The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1907-12-06
STANDS BY HIS GUNS.

sage to congress. He discusses them
all with his characteristic vigor. He
does not back-up in his determination
to uproot those evils which have prov
ed and are proving menace to our
sicial, industrial and business life. He
deals in body blows, advocating the
enactment of laws which should prove
to be effective barriers to the aggres-
siveness of corporations and combines
whose existence means no good to the
whole people. This is one of his
strong references to those combinations
that are detrimental to the public:
"a combination should not be toler
ated if it abuse the power acquired
by combination to the public detri-
ment. No corporation or association
of any kind should be permitted to en-
gage in foreign or interstate commerce
that is formed for the purpose of or
whose operations create monopoly or
general 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
combinations are against public policy.
They violate the ~Nmmon law. The
ioors of the courts are closed to those
who are parties to them, and l believe
the congress can close the channels of
interstate commerce against them for
its protection. The law should make
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clear and definite as possible, leaving
the least possible room for arbitrary
action or allegation of such action on
the part of the executive or of diver.
gent interpretations by the courts"
President Roosevelt believes in
national license for railroads doing an
interstate commerce business. Also
that the commission should be given
authority to pass upon the future is
sue of securities, and ample means
should be provided to enable the COM
mission to make physical valuation
of any railroad. There should be ad-
ditional trust legislation, in the opin-
ion of the president. The present an
thrust law should not be repealed, but
it could be amended 10 meet existing
conditions. He believes in law that
will give the federal government power
to supervise big concerns engaged in
interstate commerce business. Federal
supervision should not be regarded as
a boogery, nor should federal activity
cause any apprehension. Federal con-
hac nj 10 ont
and has not been found harmful so
far as it has extended.
President Roosevelt recognizes the
need of currency legislation. We need
greater elasticity in our currency,
provided of course that we recognize
the even greater need of safe and Sec
ure currency. Provision should be made
for an emergency currency. The en-
Urgency issue should of course be made
with an effective guarantee and upon
conditions carefully prescribed by the
government. Such emergency issue
must be based on adequate securities
approved by the government and must
be issued under a heavy tax. This
would permit currency being issued
when the demand for it was urgent,
while securing its retirement as the
demand fell off. 1t is worth investi-
eating to determine whether officers
and directors of national banks should
ever be allowed to loan to themselves.
Trust companies should be subject to
the same supervision as banks. This
is the part of wisdom, and the presi-
dents suggestions should be incorpor-
ated into law.
His reference to the tariff naturally
will prove disappointing to those who
have looked in the direction of the
White House for ray of hope for
revision. He does, however, advise
that the tariff he revised at the ses-
sion of congress following the election.
He sees the need of some changes
but fears that violent action might
tend to demolish the entire industrial
structure. The subject of injunctions
is handled by the presidents in a
manner that should be pleasing to
those adherent of organized labor who
have made this topic their life battle.
President Roosevelt is quick to discern
the abuse of granting Injunction in
some instances. The subject of presi-
Dental campaign expenses receives due
consideration. He advises an appro
priation by congress to cover the legi-
innate expenses of political parties
engaged in national contests. Postal
savings banks are commended, an in
heritance tax advised, an increase in
our naval power suggested and the re-
peal of the tariff on forest products.
especially the duty on wood pulp.
One strong paragraph on law en-
forcement is interesting: "a few years
ago there was loud complaint that
the law could not be invoked against
wealthy offenders. There is no such
complaint now. The course of the de-
partment of justice Turing the last few
years has been such as to make it evil
dent that no man stands above the
law, that no corporation is so wealthy
that it cannot be held to account
Everything that can be done under the
existing law and with the existing
state of public opinion, which so pro-
foundly influences both the courts and