The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-12-08
MESSAGE
Continued from Page One.

Continued from Page One.
on the annual interest charge. This r
an exceedingly satisfactory showing.
There has been a reduction of taxa
tion.
Corporations.
AS regards the great corporations en-
gagged in interstate business, and espe-
cially the railroads, | can only repeat
what have already again and again
said in my messages to the congress.
l believe that under the interstate
clause of the constitution the United
States has complete and paramount
right to control all agencies Of inter
state commerce, and believe that the
national government alone can rxer-
else this right with wisdom and eff
fectlveness so as both to secure Justice
from and to do justice to the great
corporations which are the most i'm.
portant factors In modern business
believe that 1t is worse than folly to
attempt to prohibit all combinations,
as is done by the Sherman antitrust
law, because such law can he en-
forced only imperfectly and unequal
ly, and Its enforcement works almost
as much hardship as good. | strongly
advocate that instead of an unwise
effort to prohibit all combinations there
shall be substituted a law which shall
expressly permit combinations which
are 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 pub.
lie has a right to know aud, further.
more, the power, not by judicial but
by executive action 20 prevent or put
a stop to every form OF improper IA.
vorltism or other wrongdoing
The railways Of the country should
be put completely under the Interstate
commerce commission and removed
from the domain of the antitrust law.
The power of the commission should
he made thorOughgoing, so that It
could exercise complete supervision
and control over the Issue of securities
as well as over the raising ana lower
ing Of rates. As regards rates. at least
this power should be summary. Pow
or To make combinations and traffic
agreements should be explicitly con
ferred upon the railroads. the permis-
sion Of the commission being first
gained and the combination or agree.
ment being published In all its de-
tails. The interests of the sharehUld
ers, Of the employees and Of the ship
pers should all he guarded as against
one another. To give any one Of them
undue and improper considerable is
to do injustice to the others. Rates
must be made as low as Is compatible
with giving proper returns 10 all the
employees of the railroad. from the
highest to the lowest and proper re.
turns to the shareholders. but they
must not. for instance, be reduced in
such fashion as to necessitate cut
in the wages Of the employees or the
abolition of the proper and legitimate
profits Of honest shareholders
Telegraph and telephone companies
engaged in Interstate business should
be put under the jurisdiction of the In
terstate commerce commission.
Ample Rewards Fer intelligence.
II is 70 the interest of all Of US that
there should be a premium put upon
individual initiative and Individual ca.
pacity and an ample reward for the
great directing intelligences alone com
petent to manage the great business
operations of today. II is well 10 keep
I'm mind that exactly as the anarchist
is the worst enemy Of liberty and the
leactionary the worst enemy Of order
- the men who defend the rights OF
property have most 10 fear from the
wrungdOers of great wealth, and the
men who are chanp!Oning popular
rights have most TO fear from the
demugogues who In the name Of pupu
lar rights would do wrong to and OPP
press honest business men, honest men
of wealth, for the Juccess Of either
type of wrOngdoer necessarily invites
a violent reaction against the cause
the wrongdOer nominajig upholds
The opposition Is P-'-ernment con.
troll OF these great - 'Shons makes