Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1908-12-12
Bs~zs spssy4sA
R ROO
LAST MESSAGE
Makes Annual Recommended
tIOlS 10 Congress.
ATTACKS ANTITRUST LAW

~'~ N~iD ~'t9 feeNof 1AN Gays III"
Sherman Act Should Be Amended TO
Permit Combinations Which Are IN
the Interest Of the Publie-currency
System Defective.
Washington. Dec. s.-More than or
binary interest was evinced 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. He made
no mention of the tariff.
Iu dealing with corporations. Presi-
dent Roosevelt expressed the belief
that &c was worse than folly to at
tempt 60 prohibit combinations. The
Sherman antitrust act. he said. work.
ca almost as much hardship as good
and he stroncly advocated the suhsti-
tuition of O. law that would expressly
permit combinations which were IN
the interest OF tho public but wouli
permit The national government 10 exc
crciee Fun power of control and super
vision over them.
Publicity he declared. should be the
chief feature OF government control
over corp, atoms and ne recommend
cd executive rather than judicial &C
ton I'm putting a stop 20 corporation
evils.
Commentiug upon the railroads. the
president said they should Dee removed
entirely from the domain of the anti
trus, law and placed completely un-
der the interstate commerce commits
sion. Tie advocated increasing the pow
ers 0f This commission SO that 30 could
exercise supervision and control over
Che issue of securities as well as over
rates
The president favored traffic agree
mcnts between railroad corporations
and said power Co mako such agree
mcnts should be explicitly conferred
upon Che railroads with permission
OF The interstate commerce commission
and providing the details of the agree
mcnts were published in full
Summary Of the Message.
A summary OF the message IS as fol-
lows.
FlNANCE-"The financial standing
OF che nation az 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
roncy system IS imperfect. and Il Is
earnestly 10 Dee hoped that the cur
roncy commission will be able 20 pro
pose a thoroughly good system which
Will do away with existing deracts.
CORPORATlONS-T believe IL IS
worse than folly 70 attempt to pro-
hibit an combinations, as is done by
the Sherman antitrust law. because
such a law can be enforced only i'm
perfectly and unequally. and its en-
forcoment works almost as much hard
ship as good
81 strongly advocate that instead Of
an unwise effort 90 prohibit NIL com
binations 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 20 some agency OF the ma
uonal government fun power Of con
troll and supervision over them.
zone Of the chief features OF this
control should be securing entire pub
icity in all matters which TIE public
has right TO know, and Furthermore.
the power, not by judicial but By ex-
ecutive action. to prevent OF put
stop 10 every form OF improper favor
itism OF other wrongdoing
The railways OF the country should
be put completely under the inter
state commerce commission and re
moved from the domain OF the anti
trust law. Power TO make combina-
lions and trafnc agreements should he
explicitly conferred upon the railroads.
the permission or the commission be-
Ing first gained and the combination
or agreement published in all its de-
tails
"The proposal to make the national
government supreme over
the railroads and other instruments OF
Interstate commerce is merely a pro
pOsal to carry out to the letter one of
the prime purposes. If not the prime
purpose, for which the constitution
was founded.
THE central government is the only
power which without oppression. can
thoroughly and adequately control and
supervise the large corporations.
I'VE do not object TO the concentra-
ton OF wealth and administration; but
we do believe in the distribution OF the
wealth In profits to the real owners,
and in securing 10 the public the full
benefit Of the concentrated administra-
ton.
We no more believe in that en-
piricism which demands absolutely un-
restrained indvidualism than we do in
that empiricism which clamors for
deadening socialism which would de-
stroy all individual initiative and
would ruin the country with a com
pleteness that even unrestrained indi-
Viduaiism could not achieve.
LA5oR-"Thsre must be prohibition
OF child labor, diminution Of women
labor. shortening OF hours of all me-