Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-04-01
PRESENT LAWS DEFECTIVE.
Would Have Commission Have
Same Power Bank Examiners
Exercise Over Natl Banks.
CONTROL OF BIG CORPORATIONS
Combination OF Capital, Like That of
Labor, is Necessary Eiemem OF
Our Industrial system


Washington. April l.--President
toseyelt has decided not to accept the
aviation OF the Illinois Manufacturers
association to deliver a speech at
Springfield. H., ON the railroad sltua-
bon, He addressed letter yesterday
to C. III. Smith, president of the ASSOC
citation. stating that 1T would be. inn
possible for him to accept their invi-
tation. extended last week, because he
aid not feel that he had anything 10 say
al this time In special address on
this special subject,
RECEIVES MANY REQUESTS.
The president has received a great
number OF requests for n statement by
him, or a speech 10 be made by him in
connection with the railway situation.
NE has given these requests the utmost
weight and most careful consid Grafton,
After fully looking into the matter the
president informed his advisers that he
had come TO the conclusion that there
was nothing now 1uther he had TO say
at this moment ON the railway situa-
tloni that he did not deem 1t either
wise or proper 10 say anything with "A
View 10 any immediate situation In
Wall street and that as he could only
give expression 10 the definite and set
ted policy 10 be carried out wholly
without regard to the eNigencics of the
moment and as his views on the policy
in question We're already a matter Of
record, 1t did MOI seem necessary at
this time 10 repeat them.
ACTS SPEAK FOR THEMSELVES.
TO the different men, friendly aud I'M
friendly who have visited him or writ
5en 10 him. he has answered verbally
tapd needed no ,expa nations whatever
and that he would not In his future
course deviate one hairs breadth from
she course he has pursued In the past
and Was now pursuing.
The statement was made from an
authoritative source today that even
Il most cursory examination of what
The president has repeatedly said IN
speeches and la messages will show
The utter aonsense of supposing the
government has the slightest intention
10 take any action which would in
validate the safety and stability of the
railway securities now issued, the
whole legislative program OF the presl-
don't having been proclaimed again
and again is Quo TO insure the future
against the mistakes and delinquencies
OF the past. The president holds that
every executive action taken under his
administration. whether by the de-
partnent OF justice or by the interstate
commerce commission, has Furnished
its own ample justification.
NO REFERENCE TO VALUATION.
1t was pointed out today In admin
istrative circles that the president has
made no reference In his spe eches or
messages to the question OF the phys
ica valuation Of railroads This posi-
lion. II was said, is that the roads
themselves Will work out this problem
as an item of bookkeeping and refer
encs WAS made to the fact that Two
roads, the Northern Pacific and the
Great Northern, already have submits
led figures as to their physical valua-
tion.
1t can be stated on authority that
the president VIII again ask Congress
at its next session. for power To deal
with the question OF oyer-ca pipliza-
lion of railroads. A similar request
WAS made at the last session but
favorable action was NOS taken up
on IT,
In his letter to Mr.. Smith. tho presi-
dent enclosed copies of the Speech"
he made at Raleigh, n. c.. Oct 49,
] g05, and the one he delivered before
delegation OF railway employees In
this city on Nov ID, 1905, together
with his last message Ia Congress at
the beginning Of the first and second
sessions OF the last Congress. The
president concludes his leIter 10 MI
Smith as follows;
CONVINCED BELIEFS ARE WISE,
You viii see In the two speeches
ana tho two messages that I have said
about all that L would say II | spoke
NOW. AS 4 said 70 your body the other
day ] have already expressed again
and again my carefully thought out be-
llnlS. ain more firmly than ever con,
vinced thai these beliets are Wise and
that tho policy I recommended ia my
message az tho opening of each Of tho
last regular sessions OF Congress must
he carried out lust at the moment
do mol see that | have much TO add TO
what ! nave already said and 7 think
that what has occurred since ! wrote
the two messages In question merely
illustrates IN striking fashion the de-
slrabilIy OF tho course ] Jhcreln OUT
lined
These por ons OF his speeches ana
messages which tho president marked
are as follows
MARKED PARAGRAPHS,
LIN his address at Raleigh tho presi-
dent said.
II DO not believe In government
ownership OF anything which can with
propriety BIZ loft In private hands. ana
IN particular should most strenuOusly
railroads. Bui ! believe with equal
llrlnness thai IL IS out VI the question
for the government not 10 exercise d
supervisory ANA regulatory right over
tbs railroad fnr II lf vital 10 the we'll
being OF the public that They should be
managed IN spirit Of falrness ana
iustiCo toward the public Actual OK
pcricnce has shown that II Us iIol nossl-
ble TO leave the railroads Uncontrolled
Such a system. Or ralhet such Lack
OF system. Is fertile IN abuses ~ every
kind, and puts premium upon unscru-
pulous and ruthless cunning Ia rail,
road management foT there aTs SOME
big shippers and solne railroad nian-
ayers who are always WllllnB tn iaks
unfair advantage OF thelr weaker COM
petitnfs ana they thereby force other
biz shlppelf ana bg railroad mon who
would Ike 70 DO deccntly' Into similar