Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-12-04
vided that the national government
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should have complete and sole control
of interstate commerce, There was
then practically no interstate bust
ness save such as was conducted by
water. and this the national govern
ment at once proceeded to regusnte In
thoroughgoing and effective fashion.
Conditions have now so wholly chang
ed that the interstate commerce by
water is Insignificant compared with
the amount that goes by land, and al
most all big business concerns are now
engaged in interstate commerce. AS a
result, 1t can be but partially and i'm
perfectly controlled or regulated by
the action of any one of the several
states, such action inevitably tending
to be either too drastic or else too lax
and in either case Ineffective for pur-
poses of justice. Only the national
government can in thoroughgoing fash
ion exercise the needed control. This
does not mean that there should be
any extension of federal authority, for
such authority already exists under
the constitution in amplest and most
far reaching form, but it does mean
that there should be an extension of
federal activity. This is not advocat-
ing Capitalization. It is merely locking
facts in the face and realizing that
Capitalization in business has already
come and cannot be avoided or undone
and that the public at large can only
protect itself from certain evil effects
of this business Capitalization by pro
viding better methods for the exercise
of control through the authority al
ready centralized in the national gov
eminent by the constitution itself.
There must be no halt in the healthy
constructive course of action which
this nation has elected to pursue and
has steadily pursued during the last
six years, as shown both In the leats-
lation of the congress and the admin
fstration of the law by the depart
ment of justice. The most vital need
is in connection with the railroads. AS
to these, in my judgment, there should
now be either national incorpo
act or a law licensing railway compa-
mics to engage in interstate commerce
upon certain conditions, The law;
should be so framed as to give to the
interstate commerce commission pow
er to pass upon the future issue of Sc
curities, while ample means should be-
provided to enable the commission,
whenever in it's Judgment it is neces-
sary, to make physical valuation of
any railroad. AS stated in my mes
sage to the congress a year ago, rail
roads should be given power to enter.
into agreements subject to these agree
ments being made public in minute de-
tail and to the consent of the inter
state commerce commission being first
obtained. Until the national govern
ment assumes proper control Of inter-
state commerce in the exercise Of the
authority it already possesses it win
be impossible either to give to or to
get from the railroads full justice. The
railroads and all other great corpora
tons will do well to recognize that this
control must come. The only question
is as to what governmental body can
most wisely exercise it, The courts
will determine the limits within which
the federal authority can exercise it,
and there will still remain ample work
within each state for the railway COM
mission of that state. and the national
interstate commerce, commission will
work In harmony with the several
state comRissions, each within its own
province, to achieve the desired end.