Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-03

the railway operations of the country,
Such associations, In fact, exist now as
the did before these decisions, and with
the same general effect. In justice to all
Is difficult to see how our interstate rail-
ways could be operated with due regard
to the interest of the shipper and the rail-
way without concerted action of the kind
afforded through these associations
This means that the law as construed
by the Supreme Court is such that the
business of the country cannot be con-
Quoted without breaking it."
Recognition Of Facts.
As I have elsewhere said:
"All this is substantially what I have
said over and over again. Surely it
ought not to be necessary to say that
1t in no shape or way represents any
hostility to corporations as such. On tn 2
contrary. 1t means frank recognition of
the fact that combinations of capital, like
combinations of labor. are a natural re-
suit of modern conditions and of our ma
tiOnal DEVELOPMENT. AS far as in. my
ability lies my endeavor is and will be to
prevent 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 protect honest cor
porations. honest business men Of wealth,
and corporations representing dishonest
methods.
Most certainly there will be no relaxa-
ton by the government authorities in the
effort to get at any great railroad wr ecker
any man who by clever swindling de-
vices robs investors. Expresses wage
workers. and does injustice to the general
public. But any such move as this is in
the interest Of honest railway operators,
of honest corporations. and of those
l.1s
ings in stocks and bonds. wish to be as
sured that these will represent money
honestly expended for legitimate business
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 decentralization. But II
alone would mean an increase in
the value. an increase in the safety of the
stocks and bonds of laWaabiding, honestly
managed railroads. AND would render it
far easier to market their securities !
believe in proper publicity.
There has been complaint of some OF
the investigations recently carried on, but
those who complain should put the blame
where it belongs-1upon the misdeeds
which are done in darkness and not upon
the investigations which brought them to
light. The administration is responsible
for turning on the light. but 1t is not re-
sposible for what the light showed. I ask
for full power to be given the federal gov
eminent, because no single state can by
legislation effectualiy cope with these
powerful corporations engaged in inter-
state commerce. and. while doing the m
full Justice. exact from them in return full
justice to others. The conditions Of rail-
road activity. the conditions OF our i'm
mense interstate commerce. are such as
to make the central government alone
competent to exercise full supervision and
control.
Excite Popular Anger.
"The grave abuses in individual cases
Of railroad management in the past rep
resent wrongs not merely to the general
public but. above all. wrongs to fair-deal-
ing and honest corporations and men OF
wealth, because they excite a popular
anger and distrust. which from the very
nature of the case tends to include in the
sweep of--its resentment good and bad
alike. From the standpoint of the pub
lie l cannot too earnestly say that as
soon as the natural and ropel>resentment
aroused by these abuses becomes indis-
crimfnate and unthfnking 1t also becomes
not merely unwise and unfair but caicu-
lated to defeat the very ends which those
feeling It have in view.
There has been plenty Of dishonest wor,,
by corporations In the past. There will
notrbe the slightest let-up in the effort
to hunt down and punish every dishonest
man. But the bulk Of our business is
honestly done. In the natural indixna-
ton the people feel over the dishonesty.
1t is all essential that they should not
Continued on Third Perez