Kingsbury County independent. (DeSmet, Kingsbury County, S.D.) 1894-1929, 1908-12-11
ROOSEvELT'S FINAL
ADDRESS TO CONGRESS
Presidents Message Reiterates
Need of Reforms He Has
Previously Advocated.
URGENT APPEAL TO PEOPLE
An Effort Will Be Made TO Get Labor
and Capital Together for the
Sake of the Public
Welfare.

washington, IL. u, Specldl' fiesi-
lent Roosevelt's final message to con
gross, advocating strongly the enaction
OF the reforms to which his admins
tration has been devoted, was e in
both houses today. The message In
part, follows:
To the Senate and House OF Repre-
sentatives: The financial standing OF the
nation al the present time Is excellent
and the financial management or the ma
TONS interests by the government during
the last seven years has shown the most
satisfactory results. But our currency
system Is imperfect, and II Is earnestly
TO be hoped that the currency commits
sion will be able to propose a thoroughly
good system which VIII do away with
the existing defects.
During the seven years and three
months there has been a net surplus OF
nearly one hundred millions OF receipts
interest bearing debt by ninety millions.
In spite OF the extraordinary expense of
the Panama canal. and a saving of near
ly nine millions on the annual interest
charge. This is an exceedingly sat.sfac-
tory showing, especially in view of the
fact that during this period the nation
expenditure that 1t regarded as neces-
sary. There have been no new taxes ana
no increases Of taxes; on, the contrary,
some taxes have been taken off there
mas been a reduction OF taxation.
Corporations.
AS TeEdTuS the BfCdt cOTp0TdllOHS en-
gagged In interstate business, and espe-
cially the railroads, / can only repeat
what i 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, and to do justice
to, the great corporations which are the
most important factors In modern bust
ness. / believe that Ii is worse than folly
10 attempt to prohibit all combinations
as is done by the Sherman antitrust
law, because such a law can be enforced
only imperfectly and ~uneQually, and its
enforcement works almost as much hard
instead of an unwise effort TO prohibit
all combinations there shall be sub
stituted a law which shall expressly per-
NIT combinations which are IN the inter
est 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 secur-
ing entire publicity In all matters which
the public has a right 10 know, and fur
thermore, the power. not by judicial but
by executive action. to prevent or put a
stop 60 every form Of improper favoritism
or other wrongdoing.
The Railroads.
The railways of the country should be
put completely under the interstate COM
merce commission and removed from the
domain of the antitrust law. The power
OF The commission should be made thor
oughgoing. SO that IL could exercise com
plete supervision and control over the
issue Of securities as well as over the
raising and lowering OF rates. As regards
rates, at least. this power should be
summary. The power to investigate the
financial operations and count of the
Iva has been one of the most val
naoie features In recent legislation.
Power TIA make combinations an1 traffic
agreements should be explicitly conferred
upon the railroads, the permission of the
commission being first gained and the
combination or agreement being published
In all its details. In the interest of the
public the representatives OF the public
should have complete power to see that
the railroads do their duty by the public,
and as a matter of course this power
should also be exercised SO as to see that
no injustice Is lone to the railroads.
The shareholders. the employees and the
shippers all have interests that must be
guarded. 1t is to the interest OF all OF
them that no swindling stock specula-
ton should be allowed, and that there
should be no improper issuance of Sc
c~urities.
The guiding intelligences necessary for
the successful building and successful
management OF railroads should receive
ample enumeration; but no man should
be allowed to make money In connection
with railroads out OF fraudulent over
capitalization and kindred stock gambling
performances: there must be no defraud-
ing or investors. oppression of the farm
ers and business men who ship freight,
or ~callous disregard OF the rights and
needs OF the employees. In addition to
this. the interests OF the shareholders. of
the employees. and OF the shippers should
all be guarded as against one another.
To give any one OF them undue and i'm
proper consideration Is to do injustice to
the others.
Rates must be made as low as is COM
patibie with giving proper returns 70 all
The cmnlOVe9 of the railroad from the
highest TO the lowest. and proper returns
TO the shareholders: but they must not,
for instance. be reduced in such fashion
the employees or the abolition OF the
proper and legitimate profits OF honest
sha reholders.
Telegraph and telephone companies en-
put under the jurisdiction OF the Inter
state Commerce commission.