CanÌƒon City record. [volume] (CanÌƒon City, Colo.) 1883-192?, 1908-12-10
PRESIDENTS
MESSAGE
Lakes Annual RecOmmen-
dations to Congress.
ATTACKS ANTITRUST LAW

eSS8 uWeSSO8S ~ sssS eo1SsNS w. $50
Prssidsnt = ursss Legislation to
oafsouard the Wassvsorkses- Dws,is
sa Need Of Profession Fer Forssas.
Vissss On ths Army and tiss Navy.
Washington, Dec. ain his message
% congress, read to the two houses
he president Aid:
The financial standing Of the nation
ct ths present time h excellent, and
he financial Management OF the ma
eaou's interests by the government dur
oag the last seven years has shown the
most satisfactory resulta- But our
eurre0cy system y imperfect. and 1t
y earnestly to be hoped that the cur
Usncy commission will be able to pro-
pose q thoroughly good system which
Hv1ll do away with the existing defects.
During the period from July I. 1901,
- Sept 30. 1905. there has been q net
surplus Of nearly one hundred millions
e( receipts over expenditures, Q reduc-
don Of the interest bearing debt by
ainety millions, In spite Of tie extraor-
! Annasy axDsnss ee IL Panama canal
and Q saving Of nearly nine milliO0s
sn ths annual interest charge. This h
IN exceedingly satisfactory showing.
6hsro has b0an Q reduction Of taxa
eloa-
ceepssstisas. ~
A. regards the great corporations en-
0agsd In interstate business. and espe-
e1ally ths railroads, can only repeat
what I have already again and again
aid In my messages to the congress.
I believe that under the interstate
clause Of the constitution the United
States has complete and paramount
right 10 control ail agencies Of inter.
stats commerce. and believe that the
nAtional government alone can exer-
60 this right with wisdom and ef.
1octivenees % - both to secufe Justice
from and to do justice to the great
eosposatjoos which are the post Ina.
poeflnt factors In modem fafnsss.
believe that II b wosss than folly to
ottsmpt to prohibit all combination,
= b done by the Sherman anti-truat
1aW, bscauss such Law can b. en-
6pEesd only imperfsetiy and unequal
b, and its 1aforcsment works almost
q much Aardahip ~ good strcogiy
advocate that. instead OF an unwioe
EFFORT to prohibit all combinations there
ahaIl b Substituted law which shall
expressly permit combinatioos which
are In The interest Of the public. but
aGency Of ths nat1onal 00veenmaot full
DoWsr q control and Supsrvisioo over
ehem. One Of the eAIse features OF
ehis cootrol should BE- securing entire
Dohlicity In all matters which the pub
Nc has q right to know and. further
Rors, The power. not BY judicial. but
b executive, action to prevent or put
Q stop to every form OF Improper ia
vsr1tism o. other wronedolnE.
Tha Faiiways Of the country should
b pat completely under the interstate
eoDmerce commission and removed
from the domain Of the antitrust Law.
T0e power Of the commission should
- made thoeoughgotng. % that It
could exercise complete supervision
and control over the issue Of securities
% well N over the raising and lower
ing Of rates. Al regards rates. at least
tAis power should be summary. Pow
q to mike combinations and trafnc
agreements should Be explicitly con
ferred upon the railroads. the permis-
SION Of the commission being frst
gained and the combination or agree
nent being published In all its de-
taila The interests Of the sharchold-
On, Of the employees and Of the ship
perv should all be guarded a. against
one another. To give any one Of them
undue and improper consideration IL
b do injustice to the Others. Rates
must be made a. low n 10 compatible
with giving proper returns to all the
employees Of the railroad. from the
highest to the lowest, and proper re-
turns to the shareholders, bat they
must ma. for instance, be reduced In
such fashion 40 to necessitAte . cut
in the wages Of the employees or the
abolition Of the proper and legitimate
profits Of honest shareholders.
Telegraph and telephone companics'
engaged in Interstate business should
Be- put under the Jurisdiction of the In
tsestate commerce commission.
Ample Rewards For Intelligence.
II is to the interest of all Of us that
there should be a premium pu, upon
andividual Initiative and individual ca
pacity and an ample reward for the
GFsat directing intelllgences alone COM
potent to manage the great business
operations Of today. Il Is well to keep
q mind that exactly a. the anarchist
D the worst enemy Of liberty and the
eeactiouary the worst enemy OF order
% The men who defend the rights Of
Droperty have most to fear from the
Wronsdoers Of great wealth, and the
men who are championine popular
rights have most to fear from the