The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1907-12-03
PRESIDENT 'SMESSAGE

s"e~O@Vs OvW@ASAt4A1
TIE p~~sht~nt in hi. message to 600.
or~~s asys;
No natioa hsx greater r~~ours~s than
o1rs. and | think |, rAu lie trnshfullr
said that the ci,is~ns OF no nation pos
seep greater energy and Industrial ahIt
NY In no nation sr~ the funda n,.n:sj
husln~ss conditions soand~r than In
ours al this very moment. AMI " /.
foolish when such is the case for I..,,
pie TO hoard money instead OF keeping
\ In scund hanks. for I, Is such hoard.
ting that II the Immediate occasion II
money strinxency Moreover. as .
rule, the business Of our people IL coz.
Quoted With honesty and prohity. and
this applies alike to farms and fac.
tories. 10 railroads and banks, to all
our legitimate commercial enterprises
In any large body OF men. however.
there are certain to be sone who are
6lshoQeet. and II the conditions are
such that .hes.. men prosper or commit
their miSdeed> with IMMUNITY their
example IS 4. rW, evil thing for the
community. where these men a-~
business 'nen of grea. sagacity and %
temperament both INSCRIPTIONS aud
reckless IN! where the conditions are
such that they act without supervision
or control aud 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 miedeeds OF these successfully dis
honest men are discovered, suffering
comes not only upon them, but upon
the innocent whom they have misled,
1t is painful awakening, whenever Il
occurs, and naturally when 1t does oc
eur those who suffer are apt to forget
that the longer 1t was deferred the
more painful 1t would be. In the effort
to punish the guilty 1t is both wise and
proper to endeavor 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
such distress from striving to put an
end to the misdeeds that are the ut-
mate causes Of the suffering and. as a
means to this end, where possible to
punish those responsible for them.
There may he honest differences OF
opinion as to many governmental poll
n{o o1r no Sl,f y,
differences as to the need OF unainch-
ing perseverance In the war against
successful dishonesty.
Interstate Commerce..
No small part of the trouble that VIC
have comes from carrying TO an ex
treme the national virtue OF self reli
ance OF independence in initiative
and action. 1t is wise to conserve this
virtue and to provide for it's fullest
exercise compatible with seeing tha
liberty does not become liberty tt
wrong others. Unfortunately THIS !.
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
save such rs was conducted by water,
and this the national government ~
once proceeded to regulate in thoroUg l.
going and effective fashion. Conditions
have now so wholly changed that TIE
Interstate commerce by water is insiI-
uiticant compared with the amount
that goes by land. and almost al ihH
business concerns are now engaged III
interstate commerce. As "a result II can
be but partially and imperfecty con
t,ollol or regulated hy the action az
ANY one OF the several states, such &c
ton inevitably tending TO Ike either
too drastic or else too lax aud In either
case Ineffective FOR purposes OF justice
Only the national government can III
thorn lghgoing fashion exercise th"
nec,lcd control This does not mean
that here should lee any extension "i
federal authority, for such authority
ALREADY exists under the constitution
fu aniples, and most far reaching Form
but 4, docs mean that there should be-
an extension ~ federal arti'lN ihlN
IL not advocating cehtFeii@ah"" ~ -
merely looking facts Ia the fscr ana
realizing that Capitalization 10 bnsii'cr'
mas already com. and cannot be a''ld
-,i ur uudnnr aud that The rub'" ~
large ,au anly protect itself from '''
tails evil effects "t this business cen
tralsAt.oa bs pros flius brtter m",h'"''
for th. rsef IA, IT consrol tnfoush me
sath,site already crnirallsed D" 'h
nsuonaI government nf th' '""r'''''
ton Itself rheFs must le ne Ia
the healthy constructive r"'ifs' ''
u.n Whlrh tbis aalAas has ~'s' '''' .'
par,,s. ana has sgsadit puFss'"' ''
,u. a.. last .is scar. a. shown i''
ia ths legislation nt rho r"a ss"""
the almgAgsffss.e4 20 th" az '' '''
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