The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1907-12-07
PRESIDENTS MESSAGE,
q ,I,ebt Features of the Oficiai Cotnrnns
uication Made to Congress by Presi-
dent Roosevelt L asst Monday.
rnro-r ,riears Tirnes.Denecrst1

aitcation Made to congress Dy AEeeA
dent Roosevelt asst Monday.
New Orleans Times-Democratl
The message opens with reassur
ing expression as to the sound fun
damental business condition OF the !
country and q warning is issued
against the boarding OF money. The
president states that the business OF
our people is, as rule, conducted
with honey and probity, although
there are some dishonest persons and !
some dishonest practices. He relter-
ates his opinions regarding the neces-
sity for the punishment OF men in high
places who may have been guilty OF
dishonesty. He quotes from his mes
age to congress of Dec. 8, 1908, re-
garding the punishment OF the guilty,
and the regulation OF big corpora
tions.
Interstate commerce is dealt with,
the president emphasizing remarks on
the same subject made on former &C.
casions. The founders Of the con-
stitution provided, he said, that the ma
tional government. should have the
fullest control of interstate commerce.
He says that interstate railroad COM
merce can be but partially regulated
by the various states and thus it be-
comes the duty of the federal govern
ment to assume charge. Only the ma
tional government, he says, can in
thorough fashion exercise the needed
control. An extension Of federal &C
tivity is advocated, as the president
says the federal government has the
necessary power. He diAeiaims, how
ever, that this is an advocacy for cen
tralization. He suggests that there
should either be national incorpo-
ration act or q law licensing railroads
to eng age in interstate commerce upon
certain conditions. The message con-
tends that until the federal government
assumes full charge of the railway
situation, full justice car be neither
exacted from nor dealt to the railways.
The courts will determine the limits
within which the federal authority can
exercise it, and there will still remain
ample work within each state for the
railway commission of the state, says
the message, with the national inter-
state commerce commission working in
harmony with the state commissions.
CORPORATION CONTROL.
sDealing with the control of corpo-
rations, the message says that modern
industrial conditions are such that
combination is not only necessary.
but inevitable. The president sdve-
Gates additional legislation dealing
with the question of control. He
quotes a former message to congress
along these lines. The antitrust law,
be says, should not prohibit combi.
nations that do no injustice to the
public, still less those the existence OF
which is on the whole beneficial to the
| public. He also complains of the de-
lays incident to the operation of the
present law, which works so that even
when the government may gain q
| victory it is likely to be barren one.
It is recommended that q general Law
| BE- enacted under the provisions OF
which existing corporations could
take out federal charters and new
federal corporations could be created.
An essential provision of such meas
ure should be method OF predeter-
mining by some federal board or com.
mission whether the applicant for a
federal charter was an association or
com bin alton within the restrictions OF
the federal law. The supervision thus
suggested would be analogous to that
exercised over national banks. The
president thinks that such legislation
would benefit the big combines as it
has benefited national banks. The
message says that those who fear,
from any reason, the extension OF
federal activity will do we'll to study
the history, not only Of the national
banking act, but of the pure food law,
and notably the meat inspection law
recently enacted. The cooperation
| between the state and federal authori-
ties in connection with the enforcement
Of the pure food law is called atten.
ton to.
CURRENCY QUESTION.
Taking up the currency question the
president quotes from his message to
congress year ago, in which he
pointed out that the present system OF
currency is seriously defective. In his
message at that time he recommended
| for consideration the plan that ma.
tional banks be permitted to issue q
specified proportion of their capital il
notes of given kind, the issue to be
taxed at SO high rate as to drive the
notes back when not wanted in legiti.
mate trade. Coming down to present
conditions the message urgeaRthe need
OF greater elasticity OF the currency
provided that the even greater need OF
safe and secure currency is recog.
nized.
The most rigid examination by the
national authorities is advocated and
provision should also be made for an