The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1907-12-06
MESSAGE SENT
TO CONGRESS
Presidents Recornmen-
dations On National
Legislation.
AS TO CURRENCY QUESTION
Many Defects of Present System
Are Pointed Out by Chief
Executive.
NOT TIME FOR TARIFF
Postponement of Discussion of Re-
vision of Schedules Until After
Presidential Election Urged - Me-
cessity for improving Waterways of
the Country.

Washington, Dec. 3.-President Roose-
welt in his annual message deals vigor-
ously with matters of national impor-
lance. Referring to the recent disturb
ance in financial circles he points out
that the boarding of money by the /peo-
pie. instead of keeping it in sound banks,
was the first cause of financial strngency
and grave error He pays tribute to
the general honesty of the men engaged
in the banking business.
After quotations from his last annual
message which dealt with the necessity
of governmental regulations, the presi
dent asserts that his views have in no
way changed and declares it is the duty
of the national government to embodyl
in action the principles he then expressed.
Disclaiming any idea of advocating CEN
tralization the president insists upon the
necessity for federal control of the rail-
roadC of the country through the inter-
state commerce commission, and also
urges legislation looking to the proper
control of the great business concerns en-
gagged in interstate business, this control
to be exercised for their own benefit and
prosperity no less than for the protection
of investors and of the general public.
Wants Federal Control.
ditons are such that combination is not
only necessary but inevitable, the presi-
dent refers to his message of a year ago
concerning necessary changes in the
antitrust laws. He goes on: Il ask for
full power to be given the federal
government. because no single state
can by legislation effectually cope
with these powerful corporations en-
gagged in interstate commerce, and while
f..rI
in return full justice to others. The con-
ditions of railroad activity, the condi-
tons of our immense interstate COM
merce, are such as to make the central
government alone competent to exercise
full supervision and control.
1.-THE antitrust law should be made both
more efficient and more in harmony with
actual conditions. 1t should be so amend
ed as to forbid only the kind of combina-
ton which does harm to the general pub
lie, such amendment to be accompanied
by, or to be an incident of, grant of SUI
pervisory power to the government over
these big corporations engaged in inter-
state business. This should be accom-
panied by provision for the compulsory
publication of accounts and the subjec-
ton of books and papers to the inspec-
ton of the government officials. A be-
ginning has already been made for such
supervision by the establishment of the
bureau of corporations.
sho,,,a he tha nrnhihition of ,nboaltbv
,,,o.it,or s,,,b os b., ,.a,,dari,,r ,e,.,,ic.
80 ~, ant,,ai ,os, Co., III, r,,rnosa % cr,,eb-
a.. 80 oo,,anott,ta,, 40 rra,,artior 90 H.
nation of capital, and the prohibition of
corporations making exclusive trade
with itself a condition of having any
trade with itself Reasonable agreements
t,,s " ,'lt,toa ,,,,,,,i,,l1 tha,. a.,
60 ,,,,,t,to1 80 o, S,'ro,.od h,, so,,,o
n,,'u.,or;nta ,,,,.or,,n,o,,t IA.
Like N"''ohai h"nk supervision
me congress mas the power TO charter
coIporatiohs 10 e"s"se III lii'eIT' , anu
foreign commerce ana senerai Jaw can
De enacteu urueI tiie prov Sioi,s Vi Wl.lc M,
eNis'ihg corporatiohs couIu take OUT leu-
er"l cilai tSis anu ne" ieueIai Eoi po."
LIS uoi'S ,,'' li,,,o e., ~,
w. ..asoto,,i,irr Nv go fa1oro, SoarI
vi p, ~ ~ .,,i.,." sa,.
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go l.Si VIC au "o9VO W
S,I t ~ ,ia,., n.,o,,I,.,,
ia" ie ,,.u.i '''1,.ei
llnsl't os &c SUE W w" ~, 81
ever nat'onai pa,ihS, ~ c"a.' ,'e Gnu
u US. az. 9'Uu'i "e ~ 81
clilc VI .''1 w
perlehce mas SLOW nav psI" VI l.oS'
seiNIee III ,iio'.oLU',9'
tiohs W 81 usi ou' eoiiIp''it'o', , Iea'
owners Vi ool POI a''o' s.Inuiu We Sol'.
nsheu 10 10 puSi"ess ~ ''eii o"l Iif'ine'
me rlslt 10 holu s'ock III oti'eI eor i1
uoIs sIoulu hereafter oe ueliieu 90 me- a..
STATE corpordt'oHs' uiiless o.i appi az Wy
the pIuper so' eih,''eh' uinci"is, anu d
prerequisite 70 SUI" appio Nhi siou,u Nv
the nstins WIN tle sover"illeil' vi az
owners anu stochhoiueIS' uoth ny tle
corporation owning such Stock ana py
the corporation III WHICH suoH s'och 10
owned
The Currency Question.
On the quec.fon of the Currency the
president calls Intention to his last an
nual message wherein he pointed out
that our presegt System is defective and
showing the need of a change. In that
message he said:
National banks should be permitted to