Semi-weekly herald., 1907-12-05

NO more Scathing condemnation couId
BE- visited upon a law than is con.
tanned in the words of the interstate
commerce commission when, in com.
menting upon the fact that the nu-
merous joint traffic associations do
technically violate the law. they say.
The decision of the United States
supreme court in the trans-Missouri
case and the Joint Traffic association
case has produced no practical effect
upon the railway operations of the
country. Such associations. in fact
exist now as they did before these
decisions, and with the same general
effect. In justice to all parties we
ought probably to add that it is diff
cult 10 see how our interstate rail
ways could be operated with due re-
gard TO the interest of the simmer
ard the railway without concerted ac-
ton of the kind afforded through
these associations
This means that the law as con
strued by the supreme court is such
that the business of the country can
rot be conducted without breaking it."
AS have elsewhere said:
"All this is substantially what have
said over and over again. Surely
II ought not to be necessary to say
that it in no shape or way represents
any hostility to corporations as such.
On the contrary, it means a frank
recognition of the fact that combina-
tions of capital, like combinations of
labor are natural result of modern
conditions and Of our national devel-
opment. As far as in my ability lies
my endeavor is and will he to prevent
abuse of power by either and to fa
vor both so long as they do well The
aim of the national government is
quite as much to favor and protect
honest corporations, honest business
| men OF wealth, as to bring to Justice
| those individuals and corporations rep
| resenting dishonest methods. MOST
certainly there will be M relaxation
| by the government authorities in the
| effort to get at any great railroad
wrecker-any man who by clever swim
| ding devices robs investors. opprosses
! waSe-workers and does Injustice to
! the general public. But any such
move as this is in the interest of hon
est railway operators. OF honest cor
| porations, and of those who. when
they invest their small savings in
stocks and bonds, wish to be assured
that these will represent money hon
| estly expended for legitimate business
purposes. To confer upon the nationai
government the power for which | ask
would be a check upon overcapitaliza-
tion aid upon the clever gamblers who
| benefit by Observation-Disclosures. But ii
alone would mean an increase in the
| value, an increas. in the safety of the
stocks and bonds of law.abiding, hon
estlc managed railroads. and would
render it far easier - market their
securities. believe in proper pub
licity. There has been complaint of
carried on, but those who complain
| should put the blame where it be-
lonss-upon the misdeeds which are
done in darkness and not upon the
Investigations which, brought them to-
light. The administration is resopnsi-
BILE for turning on the light, but it is
not responsible for what the light
showed. | ask for full power to be-
given the federal government, because
no single state can by legislation sue
cessfully cope with these power:ul cor
porations engaged in interstate COM
merce. and while doing them full JUS
tice, exact from them in return full
| justice TO others, The conditions OF
| i-ailroad activity. the conditions of our
| immense interstate commerce, are
such as to make the central govern
ment alone competent to exercise full
supervision and control
| The grave abuses in individual
cases of railroad management in the
past represent wrongs not merely to,
the general public. but, above all,
wrong to fair-dealing and honest cor.
porations and men OF wealth because
they excite popular enger and dis
trust. which from the very nature of
the case tends 10 include in the swees,
| of its resentment good and bad alike.
From the standpoint of the public ]
can not too earnestly say that as soon
as the natural and proper resentment
aroused by these abuses becomes in
discriminate and unthnking it also.
becomes not merely unwise and un-
| fair, but calculated to defeat the very
ends which those feeling it have in
view. There has been plenty of dis
honest work by corporations in the
past. There will not be the slightest
let-up in the effort TO hun. down and
punish every dishonest man. But the.
bulk of our business is honestly done.
IN the natural indignation the people,
feel over the dishonesty, II is all as
al -