The St. Lucie County tribune. (Fort Pierce, St. Lucie County, Fla.) 1905-1920, 1907-12-06
National License For Railroads

Judgment, lhcre should now be either
national Incorporation act or n law
.cehSing railway companies to engage
100 Interstate commerce upon certain
Conditions. The law should be so
framed ms to give to the interstate
commerce commission power To poss
npou the future issue of securities.
While ample means should he provided
t. enable the commission Whenever I'm
Us Judgment 1t Is necessary To make n
physical valuation Of any railroad AS
! stated In my message To the congress
a year ago, railroads should be given
lower to enter into agreements sub.
icct 10 these agreements being made
public in minute detail and To the con.
sent of the Interstate commerce com.
mission being first obtained Until
the national government assumes prop
er control Of interstate commerce in
the exercise of the authority It already
possesses ii will he impossible either
To give To or to get from the railroads
ful justice. The railroads and all 9th.
er great corporations Will do well to
recognize that this control must come.
The only question Is us to what gov.
crnmental body can most wisely eXer.
else 1t. The courts will determine the
limits within which the federal author.
iti 'sn exercise 1t. and there will still
renNun ample work within each state
for the railway commission Of that
state, and the national interstate com.
ncrCe commission will work in hur.
mony with the several state commits.
slons, each within It's own province, to
achieve the desired end.
The Antitrust Law.
Moreover In my Judgment, there
should I've additional legislation looking
10 the proper control OF the great busi-
hess concerns ged In interstate
business, this control to be exercised
for their own benefit and prosperity
no less than for the protection of III
vcstors and Of the general public. AS
| have repeatedly said In messages to
congress and elsewhere experience has
definitely shown not merely the unwis-
dom, but the futility, of endeavoring I"
put Il stop to all business com binations.
Modern industrial conditions are such
that combination Is not only necessary.
but Inevitable. 1t Is so In the world or
business Just as It is so In the world
OF labor. and il is rs idle to desire to put
an end To all corporations. to all Dig
combinations Of capital. as to desire 10
nut an end to combinations OF labor.
Corporation and labor union alike have
come TO stay. Each II properly man
aged Is source of good and not evil
Whenever i'm either there Is evil II
should be promptly held to account
Int ii should receive hearty encourage
ment so long rs it Is properly Managed
II Is profoundly immoral to put OF
keen on the statute books law hoiii''
ually in the interest OF public morallty
that really puts premium upon pun
lie immortality by undertaking 10 ror'
bid honest men from doing what must
be done under modern business colu''
tons so that the law ITSELF pro'iueS
that its own infraction must De tue
condition precedent upon business SUE.
cess. TO aim ut the Accomplishment
of too much usually means the "ceo'
nlisbment of too little and often the oo'
ing Of positive damage
Not Repeal, but Amendment
The antitrust law should not DC re-
healed, but 1t should I've maoe oo'n
moro efficient and more In harmony
Win octual conditions. 1t shou'u NC
so amended us to forbid oh'! Tue NH"
Of combination which does har'l, ~ INC
general public. such amehulheh, W
occomnonied by or to be an incident ~
grant of supervisory power 10 ane
oo,,orpment over these big concerns
engaged In Interstate business. lh,s
should be accompanied by provision
for the compulsory publication ~ nd
counts and the subsection OF pooN' "n.
nonars TO the inspection OF Tue so
ornnont officials. A beginning mas III
roodv heen made for such superN's'os
80 establishment Of the bureau VI
Tho antitrust law should not proh'pi'
,'h,nntions TINT do no injustice ~
the public. still less those the eA, 'ouast
~ which Is on the whole " De
% the public. But even II th's 'e", .,,,d
y, tha law were abolished there "o"'u
ra,noin ma an equally obJectiohaple , .vI
t,re the difficulty and delay now lam
dent dent to It's enforcement, The go'e ond
ment must now submit to i .,I,so Anal ,,u
reneated delay before op'a 'li'.s
decision of the courts upon proe ,Io de.
instituted. and even tato'" .',otorv
cree may mean an e"'p "n+roI these
Moreover, to attempt to CONF, ~ 70 I'm.
corporations by lawsuits means .u.m'ent Of
pose upon both the dep"I ,mnossible