The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-07-29

to secure equality of all before the
law, and TO save the country from the
dangers of a plutocratic government
toward which we were fast tending In
this work Mr.. Roosevelt has had the
support and sympathy of the Republi-
can party, and It's chief hope of sue
cess in the present controversy must
rest on the confidence which the peo-
pie of the country have in the sin
cerity of the party's declaration in its
platform, that it intends to continue
his policies
Necessary to Devise Some Means of
Permanently Securing Progress
Made.
Mr. Roosevelt has set high the
standard of business morality and ODE
dience to law. The railroad rate bill
was more useful possibly in the fmme-
date moral effect of its passage than
even in the legal effect of its very pro
visions. From its enactment dates the
voluntary abandonment of the practice
of rebates and determinations by The
railroads and the return by their man
ayers TO obedience to law in the fix
meat inspection laws and the prosscu-
tions directed by the president under
the antitrust law have had a similar
moral effect in the general business
community and have made II now the
common practice for the great indus
trial corporations to consult the law
with a view to keeping within its pro-
visions. 1t has also had the effect of
protecting and encouraging smaller
competitive companies so that they
have been enabled to do a profitable
| business.
But We should be blind to the or
binary working of human nature If
we did not recognize that the moral
standards set by President Roosevelt
will not continue to be observed by
| those = nom cupidity and a desire for
financial power may tempt, unless the
requisite machinery is introduced in
/ to the law which shall in its practical
operation maintain these standards
and secure the country against a de
paTture from them.
/ Function of Next Administration.
The chief function of the next ad
ministration, in my judgment. is dis
| tinct from, and progressive de
Ivelopment of that which has been per
formed by President Roosevelt The
chief function of the next administra
| ton is TO complete and perfect tbs
machinery by which these standards
lmay be maintained by which the law
| breakers may he promptly restrained
and punished, but which shall OpeT
ate with sufficient accuracy and dis
patch 10 interfere with Legitimate
business as little a possible
| Work of Next Admini stration.
The field covered by the industrial
combinations and by the railroads i
so very extensive that the interests o
the public and the interests of tn
i businesses concerned cannot be pTOn
erly subseTved except by reOTganiZa
ton of bureaus in the Department o
Il Commerce and Labor. of Agriculture
and the Department of Justice, and
lchange in the jurisdiction of the In
terstate Commerce Commission
does not assist matters to pTeScrlb
new duties for the Interstate Com
merce Commission which il is pTaC
ticalIy impossible for it to perform
or TO denounce new offenSeS Wit
drastic punishment. unless subOrd
nate and ancillary legislation shall b
passed making possible the quick er
lfoTcement in the great variety O
cases which are constantly arising @
, 1.-THE principles laid down by MIR. ROOSe
, veIt and with respect TO which Orl
, typical instances of prosecution Wit
: the present machinery are possible
FL Physical Valuation of Railways.
4 Some of the suggestions of the Demo
2 cratic platform relate really 10 thI
4 subordinate and anCillaTy maChineT
5 to which I have referred. Take 70
2 instance the sO-called physical va
+ nation of railways" II Is clear tina
Y the sum of all rates or receipts of
2 railway. less proper expenses. Shoul
+ be limited 10 a fair profit upon II
' reasonable value of its property, an
0 thai if the sum exceeds this measure
{ ii ought 10 be reduced The difficult
' in enforcing the principle is in asce'
II tanning what is the reasonable vaII
:, o. the cempanx,s property. and in n