The Barre daily times. (Barre, Vt.) 1897-1959, 1908-12-08
Makes Annual Recommends
ton to That Body
ATTACKS ANTITRUST LAW
Urges Legislation to Safeguard Wage.
workers-Dwells on Need Of Pro-
eetion for Forests-Army
and Navy.

NanhlhEloHi Dtc. o.-A ne president 3
annual message to Congress was read in
both houses shortly after noon to-day.
Its reading was closely followed, but no
great enthusiasm was evoked. The pres.
ident said in parts
The financial standing OF the nation
at the present time is excellent, and the
financial management Of the nations IN
terests by the government during the
last seven years has shown the most
satisfactory results. But out currency
system is imperfect and il Is earnestly
to be hoped that the currency commits.
sion will be able to propose a thoroughly
good system which will do away with
the existing defects.
During the period from July !, 1901
to Sept. 30, 1908, there has been net
surplus of nearly one hundred million Of
receipts over expenditures, reduction
OF the interest bearing debt by ninety
millions, in spite OF the extraordinary
expense of the Panama canal and saw
ing OF nearly nine millions on the annual
interest charge. This is an exceedingly
satisfactory showing. There has been a
reduction OF taxation.
Corporations.
As regards the great corporations en-.
gagged in interstate business. and espcc.
Tally the railroads, | can only repeat
what l 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 interstate com.
merce, and / believe that the national
government alone can exercise this right
with wisdom and effectiveness SO as both
to secure justice from ard to do Justice
to the great corporations which are the
most important factors in modern busi
ness. / believe that it is worse than
folly to attempt to prohibit all com
binations, as is done by the Sherman
anti trust law because such n law can
be enforced only imperfectly and un
equally, and its enforcement works al
most as much hardship as good | strong.
~ advocate that instead Of an unWisc
effort to prohibit all combinations there
shall be substituted a law which shall
expressly permit combinations which arc
in the interest OF the public, but shall
at the same time give to some agency
Of the national government full power
OF control and supervision over them
One Of the chief features of this control
should be securing entire publicity in all
matters which the public has right
to know, and, furthermore, the power.
not by judicial, but by executive, action
to prevent or put a stop to every form
Of improper fayortism or other wrong,
doing.
The railways Of the country should be |
put completely under the interstate com. |
merce commission and removed from the |
domain of the anti trust law The power |
Of the commission should be made thor /
ough going, so that it could exercise I
complete supervision and control over /
the issue Of securities as we'll as over
the raising and lowering of rates As !
regards rates, at least this power should |
be summary. Power to make combina. /
lions and traffic agreements should be
explicitly conferred upon the railroads. /
the permission of the commission being |
fire gained and the combination or agree !
men being published in all its details |
The interests Of the shareholders of the |
employees and Of the shippers should all !
he guarded as against one another To
give any one Of them undue and improper /
consideration is to do injustice to the
Others, Rates must be made as low as is
compatible with giving proper returns
to the shareholders, but they must not,
for instance, be reduced in such fashion
as to necessitate a cut in the wages of
the employees or the abolition Of the
proper and legitimate profits Of honest
Telegraph and telephone companies en-
gagged in Interstate business should be
put under the jurisdiction Of the inter
state commerce commission
Ample Rewards for Intelligence.
1t is to the interest of all Of us that
there should be premium put upon
individual initiative and individual ca
pacity and an ample reward for the great
intelligences alone competent to
manage the great business operations Of
to-day. 1t is well to keep in mind that
exactly as the anarchist is the worst
enemy Of liberty and the reactionary the
worst enemy of order, so the men who
defend the rights Of property have most
to fear from the wrongdoers OF great
wealth, and the men who are champion.
ing popular rights would do wrong to
and oppress honest business men. honest
men Of wealth, for the success of eth
er type Of wrongdoer necessarily invites