Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1908-12-08
RESIDENTS
MESSAGE.
|ne of Greatest State Papers
Issued by Any President

Washington, Dec. SIN his message
congress, read to the two houses,
president said:
rbe financial standing Of the nation
the present time is excellent, and
financial management of the ma
ms interests by the government dur
the last seven years has shown the
ost satisfactory results. But our
rrency system is imperfect, and it
earnestly to be hoped that the cur
new commission will be able to pro-
ne thoroughly good system which
IN do away with the existing defects.
During the period from July /, 1901,
Sept 80, 1908, there has been net
rplus of nearly one hundred millions
receipts over expenditures, a reduc-
bn of the interest bearing debt by
nety millions, in spite Of the extraor-
nary expense of the Panama canal
ID a saving Of nearly nine millions
the annual interest charge. This Is
4 exceedingly satisfactory showing.
here has been a reduction Of taxa
|On
Corporations.
As regards the great corporations.en-
sged in interstate business, and espe-
'ally the railroads, can only repeat
hat have already again and again
lid in my messages to the congress.
believe that under the interstate
ause Of the constitution the United
tates has complete and paramount
ght to control all agencies Of inter-
Eate commerce, and believe that the
ationa government alone can exer-
Ise this right with wisdom and ef-
ectiveness so as both to secure justice
rom and to do justice to the great
operations which are the most Inn
Ortant factors In modern business. /
elieve that 1t Is worse than folly to
tempt to prohibit all combinations,
is done by the Sherman antitrust
Nv, because such a law can be en-
breed only imperfectly and unequal
/, and its enforcement works almost
J much hardship as good. l strongly
dyocate that instead Of an unwise
Tort to prohibit all combinations there
hall be substituted a law which shall
Epressly permit combinations which
re in the interest OF the public, but
hall at the same time give to some
gency Of the national government full
over of control and supervision over
lem. One Of the chief features Of
lis control should be securing entire
dbllcity in all matters which the pub
c has right to know and, further
lore, the power, not by judicial, but
executive, action to prevent or put
stop to every form of improper ia
orltism or other wrongdoing.
The railways of the country should
E put completely under the interstate
commission and removed
ON the domain of the antitrust law.
he power of the commission should
made thoroughgoing, so that 1t
'uld exercise complete supervision
I'd control over the issue of securities
well as over the raising and lower
g OF rates. AS regards rates, at least
lis power should be summary. Pow.
TO make combinations and traffic
sreements should be explicitly con-
fred upon the railroads, the permits
on Of the commission being first
aimed and the combination or agree
tent being published in all its de-
us The interests of the sharehold-
= or the employees and of the ship
ers should all be guarded as against
ne another. To give any one of them
nuue and improper consideration is
DO injustice to the others. Rates
Iust be made as low as is compatible
iuh giving proper returns to all the
hpioyees of the railroad, from the
IsneSt to the lowest, and proper re
rhs 10 the shareholders, but they
Iust not, for instance, be reduced in
icl fashion as to necessitate a cut
the wages of the employees or the
DOiltion Of the proper and legitimate
,ons Of honest shareholders.
Telegraph and telephone companies
leaged in interstate business should
pu' under the Jurisdiction OF the in
fstate commerce commission.
ample Rewards For lnteIIissnes.
II Is 10 the interest of all Of us that
iste should be a premium put upon
lul'ioual initiative and individual ca
le'ty aud an ample reward for the
ledt directing intelligences alone COM
e'el' to manage the great business
pe'a lions Of today. II is well to keep
llihu that exactly as the anarchist
Tue worst enemy of liberty and the
.aeuonaFy the worst enemy of order
. me men who defend the rights Of
'0lefly have most TO fear from the
.o''edoers Of great wealth. and the
- who are championing popular
sn'S have most to fear from the
s'aa gogues who In the name of popu-
Z nights would do wrong to and op-
- honest business men, honest mel;
wealth. for the success Of either
" u Wront7doer necessarily invites