The Alamogordo news. (Alamogordo, N.M.) 1899-1912, 1907-12-07
SUGGESTS REMEDIES FOR ILLS
CONTROL OF CORPORATIONS AND
RAILROADS TO PREVENT
oVERcAPITALIzATIoE.
Believes This Would Solve the Prob
lem Together with Provision for
More Elastic Currency-Reeon1'
mends Postal Banks and Asks for
Legislation Along Many Lines.

The opening of congress on
Monday, December ,, was at
tended by brilliant assemblage.
Out of respect to Senators Pettus
and Morgan, who died during
the recess, the senate adjourned
until Tuesday, ut which time
the Presidents message was
read to both houses.
Jos. G. Cannon (Uncle joel
was reelected speaker OF the
house. John Sharp Williams,
leader Of the Democratic side,
was slated for the speakership
by the Democrats.
The presidents message is the
longest on record. No mention
Of statehood is made; it recon-
mends that campaign expenses
of presidential candidates be
met by an appropriation from
the national treasury; that cor
porations be prohibited from con-
tributing toward campaign eX-
penses: that railroads be grant
ed more liberal interstate priv
ileges; that corporation laws be
modified. In recommending
that the use Of the writ Of in
junction be limited, and in re-
indorsing the proposed law Of
employers liability to workmen,
and the extension of the present
eight-hour law, organized labor
has won signal victory over
corporate opposition.
The message, in condensed
form, is as follows:
WASHINGTON Dec. 8. - President
Roosevelt's annual message to congress
is yoluminous document of nearly
10000 words, by far the longest mes
sage he has ever submitted to congress.
The opening subject of the message Is
the financial condition of the country,
and for which the president lays much
of the blame upon unscrupulous STOCK
spectators, and says:
In any large body of men, however,
there are certain to be some who are
dishonest. and if the conditions are
such that these men prosper or com
init their misdeeds with impunity their
example is a very evil thing Tor the
community. Where these men are busi-
ness men of great sagacity and OF tenn
perament both unscrupulous and reck-
less and where the conditions are Such
that they act without supervision or
control and at first without effective
check from public opinion, they delude
many innocent people into making IN
vestments or embarking in kinds of
business that are really unsound
When the misdeedS of these successful
ly dishonest men are discovered, suf-
fering comes not only upon them, but
upon the innocent men whom they
have misled 1t is painful awakening,
whenever it occurs, and, naturally
when it does occur those who suffer
are apt to forget that the longer 1t was
deferred the more painful it would be,
In the effort to punish the guilty it is
both wise and proper to endeaVor so
far as possible to minimize the dis
tress of those who have been misled by
the guilty. Yet it is not possible to
refrain because of such distress from
striving to put an end to the misdeeds
that are the ultimate causes of the sut-
fering, and, as q means to this end,
where possible to punish those re-
sponsible for them There may be hon
est differences of opinion as to many
governmental policies; but surely there
can be no such differences as to the
need of unflinching perseverance in the
war against successful dishonesty"
He quotes at length from his mes
sage of last year in which he advo-
Gated federal control of corporations
doing interstate business and believes
that in such control would be found the
remedy for overcapitalization and
: stock speculation which he believes
have brought about the present tinan-
cial conditions. He says:
Our steady aim should be by legis-
lation. cautiously and o"retnlly under
CONTINUED on Pare / Col