The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1908-12-11
.ROOSEVELT'S
LAST MESSAGE
MakeS Annual Recommends
tiOnS to Congress,
ATTACKS ANTITRUST LAW

Would Curb the Trusts, But Says the
Sherman Act Should Be Amended TO
Permit Combinations Which Are In
the Interest Of the Publio-curreney
System Defective.
Washington. Dec. 9-More than or
dinary interest was eyinced In the last
regular message of President Roose-
welt TO congress before his retirement
from Office next March. which was
read simultaneously in the senate and
house
The document. which was temperate
in tone and about 10000 words in
length. reiterated the presidents poll
cies concerning corporations and other
subjects of prime importance. lie made
no mention Of the tariff.
I'm dealing with corporations Presi-
dent Roosevelt expressed the belief
that it was worse than folly TO At
tempt 20 prohibit CON biuations. The
Sherman antitrust act he said work
od almost as much hardship as good
and De strongly advocated the substi-
tuition of law that would expressly
permit combinations which were IN
the interest of the public but would
permit the national government TO cx-
ercise full power of control and super
vision over them.
Publicity ne declared. should be the
chief feature of government control
over corporations and he recommend
ad executive rather than judicial ac-
ten in putting a stop to corporation
evils
Commenting upon the railroads the
president said they should be- removed
entirely from the domain of the anti
trust law and placed completely I'M
ler the interstate commerce commits
sion. lie advocated increasing the pow
ars of this commission so that it could
exercise supervision and control over
the issue of securities as well as over
rates.
The president favored traffic agree
ments between railroad corporations
and said power to make such agree
ments should be explicitly conferred
upon the railroads. with permission
of the interstate commerce commission
and providing the details Of the agree
ments were published I'm full
Summary Ct the Message.
A summary Of the message is as fol-
lows:
FINANcE-"The financial standing
Of The nation at the present time is
excellent. and the financial manage
ment of the nations interests during
the last seven years has shown the
most satisfactory results But our cur
rency system is imperfect and 1t Is
earnestly % be hoped that the cur
rencv commission will be able 20 pro
pose a thoroughly good system which
viii do away with existing defects.
coRPORATIONs-'T believe It is
worse than folly 10 attempt TO pro-
bibit all combinations. as is done by
the Sherman antitrust law. because
such law can be enforced only i'm
perfectly and uncQually and its en-
forcement works almost as much hard
ship as good.
81 strongly advocate that instead OF
an unwise EFFORT 10 prohibit all com
lbinations. there shall be substituted a
law which shall expressly permit
combinations which are in the inter
est of the public. but shall at the same
time give TO some agency OF the ma
luonal government full power Of con
troll and supervision over them.
zone of the chief features Of this
control should be securing entire pub
IHcity in all matters which the public
has a right 10 know. and furthermore
the power. not by judicial but by ex
ecutye action. to prevent OF put a
stop to every form OF improper favor
Iitism or other wrongdoing
"The railways of the country should
lbe nut completely under the inter
letate commerce commission. and re-
moved from the domain Of the anti
trust law Power to make combina
Itions and traffic agreements should be
explicitly conferred upon the railroads
the permission Of the commission be
ing first gained and the combination
or agreement published in all its de
tails.
"The proposal to make the nationa
government supreme over
the railroads and other instruments OF
interstate commerce is merely a pro
posal TO carry out TO the letter one o
line prime purposes. n not the prime
purpose. for which the constitution
was founded.
"The central government IS the only
power which. without oppression, car
thoroughly and adequately control an'
supervise the large corporations.
eve do not object 10 the concentra
ton OF wealth and administrations bu
we do believe in the distribution OF The
wealth I'm profits to the real owners
and I'm securing TO the public the full
benefit of the concentrated administra
tion.
1--WE no more believe IN that en-
plrlcism which demands absolutely un
restrained individuallsm than we do il
chat empiricism which clamors for
deadening socialism which would de
stroy all individual initiative AM
would ruin the country with a CON
pleteness that even unrestrained ina
vidualism could not achieve.
LABOR There must be prohibition
Of child labor, diminution Of wome
labor. shortening Of hours Of all N
chanlcal labor. The national goverl
D. 49, a.aa