The Washington times., 1907-12-03
PRESIDENTS ANNUAL MESSAGE TO CONGRESS
ATTACKS MANY OF OUR NATIONAL ABUSES

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cation and upon the clever gamblers
who beEeiit by oyercapitalization. But
! II alone would mean an increase in
the value, an increase in the safety or
the stocks sad bonds OF law-abidiag,
honestly managed railroads. and would
render It far easier to market their Sc
curiues- 1 believe in proper publicity.
There has been complaint Of some o:
the Investigations recently carried on.
but those Who complain should put the
blame where II belongs-upon the mis-
aeeds which are done In darkness and
rot upon the Investigations which
brought them 20 light.
Merely Turned on Light.
ct le Administration IS responsible for
turning on the light. but il is net
responsible for what the light showed.
ask FOR full power to be given the
Federal Government, because no single
State can by legislation ehectuaIly cope
with these powerful corporations en-
gagged In interstate commerce. and.
while doing them full justice. exact from
them in return full justice TO others.
The conditions OF railroad activity, tie
conditions Of our immense interstate
commerce, are such as 20 make the
Central Government alone competent
[
The grave abuses in individual cases
| Of railroad management IN the past rep
resent wrongs not merely to the general
public. bit. above all, wrongs to fair
dealing and honest corporations and
men OF wealth, because they excite a
popular anger and distrust which from
the very nature OF the case tends 20
include in the sweep OF its resentment
good and bad alike. From the standpoint
OF tie public I can not too earnestly
say that az soon as the natural and
proper resentment aroused by these
abuses becomes indiscriminate and un-
thinking. II also becomes not merely un-
wise and unfair. but calculated 20 de-
feat the very ends which those feeling
ii have in view.
There has been plenty of dishonest
work by corporations in the past. There
will not be ;he slightest let-up in the
effort to hunt down and punish every
dishonest man. But the bulk of our
business is honestly done. In the nat
ural indignation the people feel over
the dishonesty, it is all essential that
they should not lose their heads and get
drawn into an indiscriminate raid upon
all corporations, all people of wealth,
whether they do well or i'll. Out of
any such wild movement good will not
come, cannot come, and never has
come.
'On the contrary. the surest way TO
Invite reaction Is TO follow the lead Of
either demagogue or visionary in a
sweeping assault upon property values
and upon public confidence. which would
/ Z X mcalculable damage in the busi-
IS world and would produce such dis
trust Of the agitatprs that IN the rev-uI-
sion the diStrust would extend TO hon
est men who, In sincere and sane fash
Ion. are trying 10 remedy the evils"
Forbid Only Bsd Trusts.
The antitrust law should not be re-
pealed, but Il should be made both
more efficient and more IN harmony
with actual conditions. II should be so
amenoed as TO forbid only the kind OF
combination which does harm to the
general public. such amendment TO be
! accompanied by, o. TO be an incident
o. grant OF supervisory power to the
Government over these big concerns en-
gagged IN interstate business This should
De accompanied by provision for the
compulsory publication OF accounts and
| me suojecuon Of books and papers 70
! tne inspection Of the Governments ofa-
clalS- A beginning has already been
made for such supervision by TIE esrsb-
hshment O. the Bureau OF Corporations.
Executive Needs More Power.
Tie antitrust law should not prohibit
CON biHations that do no injustice 70
the public, still less those the existence
OF wlich is on the whole Of benefit 10
tne public. But even II this feature II
Che law wee abolished. there would
remain as N equally Objectionable
feature the difficulty and delay now n
c:dent TO its enforcement. The Govern
ment must now submit TO irllsome and
repeated delay before obtaining a final
decision Of the courts upon proceed
ings instituted. and ever a favorable
decree may mean an empty victory.
Moreover. &c attempt 10 control these
| corporations Oy lawsuits means to i'm
pose upon both the Department OF Jus-
ice and the courts an impossible bur
den; II Is not feasible 10 carry on more
1 than a limited number OF such suits
Such law to be really effective must
Of course be administered by an execu-I
tive body, and not merely by means OF
lawsuits. The design should be to pre-
I vent the abuses incident 10 the crea-
ton OF unhealthy and improper .combi-
nations, instead Of waiting until they
are in existence and then attempting
to destroy them by civil or Criminal
! proceedings.
/ A combination should not be tolerated
| If il abuse the power acquired by com
Dtndtion 10 the public detriment No
/ corporation or association OF any kind
I should be permitted TO engage in for
/ eign or interstate commerce that IS
\ formed for the purpose Of, or whose
\ operations create. a monopoly or gen
eral control of the production, sale. or
! distribution Of any one or more of the
| prime necessities Of life or articles OF
( general use and necessity. Such com
] bnations are against public policy:
! they violate the common law: the doors
| Of the courts arc closed to those who
| arc parties TO them. and 1 believe the
/ Congress can close the channels of
I interstate commerce against them
] The law SHOULD make It's prohibitions
/ and perIuissions es clear and definite
! as possible, leaving the least possible |
| room for arbitrary action. or allegation