The Somerset reporter. [volume] (Skowhegan, Me.) 1868-1909, 1907-12-05
MESSAGE 0F
THE PRESIDENT

The president in his message to con
gress says:
No nation has greater resources than
ours, and | think it can he truthfully
said that the citizens of no nation pos
sess greater energy and industrial abii-
lty. In no nation are the fundamental
business conditions sounder than in
ours at this very moment, and it is
foolish when such is the case for peo-
pie to hoard money instead of keeping
1t in sound banks. for it is such hoard
ing that is the immediate occasion of
money stringency. Moreover, as
rule, the business of our people is con
Quoted with honesty and probity, and
this applies alike to farms and fac
tories. to railroads and banks, to all our
legitimate commercial enterprises.
In any large body of men. however.
there are certain to be some who are
dishonest, and il the conditions are
such that these men prosper or commit
their misdeeds with impunity their
example is very evil thing for the
community. Where these men are
business men of great sagac,ty and Of
temperament both INSCRIPTIONS and
reckless, and where the conditions are
such that they act without supervision
or control and al first without effective
check from public opinion. they delude
many innocent people into making in
vestments or embarking N kinds Of
business that are really unsound.
When the misdeeds Of these success
fully dishonest men are discovered. suf-
fering comes not only upon them. but
upon the innocent whom they have
misled.
There may be honest differences of
opinion as to many governmental poll
cies. but surely there can be no such
differences as to the need of unflinch-
ing perseverance in the war against
successful dishonesty
Interstate Commerce
The founders of the constitution pro-
yided that the national government
should have complete and sole control Of
interstate commerce. The interstate
commerce by water is insignificant
compared with the amount that goes
by land and almost all big business
concerns are now engaged in interstate
commerce. As a result ii can be but
partially and imperfectly controlled or
regulated by the action of any one OF
the several states. Only the national
government can In thoroughgoing
fashion exercise the needed control.
There must be no halt in the healthy
constructive course of action which this
nation has elected to pursue and has
years, as shown both in the legislation
Of the congress and the administration
of the law by the department of jus
tce.
The most vital need Is in connection
with the railroads. AS to these. in my
judgment. there should now be either
a national incorporation act or law
licensing railway companies to engage
in interstate commerce upon certain
conditions. Until the national govern
ment assumes proper control of inter
state commerce in the exercise OF the
authority il already possesses it will be
Impossible either to give to or to get
from the railroads full justice.
n. An -Trus Law
from the ia ilroads 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,
Moreover. IN my judgment, there
should be additional legislation looking
to the proper control of the great bust
ness concerns engaged in interstate
business. this control to be exercised
for their own benefit and prosperity no
less than for the protection of inves
tors and of the general public Modern
Industrial conditions are such that com
b.naton Is not only necessary, but in
eyitabe. Corporation and labor union
alike have come TO stay. Each II prop
erly managed is source Of good and
not evil. Whenever in either there Is
evil II should be promptly held to ac-
count. but il should receive hearty en-
coura cement so long as ii is properly
managed.
The antitrust law should not be re-
pealed. but il should be made both