The Washington herald., 1907-01-03
Roo.syeIrs ECONOMIC Doctrine.

Tn some recent discussion OF the eco
namic tendencies Of the Roosevelt ad-
minisTation the President is represented
as leaning toward State socialism. II
would surely require very loose and
insufficient definition of State socialism
To justify this Interpretation of President
Roosevelt's views. which have been 50
clearly set forth in State papers and pub
lie utterances- For example. I'm his an
nual message We find discussion Of the
corporation problem wherein this Ian
guage is used.
"Our effort should he not so much ta ,,-s,aD.
consolidation as SUCH but so 10 supervise and con-
troll 30 as % see that 20 results iu no harm TO The
people. The reacuonary or utra-consgratiTe apollo
E-ts FOR the misuse of wealth a,sal the effort ia
secure such control as il step toward socialism
As d matter Of fact 1t is these reactIuuaries and
ultra conservatives who are themselves most rotten,
On increasing secisistic feeling Dus ri the mos,
efficient methods Of aysTting the consequences Of a
dangerous agitation. which Is 50 per cent wrong
Is to remedy the % Utr cent Of evil as 20 which
the agitation is veil founded The best way "a
avert tie very undesirable move for the govern.
mental ownership Of railways is 20 secure by the
government n behalf Of the people as a whole
such adequate control and regulation IL the great
interstate common carriers as viii do away with
the evils which give rise to the agitation agaius;
Them So the proper autidote 20 the dangerous
and wicked agitation against the men Of wealth
as such is % secure by proper legislation and ezecu
tive action the abolition Of the grave abuses which
actually do obtain ia connection with the busiues.
use Of wealth under our present system-or rather
u' systcm-of failure to exercise any adequate con
/ troll at an"
We do not imagine anyreal State socialist
would feel at all satisfied with this expo
sition by the President Of the guiding prin-
/ cipies Of American legislation for the con-
/ troll Of corporate activities. The essence OF
State socialism is government ownership OF
| all the means of production and the bureau
! cratic administration of every agency for
/ the supply Of material human wants. The
/ essence Of the doctrine, which now finds
such wide acceptance in this country
and OF which Mr. Roosevelt is a con
/ spicuOus exponent, is that corporations
! created by law and endowed with powers
/ the exercise Of which affects the we'll
| being Of masses Of the people unable a.
individuals TO protect their own interests
should be subject to restraint according "a
/ the principles Of justice which obtain
among men. In word. we are trying tc
attain one of the fundamental objects OF
+ all governments. 20 protect the veal
/ against the strong, and TO establish
justice in the relations between corpora.
/ tions and the public A square deal
/ our President tersely puts it. and that
sums up the whole matter. Any Anglo.
Saxon since the time of Magma Charta
might have said the same thing; TN,
notion of justice is firmly ingrained il
the character Of the English-speakinl
race
/ II Is not without significance that
our antitrust legislation is based on tn,
ancient principles Of the common law
( Restraint Of trade was defined by English
+ judges before the foundation of this re-
public; monopoly was condemned by up.
right jurists long ago; the just price was
an inspiration of economic justice in tbs
Middle Ages; forestaIIing and engrossina
the market. just as the ice trust has done
were wrongful when Blackstone wrote his
! classic Commentaries Actions could h
maintained in our courts against MANY ot
our trusts without any legislation AT all
as was done in West Virginia not lonc
ago. so we'll established are the principle,
of justice as between merchant and buyer
] between producer and consumer. between