The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1908-12-08
THE PRESIDENTS MESSAGE.

THE EsiDENT's MESSAGE.
President Roosevelt's last annual
message to congress was submitted
TO that body today and is printed in
full in this Issue of The Gate City
AS will be seen on perusal it is an able
and conservative state document. in
keeping with the present situation of
the country and the Importance OF the
issues with which il deals. The ,es-
sage begins with an expression of sat
isfaction at the present financial
standing of the nation. coupled with
the hope that the defects in our cur
rency system will be remedied through
the recommendation TO be proposed
by the currency commission. OF
fetal statistics are quoted showing
that during the past seven years and
three months there has been a net
surplus in the nations finances of
nearly one hundred millions of re-
ceipts over expenditures. reduction
of the Understanding debt by ninety
millions, in spite of the extraordinary
expense of the Panama canal and a
saving of nearly nine millions on the
annual interest charge This. ii is
pointed out, is an exceedingly satisfac-
tory showing. especially in view OF the
fact that during this period the ma
ton has never hesitated TO undertake
any expenditure that it regarded as
necessary.
AS regards the great corporations
engaged in interstate commerce. the
President repeats what he has already
said again and again in his messages
to congress. He believes that under
the Interstate commerce clause of
the constitution the United States has
complete and paramount right to con-
troll all agencies of interstate com
merce, and that the national govern
ment alone can exercise this with
wisdom and effectiveness. He believes
it is worse than folly to attempt to
prohibit all combinations as is done
by the Sherman anti-trus: law. AID
recommends that there be substituted
for that law one which will expressly
permit combinations which are in the
interest of the public. He would put
the railways of the country complete
ly under control of the interstate CON-
merce commission and remove tho n
from the domain of the antitrust law
One of the chief features of this con-
troll should be securing entire public
ity in all matters which the public has
right to know. He recommends also
that telegraph and telephone com
panies engaged in interstate business
be put under the jurisdiction of the
interstate commerce commission
In discussing the subject of labor
the President expresses the hope OF
steady efforts in many directions to
bring about q condition of affairs I'M
der which the men who work with
hand and brain shall own a far great
er share than at resent of the wealth
they produce, and be enabled to in
vest it in the tools and instruments by
which all work is carried on. The de-
positors in our savings banks now
number over one-tenth of our entire
population. The more We increase
their number The more We introduce
the PRINCIPLES of cooperation into our
industry. The President admits that
very much of this movement must be
outside OF anything that can be ac-
complished by legislation, but he main
tains that legislation can do a grea.
deal He enumerates as follows the
reforms for which we should work
Postal savings banks will make il
easy for the poorest to keen their sav.
ings in absolute safety. The regula-
ton Of the national highways must be
such that they shall serve all people
with equal Justice Corporate finances
must be supervised so as to make il
far safer than at present for tho man
Of small means to invest his money in
stocks. There must be prohibition OF
child labor, diminution OF woman la
Dor. shortening OF hours of all me-
chanical labor stock watering should
be prohibited and stock gambling 20
far as is possible discouraged. There
should be a progressive inheritance
tax on large fortunes Industrial IN
cation should be encouraged. As far
as possible We should tighten the bur
den ot AVIATION on the small man We
should put q premium upon Thrift.
hard work and business energy hut
these qualities cease TO be the main
factors IN accommodating a fortune
long before that fortune req rs
point where il would be seriously ar
fected by any Inheritance tax such as
propose. Il is eminently right thar
the nation should fix the terms upon
which the great fortunes are inner
tied They rarely do good and thev
often do harm TO those who inherit
them in their entirety
The message takes strong ground III
favor of protection for wageworkers
and recommends that the law passed
al the last session Of congres IS grant
ing compensation to certain classe
OF employes Of the government be
extended to inclu all employee Of the
government and be made more liberal
in its terms Il is maintained that
there is no good ground for The dis
tinction made in the law between
hoe