Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1907-12-10
MESSAGE OF
THE PRESIDENT

IHE PRES|UEN |
The president in his message to con.
gress says:
No nation has greater resources than
ours. and | think il can he truthfully
said that the citizens Of no nation pos
SesS greater energy and industrial abil.
.ty. In no nation are the fundamental
business conditions sounder than in
ours ut this very moment, and ii is
foolish when such is the case for peo-
pie TO hoard money instead Of keeping
ii IN sound banks. for it is such hoard
ing that is the Immediate occasion Of
money strlngency. Moreover. as Il
rule. the business Of our people is con-
Quoted with honesty and prObity. and
this applies alike to farms and fac.
tories to railroads ana banks. TO all our
legitimate commercial enterprises.
In any large body Of men. however,
there are certain to be some who are
such that these men prosper or commit
their misdeeds with impunity their
example is Il very evil thing for the
community. Where these men are
business men of great sagacity and Of
temperament both INSCRIPTIONS and
reckless. and where the cOnd. .tions are
such that they act without supervision
or control and at first without effective
check from public opinion. they delude
many innocent people into making in
vestmentS or embarking in kinds OF
business that are really unsound.
When the misGeeds Of these success
fully dishonest men are discovered. suf-
fering comes not only upon them. but
upon the innocent whom they have
misled.
There may be honest differences Of
opinion rs TO many governmental poll
cies. but surely there can be no such
differences as to the need Of unfiinch-
ing perseverance in the war against
successful dishonesty.
Interstate Commerce
The founders of the constitution pro-
vided that the national government
should have complete and sole control OF
interstate commerce. The interstate
commerce by water is insignificant
compared with the amount that goes
by land, and almost all big business
concerns are now engaged in interstate
commerce. AS a result it can he but
partially and mperfcctiy controlled or
regulated by the action OF any one OF
the several safes. Only the NJ onal
govcrnmCn; can in thoroughgOiEg
fashion exercise the needed control.
There must be no halt in the healthy
constructive course of action which tll.S
nation has elected TO pursue ami luS
steadily pursued during the last SIX
years. aS shown both N the legislation
of the congress and the administration
of the law by the department Cf juS-
ticc.
The most vital need is in connection
with the railroads. AS 10 II, 50. in my
Judgment. there should now be either
a national incorporation act or Il law
licensing railway companies to engage
in Interstate commerce upon certain
conditions. Until the national govern
mcnt assumes proper control Of inter-
state commerce in the exercise of the
authority it already possesses il Will he
impossible either TO give to or To get
from the railroads full justice.
hc En'-Trus, Law
from the railroads full justice. The
railroads and all other great corpora
tons will do well 10 recognize that this
control must come The only question
Is as to what governmental body can
most wisely rX, X,rc!Sc it,
Moreover. in my judgment. there
should he additional legislation looking
TO the proper control of the great bust
ness concern, engaged in Interstate
business. this control to be exercised
for their own benefit and prosperity no
less than for the protection Of inyes-
tors and of the general public. Modern
Industrial conditions are such that COM
bination Is not only necessary, but in
evitabe. Corporation and labor union
alike have come 10 stay. Each If prop
erly managed is Il source Of good and
not evil. Whenever in either there is
evil II should he promptly held TO ac-
count. bu, ii should receive hearty en-
coura cement SO long rs il is properly
managed.
The antitrust law should not be re-
peaed. but il should be made both
more efficient and more in harmony
with actual conditions. Ii should not
prohibit combinations that do no injus-
tice to the public. still less those the
existence of which is on the whole Of
benefit to the public But even If this
feature of the law were abolished there
would remain aS an equally objection
able feature the difficulty and delay
| now incident 10 it enforcement. The
design should be 10 prevent the abuses
incident to the creation Of unhealthy
land improper combinations instead Of
waiting until they are in existence and
then attempting to destroy them by
civil or criminal proceedings.
Law Should 3" Explicit
| 4 combination should not be tOlerat-
I'd if II abuse the power acquired by
combination TO the public detriment.
The law should make lis prohibitions
land permissionS rs clear and definite
as possible. leaving the least possible
room for arbitrary action or allegation
If suril action on the part of the eXecu-
tive or of divergent interpretations by
TIE courts.
| Among the points 10 he aimed at
should be the prohibition Of unhealthy
| compet ton. Reasonable agreements
lhctween or combinations of corpora
lions should he permitted provided they
are first submitted to ana approved
by some appropriate government body.
The congress has the power to char
ter corporations TO engage in Interstate
land foreign commerce. and 4 general
Jaw cI" .r .......... tH' P'O''
tions &C Ai II CX.....Ie: '..poiaiiGns