Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-12-04
PresidentR affrmsh Hi WeNKno,unAt htude TouvardL aybreaker Rich
and Poor; Communication Silent Concerning Stakeholder Territories

~ . - hHhNh NAFN
numerous Joint traffic associations dc
technically violate the law. they say.
The decision of the United States su-
preme court in the Trans Missouri
case and the Joint Traffic association
Ease has produced no practical effect
upon the railway operations Of the
country. Such associations, in fact
exist now as they did before these de-
cisions, and with the same general
effect. In Justice to all parties. We
ought probably to add that II is diff
cult to see how our interstate railways
could be operated with due regard to
the interest of the shipper and the
railway without concerted action of
the kind afforded through these as
lsociatiOns.
"This means that the law as con-
strued by the supreme court is such
that the business of the country car
not be conducted without breaking
it."
As have elsewhere said:
"All this is substantial, what /
have said over and over again.
Surely it ought not to lac necessary
to say that il in no shape or way rep
resents any hostility to corporations
as such. on the contrary. il means
a frank recognition of the fact that
combinations of capital. like combi-
nations Of labor, are a natural result
Of modern conditions and of our ma
tional development. As far as in my
ability lies my endeavor Is and VIII he
to prevent abuse of power by either
and to favor both so long as they do
well. The aim of the national gov
eminent is quite as much TO favor and
protect honest corporations, honest
business men of wealth, and to bring
to justice those individuals and cor
porations representing dishonest
methods. Most certainly there viii be
no relaxation by the government au-
thorities In the effort to get at any
great railroad wrecker-any man who
by clever %swindling devices robs in
vestors. Expresses wage-WOrkers, and
does Injustice to the general public.
But any such move as this in the in
terest of honest railway operators,
of honest corporations. of those who,
when they invest their small savings
in stocks and bonds, wish TO be as
sured that these will represent money
honestly expended for legitimate BUSH
ness To confer upon the
national government the power for
which ask would be a check
upon overcapitalization and upon the
clever gamblers who profit by the
decentralization. But il alone would
mean an increase In the value, an in
crease in the safety of the stocks and
bonds Of law-abiding, honestly nan
aged railroads. and would render il
far easier TO market their securities.
/ believe ip roner publicity.
There has been complaint of some Of
the Investigations recently carried on.
but those who complain should put
the blame where 1t belongs-upon the
misdeeds which are done IA daf kness
and not upon the Investigations which
brought them to light. The admin
~istration is responsible for turning on
the light, but ii is not responsible for
what the light showed. ! ask for full
power to be given the federal govern
ment. because no single state can by
Legislation effectually cope with these
powerful corporations engaged in in
terstate commerce. and while doing
them full justice, exact from them In
return full justice 60 others. The
conditions of railroad activity. the
conditions of our immense interstate
commerce. are such as to make the
government alone competent
exercise full supervision and con-
"The grave abuses i'm individual
cases Of railroad management In the
past represent wrong not merely 10
the general public. but above all,
wrongs to fair-dealing and honest
corporations and men of wealth, be-
cause they excite a popular anger and
A0N " ~ WY 9
Of the case tends to include in the
sweep of its resentment good n bad
alike. From the standpoint of the
public | can not too earnestly say
as soon as the natural and proper
resentment rouse by these abuses
becomes indiscriminatc and %unthink-
IL also becomes not merely un-
wise and unfair, but calculated 10 de-
feat the very ends which those feel
ing IL have in view. There has been
of dishonest work by corpora
In h past. There will not he
he slightest let-up in the effort to
hunt down n punish every dishon-
ast man. But the bulk of our bust
Is honestly done. In the natural
the people feel over the
dishonesty. II is all essential That
hey should not lose their heads and
get drawn into an indiscriminate raid
upon all corporations, all people Of
whether they do well or III
of any such wild movement good
will not come. cannot come.
never has come. on the
contrary. the surest way to
invite reaction Is TO follow the lead
n either demagogue or visionary in
/ sweeping assault upon property
and upon public confidence.
which would work ~incalculable dam
in the business world and would
fouuct Sntn ulslTuSt OF lnt aqua
.ors that In the revulsiOn the dis
would extend to honest men
Who, In sincere and sane fashion, are
to remedy the evils"
The antitrust law should not be
'epealed: but II should be made both
more efficient and more In harmony
With actual conditions. II should be
10 amended az 20 forbid only the
lind OF combination which does harm
o the general public, such amend
to be accompanied by. or TO be
In incident of, "A grant Of supervisory
power to the government Yer these
,ig concerns engaged In Interstate
business. This should be- accom-
by provision for the cOmpul-i
.ory publication Of accounts and the
objection OF books and papers to the
Inspection OF the government officials.
beginning has already been made
or such supervision by the estab-
ishment Of the bureau OF corpora
ions.
The antitrust law should not pro-
iibit combinations that do no injustice
o the public. still less those the eXis-
ence OF which is IN a whole OF bene-
II 90 the public. But eve 81 this
here would remain as an equally OBJ
ectionable feature the difficulty and
now incident 70 is enforcement
The must now submit 10
rksome and repeated delay before
,btaining "a nnal decision Of the courts
ipon proceedings Instituted. and even
favorable decree may mean an
.mpty victory. Moreover. to attempt
q. a.wHrwH Fh.um awmwHafNnaa Hns L. an-