River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1907-12-05
Federal Control of
Railroads Is Favored.

have comes from carrying to an eX-
treme the national virtue of self-re-
lance of independence in initiative
and action. 1t is wise to conserve this
virtue and to provide for its fullest eX-
ercise, compatible with seeing that lib
erty does not become a liberty to
wrong others. Unfortunately, this is
the kind of liberty that the lack of all
effective regulation inevitably breeds.
The founders of the constitution pro-
vided that the national government
should have complete and sole control
of interstate commerce. There was
tnen practically no interstate business
save such as was conducted by water.
and this the national government at
once proceeded to regulate in thorough
going and effective fashion. Condi-
tions have now so wholly changed that
the interstate commerce by water is in
significant compared with the amount
that goes by land, and almost all big
business concerns are now engaged in
interstate commerce. AS result. it
can be but partially and imperfectly
controlled or regulated by the action of
any one of the several states; such ac-
ton inevitably tending to be either too
drastic or else too lax, and in either
case ineffective for purposes of justice.
Only the national government can in
thoroughgoing fashion exercise the
needed control This does not mean
that there should be any extension of
federal authority. for such authority
already exists under the constitution in
ampleSt and most far-reaching form;
but it does mean that there should be
an extension of federal activity This
is not advocating Capitalization. 1t is
merely looking facts in the face and
realizing that Capitalization in business
has already come and can not be avoid
ed or undone. and that the public at
tain evil effects of this business cen
tralization by providing better methods
for the exercise of control through the
authority already centralized in the
national government by the constitu.
tion itself. There must be no halt in
the healthy constructive course of ac-
ton which this nation has elected to
pursue. and has steadily pursued. dur
ing the last six years, as shown both in
the legislation of the congress and the
administration of the law by the de-
partment of justice. The most vital
need is in connection with the railroads.
AS to these, in my Judgment there
should now be either national incor-
poration act or a law licensing railway
companies to engage in interstate com
merce upon certain conditions. The law
should be so framed as to give to the
Interstate commerce commission power
TO pass upon the future issue of securi-
ties. while ample means should be pro
vided to enable the commission. when
ever in its judgment it is necessary. to
make a physical valuation of any rail-
road. AS / stated in my message to the
congress year ago. railroads should
be given power to enter into agree
ments. subject to these agreements he
ing made public in minute detail and 10
the consent of the interstate commerce,
commission being first obtained. Cntil
the national government assumes
proper control of interstate commerce.
in the exercise of the authority it al
ready possesses, it will be impossible,
either 10 give TO or to get from the
railroads full justice. The railroads;
and all other great corporations will
do wei to recognize that this coYt.u,
must come; the only question is as to
what governmental body can most
wisely exercise it. The courts will de-
termine the limits within which the
federal authority can exercise it. and
there will still remain ample work
within each state for the railway COM
mission of that state; and the natiorc i
Interstate commerce commission win