The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1907-12-03

exercise OF control through the au.
thority already centralized In the Ma.
/ tlonai Government by the copst,lu.
tion Itself. There must be no halt in
i the healthy constructive course OF nc.
tion which this Nation has elected to
pursue, and has steadily Turs ed. dur.
ing the last six years, as shown both
In the legislation Of the Congress ana
the administration Of the law by the
! Department OF Justice. The most vi.
tai need Is In connection with the rail.
roads. AS TO these, 70 my Judgment
there should now be either national
incorporation act or a law licensing
railway companies to engage In inter.
state commerce upon certain condi-
tions. The law should be so framed
as to give to the Interstate Commerce
Commission power to pass upon the
future issue Of securities. while am.
pie means should be provided to en-.
able the Commission. whenever in its
Judgment It Is necessary, to make a
physical valuation Of any railroad. AS
| stated In my message to the Con.
gress year ago. railroads should be
given power to enter into agreements,
4 - u d 49, ~ . .
subject to these agreements being
made public In minute detail and t.
the consent Of the Interstate Com
merce. Commission being first obtain.
ed. Until the National Government
assumes proper control OF Interstate
commerce, In the exercise OF the au.
thority 1t already possesses, 1t will 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 onlylque
tlon Is as; to what governmental body
can most wisely exercise II. The
courts will determine the limits with.
N which The Federal authority eansex:
ercise It and there will still remain
ample work within each State for the
railway commission Of that State;
and the National Interstate Commerce
Commission will work in harmony
with the several State commissions,
each within its own province, to
achieve the desired end.
Sherman Antitrust Law.
Moreover, In my judgment there
should be additional legislation look.
Ing to the proper control OF the great
business concerns engaged in inter.
state business, this control to be ex.
erclsed for their own benefit and pros.
perity no less than for the protection
of investors and OF the general pub.
lie. As | have repeatedly said in mes.
sages to the Congress and elsewhere,
experience has definitely shown not
merely the aRwisdom but the futtifty
OF endeavoring to put a stop to all
business combinations. Modern indus.
trial conditions are such that comb.
nation Is not only necessary but In.
evitable. 1t is SO in the world of bus.
lness just rs 1t is so in the world of
labor. and 1t is as idle to desire to
put an end to combinations of labor.
W. po'"'ioh anu iapor union aliRe
nave come 10 stay. Each II properly
i'ian"sea Is source OF good and not
e'n. whenever IN either there Is
e'h' II shouid ne promptly held to
account put II shoaid receive hearty
eiieouuraseiheht SO long us 1t Is prop
effy managed. II is profoundly I'M
i'oia' " put or keep on the statute
pooAs u iaw' hohihaiiy IN the interest
Oh pnDnc morahty that really puts
premium upon puonc immortality,
py Undertaking TO forbid honest men
from doihs ~hat must be done under
lnoderh business conditions, so that
the law itself provides that Its own
h'racuon must be the condition pre-.