Fitzgerald enterprise. (Fitzgerald, Ga.) 1895-1912, 1908-12-08

Sherman Act Should Be Amended to
Permit Combinations Which Are In
the Interest of the Public, Says the
President -- Urges Legislation to
Safeguard the Waseworkers-DweIls
en- Need Of Protection For Forests.
Views on the Army and the Navy.
Washington, Dec. SIN his message
10 congress, read to the two houses,
the president said:
The financial standing of the nation
mt the present time is excellent, and
the financial management of the ma
lions interests by the government dur
INK the last seven years has shown the
most satisfactory results. But our
currency system Is imperfect, and 1t
is earnestly to be hoped that the cur
rency commission will be able TO pro-
pose Il thoroughly good system which
will 20 away with the existing defects.
During the period from July l. 1901,
10 sept 30, 1908, there has been a net
Surp.a OF nearly one hundred millions
!. Of receipts over expenditures, reduc-
tion Of the interest bearing debt by
ninr.y millions, in spite OF the extraor-
binary expense of the Panama canal
and saving OF nearly nine millions
on The annual interest charge. This is
an exceedingly satisfactory showing.
There has been a reduction Of taxa
ton.
Corporations.
AZ regards the great corporations en-
gagcI In Interstate business, and espe
cially the railroads. can only repeat
what ! have already again and again
said in my messages to the congress.
! believe that under the interstate
clause Of the constitution the United
States has complete and paramount
right TO control all agencies of inter
state commerce, and believe that the
national government alone can exer-
else this right with wisdom and eff
aectireaess so as both To secure justice
from and to do justice to the great
corporations which are the most im-
portnnt factors in modern business.
believe that 1t Is worse than folly to
attempt to prohibit all combinations,
IS Is done by the Sherman antitrust
law, because such Il law can be en-
forced only imperfectly and unequal
~, and Its enforcement works almost
rs much hardship as good. I strongly
advocate that instead of an unwise
effort to prohibit all ordinations there
shall he substituted n law which shall
expressly permit combinations which
are in the interest of the public. but
shall as the same time give to some
agency OF the national government full
power Of control ana supervision over
them. One of the chief features of
this control should be securing entire
publicity In all matters which the pub
SIC has A right to know and. further
morc. the power, not by judicial, but
by executive. action to prevent or put
a stop TO every form OF improper IA
vOritism or other wrongdoing.
The railways OF the country should
be put completely under the interstate
commerce commission and removed
from the domain Of the antitrust law.
The power OF the commission should
be made thorOughgoing. so that 1t
could exercise complete supervision
and control over the issue Of securities
es we'll as over the raising and lower
Ang Of rates. As regards rates, at least
this power should be summary. Pow
or b. make combinations and traffic
agreements should be explicitly con
Acrred upon the railroads. the permis
sion VI the commission being first
gained and the combination or agree
maent being published in ali its de-
tails. The interests of the sharehold-
egs, Of the employees and Of the ship
perS should all be guarded as against
0ne another. To give any one of them
andNe and improper consideration is
10 do injustice to the others rates
must be made as low as is compatible
With giving proper returns TO all the
employees of the railroad. from the
1ixhest TO the lowest. and proper re-
urns to the shareholders. but they
must not, for instance, be reduced in
IHch fashion as TO necessitate a cut
a the wages OF the employees or the
.bohtton Of the proper and legitimate |
,rofits of honest shareholders.
Telegraph and telephone companies |
ngaged In interstate business should J
(. put under the jurisdiction of the In
esstate commerce commission.
Ample Rewards For IntslIisenee.
II Is TO the interest Of all of us tb at
AeFe should lie q premium put ur OH
lalividuai Initiative and Individual Gu
acity and an ample reward for the
reaa directing intelligences alorA COM
psent TO manage the great business
,ersfions of today. 1t is WEI to keep
nIii.d that exactly as the anarchist |
the WORT enemy of libe<ty and the
aei;snary the worst erAmy of order
the men who defend the rights of
.otnasy have most 20 fear from the /