Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1907-12-05
CAUSES OF THE PRESENT FINAN-
cIAL CONDITIONS is MADE
THE CHIEF TOPIC.
SUGGESTS REMEDIES FOR ILLS
CONTROL OF CORPORATIONS AND
RAILROADS TO PREVENT
ovERcAPITALIZATloN.
Believes This Would Solve the Prob
lem Together with Provision for
More Elastic Currency-Recom-
mends Postal Banks and Asks for
Legislation Along Many Lines.

Washington, Dec. 3. - President
Roosevelt's annua message to congress
is a voluminous document of nearly
so. 600 words, by far the longest mes
sage he has ever submitted to congress.
The opening subject of the message Is
the financial condition of the country,
and for which the president lays much
of the blame upon INSCRIPTIONS stock
spectators, and says:
I'm any large body of men, however,
there are certain to be some who are
dishonest, and if the conditions are
such that these men prosper or com
nit their misdeeds with impunity, their
example is a very evil thing for the
community. Where these men are busi-
ness men of great sagacity and OF tenn
permanent both INSCRIPTIONS and reck-
less, and where the conditions 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 misdeeds of these successful
ly dishonest men are discovered, sur
fering comes not only upon them, bu'
upon the innocent men whom they
have misled. 1t is a painful awakening
whenever it occurs; and. naturally,
when it does occur those who suftef
are apt to forget that the longer 1t was
deferred the more painful it would be
In the effort TO punish the guilty II Is
both wise and proper to endeaVor sc
far as possible to minimize the dis
tress of those who have been misled BY
the guilty. Yet it is not possible tt
refrain because of such distress from
striving to put an end to the misdeed!
that are the ultimate causes of the SUI
fering, and, as a means to TINS emo
where possible to punish those re
sponsible for them. There may be hon
est differences of opinion as to man!
governmental policies; but surely ther'
can be no such differences as TO TN
need of unhinching perseverance in tn
war against successful dishonesty
He quotes at length from his mes
sag of last year in which he adNo
c-ted federal control of corporation
doing interstate business, and belleVe
that in such control would be found tn
remedy for overcapitalization an
stock speculation which he believe
have brought about the present finan
cial conditions. He says;
our steady aim should be by legis
Iation, cautiously and carefully under
aiken, but re~solutely persevered in, t
assert the sovereignty of the natlona
government by affirmative action.
This is only in form an innovation
In substance it is merely a restoration
for from the earliest time such regula
ton of industrial activities has bee
recognized in the action of the law
making bodies; and all that / propos
is to meet the changed conditions /
such manner as will prevent the CON
monwealth Indicating the power 1t ha
always possessed, not only in this cour
try, but also in England before an
since this country became a separat
nation,