The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-10-07
Republic or Despotism-Which

In addressing the people of St Louis
on Tuesday, President Roosevelt advo-
Gated the national control and regula-
ton of interstate railways. He advo-
Gated also the national control and reg
ulation of Industrial corporations or
stock companies which do an Interstate
business.
AS an illustration and precedent of
these policies. he pointed to the gov
ernment's control and regulation of
the national banks
Never before within our recollection,
has such a sweeping declaration come
from a president of the United States
in times of peace. Never has a graver
issue been presented by an American
president even In times of war.
Regulate and control all the inter-
state railroads! Regulate and control
all the industrial stock companies do
ing an interstate BUSINESS! Regulate
and control each. and both classes, af-
ter the manner in which the national
banks are regulated and controlled by
the federal government today! What
does this mean?
In Illinois alone, some $4,000 stock
companies are doing business today.
In the whole United States, the number
of such companies hardly falls below a
million. How many of these do an in
terstate business, and therefore, come
under the presidents plan of control
and regulation from Washington?
According to the presidents idea, the
number must be at least three fourths
of the total. For, as was set forth in
the Roosevelt Beveridge child labor
bill. and was expounded at length in
the Senate by the senator from Indiana,
all factories producing articles which
are exported beyond state lines are to
be regarded as subject to federal con-
troll and regulation under the inter-
state commerce clause of the constitu-
ton.
Think of it! Seven hundred and fifty
thousand stock companies, transacting
practically three fourths of the bust
ness Of the United States, to be licensed
regulated and controlled, even to
listing of their stock, by a department
at Washington
Seven hundred and fifty thousand
stock companies to be examined by fed
eral examiners, to be inspected by fed
eral inspectors, to be picked and chosen
for reprobation, dictation. or extermi-
nation by federal officials, and to be
supervised or administered after the
manner of national bank in case of
insolvency.
Think of 1t! There are only $500 ma
tiona1 banks in the United States!
There are 10000 stock companies sub
ject to the operation of this gigantic
plant An army of inspectors, exam
liners and receivers, as large as the
standing army Of the United Statesl
A bureau in Washington as large as
the pension Office and the Army and
Navy departments combined. Tens of
thousands OF men and tens of millions
of money and such vest and intricate
machinery as no country on earth has
even ventured TO approach for its
every purpose or all purposes COM
binedl
Yet how trivial these causes as COM
pared with their effect, BY means of
this vast machinery, this standing army
OF inspectors, this plentltude of govern
mental power in Washington, any pres
ident in the White House would be able
to reach his hand to the uttermost part
Of the United States, place his index
finger upon any crossroads stock COM
pany that might exist In the smallest
hamlet, and decree, as the comptroller
of the currency today DEGREES, whether
this American citizen or that American
citizen should continue In business or
should be plunged into bankruptcy and
ruin.
But the courts" some one may say.
The reply is too apparent. To a bust
ness man whose going concern has
been crushed before his eyes by gov
eminent order, a court offers nothing
but justice-only justice and nothing
more, for no suit for damages can lie
against the government of the United
States. He may walk from a federal
court with his vindication in his hand
but viii still bear on his brow the
stamp Of financial ruin.
Is this fancy? Is this a far-sought
example? Alas. no. We have only TO
turn back TO the experience of the
packers of Chicago TO realize that the
concentration of such stupendous power
in the hands Of the central government.
that the possibility. yes. the probabil-
ity Of its being exerted in the manner
In question, has been not only contem-
plated, but has been specifically intend
ed by the president on the lines laid
down In his St. Louis speech
Any man who VIII look back to the
history of the meat inspection bin win
recall that the conflict which ragged
around that mea sure, between the pres
ident Of the United States and the
House Of Representatives, did not turn
on the question Of closer federal in
spection or the payment of the cost OF
that inspection. 1t turned on the issue
whether or not there should be vested
BY law in the hands of the president s