Fort Pierce news. (Fort Pierce, Fla.) 190?-1920, 1908-12-11

10 congress, read to the two houses
the president said:
The financial standing of the natior
at the present time Is. excellent anC
The financial management Of the ma
TONS interests by the government dur
ing the last seven years has shown the
most satisfactory results. But oui
currency system is imperfect, and II
IS earnestly to be hoped that the cur.
rency commission will be able to pro.
pose thoroughly good system which
Wlll do away with the existing defects.
During the period from July /, 1901,
"a Sept, 80, 1908, there has been a net
surplus of'nearly one hundred millions
of receipts over expenditures, reduc-
ton of the interest bearing debt by
ninety 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 reduction Of taxa
ton.
Corporations.
AS regards the great corporations en-.
gsged In interstate business. and espe-
c|tlly the railroads, can only repeat
uhat l have already again and again
naid In my messages to the congress,
believe that under the interstate
cause OF the constitution the United
D.stes has complete and paramount
fIsht TO control all agencies Of Inter
tate commerce, and believe that the
national government alone can -exer-
De this right with wisdom and eff
|sctiveness 30 as both to secure justice
nom and to do justice to the great
tosporati0ns which are the most I'M
poflant factors In modern business.
Itiieve that 1t Is worse than folly to
I.lempt to prohibit all combinations,
|a Is done by the Sherman antitrust
kW. because, such a law can be en-
|Need only imperfectly and unequal
n, and its enforcement works almost
Is much hardship as good. ] strongly
,lgocate that instead Of an unwise
lsort to prohibit all combinations there
Ihall be substituted law which shall
lIpressly permit combinations which
Re In the interest Of the public, but
nall at the same time give to some
A,nncy OF the national government full
,wer OF control and supervision over
hem. One OF the chief features OF
{ BE control should be. securing entire
Nblicity In all matters which the pub
x has a right to know and, further
Apge. the power, not by judicial but
executive, action to prevent or put
stop to every form of improper ia
piltlsm or other wrongdolng.
The railways Of the country should
n put completely under the interstate
4mmerce commission and removed
pm the domain of.the antitrust law.
Pc power Of the commission should
made ACKNOWLEDGING, 80 that IL
pold exercise complete supervision
~ control over the issue Of securities
well as over the raising and lower
g Of rates. AS regards rates. at least
W power should be summary. Pow
20 make combinations and tranc
'tements should be explicitly con-
ped upon the railroads, the permits,
'p OF the commission being frsi
|bed and the combination or agree
'pt being published In all its de
F. The interests of the sharehold
Of the employees and Of the ship
should all be guarded as against
another. TO give any one Of then
1e and improper consideration Il
% Injustice to the others. Rates
be made as low as Is compatible
giving proper returns to all TIT
'Qsees OF the railroad, from thu
ss to the lowest. and proper re
70 the shareholders, but they
not for instance, be reduced II
fashion as to necessitate a Gu
wages Of the employees or TIT
,gn Of the proper and Legitimate
q nolest sllareu0l0
fAph and telephone companies
~ 10 interstate business shoult
under the jurisdiction OF the m
commerce commission.
Re ke~nrds For IulslIlusnee.
The interest Of all Of MS tina
NeQ'd be premium put upoI
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