCn they dlu
theirs.
Great social and industrial problems
confront US, and their solution de-
mands on our part unfulterlng cour-
age. and Yet q wise, good -natured
self-restraint, 40 that on the one
hand we shall neither be daunted by
difficulties nor fooled by those who
would seek to persuade us that the
difficulties ARE insuperahle: while on
the other and We are not misled into
sowing their rashness or vindictive-
ness. Lot AS Try rs people to show
the Same qualities as we deal with
the industrial and social problems Of
today that Abraham Lincoln showed
when with indomitable resolution. but
with a kindllucss. patience. and COM
mon sense quite as remarkable. he
faced -four weary years OF open war
in front Of calumny, detraction and
intrigue from behind. and Al the end
gave 10 his countrymen whom ne mad
served 50 we'll tho blood hought gift
of q race freed and a nation forever
united.
\ GREAT PROBLEM.
one great problem that We have
before us is to preserve tho rights oC
property; and these can only be pre-
served if we remember that they are
IN less Jeopardy from the socialist and
the anarchist than from the predatory
man OF wealth. II has become evil
dent that TO refuse 10 invoke the
power Of the nation to restrain tho
wrongs committed hy tho man Of
great wealth Who does evil Is not only
.-tu neglect the Interests Of the public
but is to neglect the interests OF the
man Of means who acts hunorably by
his fellows. The power 81 tho ma
ton must be cXulted IA stop crimes
Of cunning no less than crimes or viD-
lcnce There can be no halt in the
course We have deliberately elected To
pursue. the policy OF asserting tho
right of the nation SO far as II has
| the power, 20 supervise and control
the business use Of wealth, especial
| lf in its corporate form.
CONTROL OF COMMON CARRIERS.
Today ] wish to say word to YOU
| about the nrSt and most important
feature Of this task. tho control IT tho
common carriers doing an Interstate
| business; a control absolutely vested
in the nation. while in so far as the
common carriers also transport tho
mails il is, in my opinion. probable
| that whether their business is or is
not Interstate it Is to the same extent
subject 70 federal control. under thar
| clause OF the Constitution granting to
| the national government power to
| establish post roads. and therefore by
! necessary implication power to take
| all action necessary IN order tp keep
item at the highest point of eff
| cheney,
Every federal law dealing with cor
| porations or with railroads thar has
been put upon the statute books dur
ing the last six years has been d step
in advance in the right direction. All
action taken by the administration
under these and the pre-eNisting laws
has been just and proper. Every suit
undertaken during that period has
| been suit not merely warranted but
required. by the facts; a suit I'm the
interest of the people as a whole. and.
| In the longrun. particularly in the
| interest of stockholders as We'll as
In the interest OF business men of
property generally. There can be
no swerving from the course that has
thus been mapped out in the legis-
lation actually enacted and in the
messages in which | have asked for
further legislation. We best serve the
interests of the honest railway men
when we announce that we will follow
out precisely this course. 1t is the
course Of real, OF ultimate conserva-
tism. There will be no halt IN the for
ward movement toward a fun develop
| ment of this policy; ana those who
wish as TO take a step backward or 10
stand still. N their wishes were real
ized, would find that they had invited
an outbreak of the vary radicalism
they fear. There must be progressive
legislative and administrative action
for the correction Of the OWLS which
every sincere man must admit "a have
existed IN railroad management I'm the
past.
FEDERAL CONTROL
Such additional legislation as that fos
which ] have asked In the past. and
fas4l fttuf tsrla la
my message at the opening OF the last
session OF Congress, Is not merely In
the interest of the public, but most
emphatically In the interest Of every
honest railway manager and Of all In
Vesiors or would-be investors in rail-
way securities. There must be- vested
| in the federal government "A full power
OF supervision and control over the
railways doing interstate business.
power In many respects analogous TO
and as complete as that the govern
ment exercises over the national banks,
! II must possess the power to exercise
supervision over the future issuance
OF stocks ana bonds, either through a
national incorporation (Which / should
| prefer or in some similar fashion such
! supervision To include the frank pub
| llcty of everything which would-bo IN
VestoTs and the public at large have "a
| right 10 know. The federal govern
! mont will thus be- able 10 prevent all
oyercapitallzatiOu i'm the future. TO
prevent any man hereafter from plum
! dermg others by loading railway prop
critics with obligations and pOcketing
| the money instead of spending n I'm
| improvements and I'm legitimate cor
porate purposes, and any man acting
| In such fashion should be held to a
| criminal accountability II should be
declared contrary TO public policy
benceforth 10 allow railroads 10 de-
vote their capital 70 anything but the
transportation business. ceTainlv not 10
the hazards OF speculation For the
very reason that we desire 10 favor the
seek 10 discourage the activities OF the
| man whose only concern with railroads
Is to manipulate their stocks,
RAILROAD ORGANISATION,
The business Of railroad organization
1roatInuad IN paRa aeVen