Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1907-12-12
ROOSEVELT STANDS
FOR REGULATION OF
BIG CORPORATIONS
In Message Delivered Tuesday
He Urges a National In
corporation Act.
MONEY REFORM is NEEDED
He Leaves it to Congress to Select
Plan, but lnciincs Toward Guar
anty Fund for Protection
Many Points Covered.

Washington. d. c., Dec. 3.-Pres-
ldent Roosevelt today sent his annual
message to the siXtieth congress, and
it was read in both branches of the
assembly. In part The message Is as
follows:
The Senate and House of Represent
ativcs: No nation has greater re-
sources than ours, and i think ii can
be tr%uthfully said that the citizens of
no nation possess greater energy and
Industrial ability. In no nation are the
fundamental business conditions sound
er than i'm ours at his very moment;
and it is foolish, when such is the case,
for people to hoard money instead OF
keeping it in sound banks; for 1t is
such boarding nat is the immediate
occasion of money stringency. More
over, us a rule. the business of our peo-
Pile is conducted with honesty II pro-
bity, and this applies alike to farms
n factories, to railroads and banks,
to all our legitimate commercial enter.
prises.
there are certain to be some who are
dishonest. and IL the conditions are
such that these men prosper or com
init their misdeeds with impunity. their
example is a very evil thing for the
community. Where these men ara
business men of great saSacity and of
temperament both INSCRIPTIONS and
reckless, and wherc the conditions are
UGH that they act without supervision
or control and at first without effective
check from public opinion, they delud"
many innocent people into making in
vcstmcnts or cmbarking III kinds of
business that are really ulsound. When
the misdecds of these successfully dis
honest men are discovered. suffering
nnrnaS NOR .,lt- l,ppil t11,n, hat Iypnn he
innocent me whom theyhavc misled. II
is Il painful awakening, whenever it oc-
ours; and, naturally, when 1t does oc-
u those who suffer are apt to forget
that the longer ii was deferred the more
painful it would be. In the effort to
punish the guilty it is both wise and
to cndeavor so far as possible to
minimize The distress of those who
have been misled by the guilty. Yet it
Is not possible to refrain because Of
distress from striving to put an
n to the misdeeds that are the ulti-
mate causes of the sufferings, and. as
a means to this end. where possible to
punish those responsible for them.
There may be honest differences of
opinion as to many governmental poll
cies: but surely there can be nc such
differences as TIC the need Of unfiinch-
ing perseverance, I'm the war against
successful dishonesty.
(Hcre the president quotes from his
1905 message his declaration for the
deal between corporations anl
people and for the regulations of inter-
state to this end.)
I have called your attention in these
to what ! have already said
/ am satisfied tina it is the
duty of the national government to IN
body in action the principles thus ex-
interstate Commerce.
No small part Of the trouble that we
have comes from carrying to an ex-
IRENE the national virtue of self-re-
lance. OF independence in initiative and
action. 1t Is wise to conserve this vir-
tue and to provide for its fullest exer-
else. compatible with seeing that lib
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
then practically no interstate business
ave such az was conducted by water,
and this the national government al
once proceeded to regulate in thor
oughgoing and effective fashion. Con.
dittOns have now SO wholly changed
that the Interstate commerce by water
Is insignificant compared with thu
mount that goes by land. and almost
all big business concerns are now en-
gagged in interstate commerce. As a
result. 1t can be but partially aud i'm
perfectly controlled or regulated by the
action of any II of the several states;
such action inevitably tending to be
either too drastic or els too lax. and in
either case ineffective for of
@SsotfOn Crly thu ~nftorrJ
can In thoroughgoing fashion exercise
the needed control. This does not
mean that there should be any extern
sion of federal authority, for
such authority already exists un-
der the constitution in amp
lest and most far-reaching form
but 1t does mean that there should be
is rot advocating Capitalization. 1t is
merely looking facts in the face, and
realizing that Capitalization in busi-
ness has already come and cannot be
avoided or undone, and that the pub
lie at large can only protect itself from
certain evil effects OF this business
Capitalization by providing better
through the authority already central.
ICED i'm the national government by the
constitution itself.
/: There N be no halt in the :
: healthy constructive course OF ac-
+: ton which this nation has elected
: to pursue. and has steadily pur- :
: sued, during the last six years, as
: shown both In the legislation of
!: III congress and the administra-
: ton Of the law by the department :
: Of Justice. The most vital need IL
/: in connection with the railroads. /:
: AS tn these. in my Judgment there j:
: should % be either a national in. /: