The Barre daily times. (Barre, Vt.) 1897-1959, 1907-12-03

be hut partially and imperfcctiy con.
trolled or regulated by the action Of
any one Of the several states. such nc.
tion inevitably tending TO be- either
too drastic or else too lax end IN either
case ineffective Cor purposes Of justice.
Only the national government can In
thoronghgolng fashion exercise the
needed control. This docs not mean
that there should be any extension Of
federal authority. for such authority
already exists under the constitution
IN amplcst and most FAR reaching form.
but Il does mean that there should be
an extension OF federal activity. This
Is not advocating Capitalization. II Il
merely looking facts IN the face and
realizing that Capitalization IN business
has already come ana cannot be avoid
cd or undone and that the public n
large can only protect itself from Ger.
tain evil effects OF this business cen.
traiization BY providing better methods
for the exercise OF control through the
authority already centralized in the
national government by the constllu-
ton itself. There must be no halt IN
the healthy constructive course Of nc
ton which this nation has elected 70
pursue and has steadily pursued dur
Ing the last six years. as shown both
ia the legislation Of the congress and
the administration OF the law by the
department OF justice.
National License For Railroads.
The most vital need Is IN connection
with the railroads. As TO these. ia my
judgment. there should now be either
national incorporation act or a law
licensing railway companies to engage
in interstate commerce upon certain
conditions. The law should be so
framed as 70 give TO the interstate
commerce commission power 20 pass
upon the future issue OF securities.
while ample means should be provided
TO enable the commission whenever In
its Judgment II Is necessary to make
valuation OF any railroad. As
stated in my message to the congress
a year ago. railroads should be given
power 70 enter into agreements sub
Jet to these agreements being made
public In minute detail and TO the con
sent Of the interstate commerce com
being hrst obtained. Until
the national government assumes prop
or control Of interstate commerce Ia
the exercise OF the authority It already
1t viii be impossible either
10 give TO or to get from the railroads
full justice The railroads and all 9TH
er great corporations viii do well to
recognize that this control must come.
The only question Is as to what gov
ernmental body can most wisely exer-
else It. The courts viii determine the
limits within which the federal author
fly can exercise II. and there will still
remain ample work within each. state
for the railway commission OF that
state, and the national Interstate com
merce commission will work in har
mony with the several state commits
sions, each within its own province, to
achieve the desired end.
The Antitrust Law.
Moreover. in my judgment. there
should be additional legislation looking
to the proper control Of the great BUSH
ness concerns engaged in interstate
business. this control to be exercised
for their own benefit md prosperity
no less than for the protection Of In
vestors md Of the general public. As
have repeatedly said In messages 10
and elsewhere. experience has
definitely shown not merely tie nnwis.