New-York tribune., 1907-12-04

senate and House of REPRESENTATIVES.
No nation has greater resources than OURS
Hnd think it be trutnfiiily said that the
,itiI@ns OF no nation possess greater energy and
Industrial ability. In no nation ale the funda-
1NeEtai business conditions sounder than in ours
At this very rlc:aent; and It is foolish when
such Is the case. for people 70 hoard money in
stead OF keeping II in sound banks. for t is
such boarding that is the immediate occasion of
money stringency. Moreover, as q rule, the
business OF our people is conducted with hon
"sty and probity, and this applies alike 70 farms
md factories, TO railroads and banks, to ali
legitimate commercial enterprises
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 commit their misdeedS with impunity their
example is a very evil thing for the community
Where these are business men of great
sagacity and of temperament both unscrI1pTlous
ana reckless, and where the conditions are such
that they act without supervision or control and
at nrst without effective check from public
opinion they delude many innocent people into
otakhg investments or enlbarking in kinds OF
business that really unsound When the
1nlsdeeds OF these successfully dishonest men
-ate discoNeTed suffering comes not only upon
fhem but upon the innocent men whom they
have mlsled- 1t is a painful awakening when
ever II occurs, and naturally when Il does oc-
.ur those who suffer are apt to forget that
The longer il was deferred the more painful it
would be. In the effort to punish the guilty il
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 10 refrain because of such distress frt
striving to put end the misdeeds that are
The ultimate causes of the suffering and. as a
those responsible for them. There may be hon
est differences Of opinion as 20 many govern
mental policies, but surely there can be no such
differences as TO the need OF unfiinchng perSe-
Nerance in the war against successful dishon-
esty-
In my message to the Congress on December
a. 1905, said:
Il the folly Of man the general well being.
then those VINO are innocent of The folly will nave
are siyy ef ne 1o.iy- pane brought on BY
business
but such stoppaee OF welfare, though it might De
severe, would not be lasting In the long run
he one vital factor in the permanent prosperity
. ;tizS "A 1sFGan f NS1ke5 @ te apeEase Amer,
business man or professional man
of all men are SO closely intertwiaed that in the
immense majority OF cases straight dealing man
Iustry. benefits himself, must also benefit others
o beccmes rc % by % guiding gb the labor Of aPney a
ten y sc souS P eTanna wbo f 70 b Pr9aGe
, alce and both he and they share in the benefit,
superficial fact that the sharing may be unequal
5ere IS this shsrins and ' that ne i5eti g ct ma
n H. some sge oeg6ee to "a zach man concerned Normally
i,roducer are ali alike Helped by making condi9
lions such that the man Of exceptional business
abiiity receives an exceptional reward for his abl
The general prosperity but no such help Of a per-
less able and less fortunate as the results of
a, pGnsy M1cn d Sna HuTe to tnH adHantage OF
Gently; and this $ only another way OF saving
Jess fortunate must OF necessity come even more
iore the less fortunate man is moved bv envy
6nohn 90 if nfp % sy 6T0h @ to & STRIKE e at the
equally. prospered. the result will assuredly be
it viii visit with an even heavier load the one who
strikes The bioS; Taken as q whole. we must all
Yet while not merely adnittinr but insisting
oes rnmentaI restraint or SUPERVISION some of the
n " whit
tel agai1ft ,-,Ittl, THIS csmmon good The fortunes
81 t Tge S and an & ysst such Peer @ R those that WELD
30 the sovereign-that is. TO the government which
retresents the ne9nie as Whole-some effective
order 10 insure healthy social and Industrial ltfe
'y. and be accountable TO. some sovereign strong
encueh TO control its conduct 1 am in no sense
bration. and any effort to prevent all combination
cause of the contempt for law which the failure
enforce law inevitably produces. We should
The immense good effected by corporate agencies
ieecf energy and f6eity devoted to their service
therefore normally to the service Of the public
has come stay just as the trade union has come
say d Hn e G fa1o3ed @e a so o s as # does ooT
hut each should be sharply checked where it acts
The makers, Of our national constitution
provided especially that the regulation OF interstate
commerce should come within the sphere Of ths
general government The arguments In favor OF
ing But they are far stronger to-day. in view of
the enormous degerop1f' orpraf in FORM ExDeSence
has shown concusivelv that il is useless 10 try 70
get anv adequate regulation and supervision OF
these great corporations by state action Such
and supervision can only pc e1ectlEelS
.xfe6siye With the ffed OF work Of CORPORA
lieve that this regulation and supervision can be
obtained bv the enactment OF law by the congress
Our steady aim should be by leglslnItoIh IitoI
cautiously and carefully undeTtaken but Tes0uteg OF tg
4st5onsi government by affirmative action,
:, Is merely restoration from the earliest time
,,cb raen,ation OF Industrial activities has been
,scoenszed in the action OF the lawmaking bodies
i anG an 'aac ecb manner az will prevent the
possessed not only In TINS GounIIgi Uu becana
n has been misfortune that the national laws
ol this subject have hitherto been or negative oi
,+ot,.f,itive rather than affirmative kind. and.
fti more that they have IN part s9pet 10 hs2e
ga mart in their prohibitions confounded Wnat
should be allowed and what should not be allowed
9Sraint on competition whether this restraint be
reasonable or unreasonable: and where II Is not
US useless c,,,en ~ ~ of one device to evade law
Immediately develops another device TO accolnllsIl
the same purpose. What is neeoed Is hot s"eepins
,-o,1bif;o1 ~ every arrangement, good or had
which may tend TO restrict competition, but such
Fdeouate Supervision and regulation as will pre-
80 ~ -esfriction of competition from being to
the detrinlent of the public; as vel as such super.
fn no way connected with restriction OF cornpeti-
ton.
have called your attention In these quota
fions 70 uhat l have already said because
am satisfied that il is the duty Of the NATIONAL
government enbody IN action the pr.acipie5
thus expressed -, 49,,
comes from carrying to an extreme the nationai
-irtue of sef-reliance. of independence N IN
itiative and action II Is wise 20
Interstate conserve this virtue and TO prcvida
Commerce. its fullest exercise. compatible
with seeing that liberty does not