The semi-weekly messenger., 1907-12-06


triment OF the public, as well as such
d supervision and regulation as will pre-
vent other abuses in no way connect
y ed with restriction OF competition"
ri have called your attention in these
otation to what l have already said
because I am satisfied that it Is the
duty Of the national government to en-
body in action the principles thus ex-
pressed.
INTERSTATE COMMERCE.
No small part of the trouble that we
have comes from carrying to an ex-
treme the national virtue OF self-reli-
.ance, Of independence in initiative and
action. It is wise to conserve this vir-
tue and to provide for its fullest exer
else, compatible with seeing that liber-
ty does not became liberty to wrong
others. Unfortunately, this is the kind
Of liberty that the lack of all effec-
tive regulation inevitably breeds The
founders of the constitution provided
that the national government should
have complete and sole control of in
}pTacticaly no interstate business save
such as was conducted by water, and
this the national government proceed
ed to regulate in thOrOghgOing and eff
fCctive fashion. Conditions have now
so wholly changed thai the interstate
commerce by water is insignificant
compared with the amount that goes
BY land and almost all business con-
Germs are now engaged in interstate
commerce. AS a result, it can be but
partially and imperfectly controlled or
regulated by the action Of any one OF
the several states; such action newt
ably tending to be either too drastic
Oh else to lax, and in either case inef
fective for purposes or justice. Only
the national government can in thor
oughgoing fashion exercise the needed
control. This does not mean that there
should be any extension Of federal au-
thOrty for such authority already ex-
lists under the constitution in
amplest and most far-reaching
fern; but it does mean that
81 activity. This is not advocating
Capitalization. 1t is merely looking
facts in the face, and realizing that
Capitalization in business has already
come and cannot be avoided or un-
done, and that the public at large can
mpnly protect itself from certain evil
Rekects of this business Capitalization
by providing better methods for the ex-
ercise Of control through the authori-
lty already centralized in the national
g4yernment by the constitution itself
There must be no halt in the healthy
constructive course of action which
this nation has elected to pursue, and
has already steadily pursued, during
the last six years, as shown both in the
legislation Of the congress and the ad-
mlnistration OF the law b ythe depart
ment of justice. The most vital need
in connection with the railroads. As
to these, in my judgment there should
now be either national incorporation
act or a law licensing railway COM
panles to engage in interstate COM
merce upon certain conditions. The
law should be framed as to give the
interstate commerce commission power
tC pass upon the future issue of seen
r;tiess while ample means should be
a provided to enable the commission,
whenever in it's judgment it is neces-
sary to make physical valuation Of
any railroad. AS 1 stated in my mes
sage to congress year ago. railroads
should be given power to enter into
agreements, subject tC the agreements
being made public in minute detail and
TO the consent Of the interstate COM
merce commission being first obtained.
Until the national government assumes
proper control Of the interstate COM
merce, in the exercise of the authority
1t already possesses, it will be impos-
sible either to give or to get from the
railroads full justice. The railroads
and all other great corporations will
do we'll to recognize that this control
must come; the only question is as to
what governmental body can most
wisely exercise it. The courts will de-
termlne the limits within which the
federal authority can exercise it. and
there Will still remain ample work
within each state for the railway COM
mission OF that state; and the nation
l al interstate commerce commission will
work in harmony with the several state
commissions, each within its own DrO
vince, to achieve the desired end.
SHERMAN ANTITRUST LAW.
Moreover, in my judgment there
should be additional legislation look
ing T., the proper cont oil Of the great
BUSINESS concerns engaged in inter-
tnto