The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1907-12-06
PRESIDENT ROOSEvELTS
ANNUAL MESSAGE
Legislation Which He Urges the
Sixtieth Congress to Enact


Message of the President was read
before the opening session of the new
Sixtieth Congress. It's reading was
followed with intense interest by the
members of the two houses and
many passages were vigorously ap-
plauded. The Message is, in part, as
follows:
To the Senate and House of Repre-
sentatives.
No nation has greater resources
than ours. and think ii can be truth
fully said that the citizens of no ma
tion possess greater energy and in
dustrial ability. In no nation are the
fundamental business conditions
sounder than in ours at this very mo-
ment; and il is foolish. when such is
the case. for people 10 hoard money
instead OF keeping ii in sound banks:
for IL is such boarding that is the inn
mediate occasion of money stringency.
Moreover, as a rule, the business of
our people is conducted with honesty
and probity. and this applies alike TO
farms and factories, to railroads and
banks, to all our legitimate CONNER
cial 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 com
NIT their misdeeds with impunitv,
their example is a very evil thing
for the community Where these
men are business men of great sagac-
ity and Of temperament both unscru-
pulous and reckless. 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 in
nocent people into making invest
ments or embarking in kinds OF busi-
ness that are really unsound When
the misdeeds of these successfully dis
honest men are discovered, suffering
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 it
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 mini
mize the distress of those who have
been misled by the guilty Yet il is
not possible TO refrain because of
such distress from striving to put an
end to the misdeeds that are the ulti-
mate causes Of the suffering, and, as
means 10 this end. where possible
TO punish those responsible for them
There may be honest differences of
opinion as TO many governmental pol
icies; but surely there can be no such
differences as TO the need Of unfinch-
ing perseverance i'm the war against
successful dishonesty
No small part of the trouble that
we have comsS from carrying TO an
extreme the national virtue of self
reliance, Of independence in initia-
tive and action. II is wise to con-
serve this virtue and to provide for
its fullest exercise, compatible with
seeing that liberty does not become
liberty to wrong others. Unfortu-
nately, this is the kind of liberty that
the lack of all effective regulation
inevitably breeds The founders Of
the Constitution provided that the
National Government should have
complete and sole control Of inter
state commerce. There was then
practically no interstate business
save such as was conducted by water,
and this the National Government at
pliSt plOOttutu " regulate III lHOT-
oughgoing and effective fashion
There must be no halt in the healthy
constructive course of action which
this Nation has elected TO pursue, and
has steadily pursued, during the last
six years, as shown both in the legis-
lation of the Congress and the admin
istration of the law by the Depart
ment OF Justice The most vital
need is in connection with the rail-
roads. Az to these, in my judgment
there should now be either a national
Incorporation act or a law licensing
railway companies 70 engage in inter
state commerce upon certain condi-
tions. The law should be so framed
as to give 10 the Interstate Com
merce Commission power TO pass
upon the future issue Of securities,
while ample means should be pro-
vided TO enable the Commission,
whenever in its judgment it is neces-
sary, to make a physical valuation of
any railroad. As | stated in my Mes
sage to the Congress a year ago, rail
roads should he given power to enter
into agreements, subject TO these
agreements being made public in mi
mute detail and 70 the consent Of the
Interstate Commerce Commission be-
ing tirst obtained. Until the Nation
al Government assumes proper con-
troll OF interstate commerce, in the
exercise of the authority it already
possesses. it will be impossible
either 10 give 10 or to get from
the railroads full justice. The
railroads and all other great cOrpor-
ations will do well 10 recognize that
this control must come; the only
!, VVagVT VTfaFa fol
body can most wisely exercise it. The
courts will determine the limits
within which the Federal authority
can exercise It, and there will still re-
main ample work within each State
for the railway commission Of that
State; and the National Interstate
Commerce Commission will work in
harmony with the several State COM
missions, each within its own prov
ince. TO achieve the desired end
Moreover. in my judgment there
Il