Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1907-12-03
Says President Roosevelt in His An
nual Message to the Highest Law
Making Body of the Land.

. sites OF life or articles OF general
use and necessity. Such combina-
tions are against public policy: they
violate the common law: the doors
OF the courts arc closed to those who
are parties to them. and I believe the
congress can close the channels OF
interstate commerce against them
for Its protection The law should
make its prohibition and permissions
rs clear and definite ms possible. leav-
Ing the least possible room for arbi-
trary action. ar allegation of such
action. on the part OF the executive
rof divergent interpretations by
she courts. Among the points TO be
aimed ut should be the prohibition
of unhealthy competition, such as by
rendering service at an actual loss
'or the purpose OF crushing out COM
petition. the prevention OF imitation
Of capital. and the prohibition OF q
corporations making exclusive trad
with itself a condition of having any
rade with itself. Reasonable agree
menis between. or combinations of.
corporations should be permitted.
provided they are first submitted to
and approved by some appropriate
government body
To confer upon the national gov
ernment. in connection with the
amenfnent | advocate in the anti
trust law, power of supervision over
big business concerns engaged in
Interstate commerce. would benefit
j m as IL has benefited the nation
Al banks. In the recent business
riBis it is noteworthy that the in
situations which failed were instI-
tutiops which were not under the
supervision and control OF the ma
tioIral government. Those which
were under national control stood
the test.
Claiming that such control would
not only be beneficial to the public.
bnt TO the corporations themselves.
The president instanced the ma
tional banking and pure food acts
to Offset the clamor against centrali-
zation and federal control.
CURRENCY.
After quoting from his 1906 mes
sage the president said:
I again urge on the congress. the
need of immediate attention to this
matter We need greater elasticity
n our curr ncy; provided, of course.
hat We recognize the even greater
need of a safe and secure currency
There must always be the most rigid
examination by the national author
tiles. Provision should be made for
an emergeny currencq. The emer-
genoy issue should, of course. be
made with an effective guaranty. and
upon conditions carefully prescribed
by the government. Such emergen-
~ issue must be based on adequate
securities approved by the govern
ment, and must be issued under a
heavy tax. This would permit cur
reney being issued when the demand
fell on IL is worth investigating to
determine whether officers and direc-
tors OF national banks should ever be
allowed TO loan to themselves. Trust
companies should be subject to the
same supervision as banks; legisla-
ton to this effect should be enacted
for the District of Columbia and the
territories
YC, we must also remember that
sven che wisest legislation on the
subject can only accomplish GER
tain amount. No legislation can by
any possibility guarantee the bust
1ess community against the results
of speculative folly any more than II
can guarantee an individual against
be results OF his extravaganza.
When an individual mortgages his
house TO buy an automobile he in
vites disaster; and when wealthy
men. or men who pose as such. or
are unscrupulously or foolishiy eager
10 become such, indulge in reckless
especially If 1t Is ac-
companied by dishonesty--they jeop-