Middlebury register. (Middlebury, Vt.) 1886-1937, 1908-02-07
FRIDAY, FEBRUARY 7. 1908.
A REMARKABLE MESSAGE.
Quotations from President Roose-
veIt's Message to CONGRESS.

Neit message TO congress
The Washington Post thus sums up
the principal points of this message:
The special message sent to Congress
by President Roosevelt yesterday urges
the enactment of important legislation,
principally relating to labor.
After pointing out defects in the Sher
man antitrust law, the President de-
nounces, in the most vigorous language
at his command, the critics of the ad-
ministration's policy with regard to the
regulation of corporations.
The rich wrongdoer is subjected to the
most terrific arraignment the President
has yet attempted.
The message recommends:
A new employers liability act, to meet
the objections of the United States Su-
preme Court, which declared the present
act unconstitutional.
A law to provide compensation to all
employees injured in the government SER
vice.
A law to provide compensation to all
employees of the government injured in
the work of the Isthmian Canal
A remedy for the abuse of injunctions
in labor cases.
That the Interstate Commerce Com
mission be empowered to pass upon any
rate or practice, on its own initiative,
and be provided with means to make
physical valuation of any railroad.
That railways should be permitted to
form traffic associations, not necessarily
to pool their earnings or their traffic.
That the Sherman antitrust law be
amended.
That gambling in securities and COM
modities" and 'cornering the market be
stopped.
Onquestionably among the most i'm
portant of these is the last, and probably
the most important of all. For it tends to
demoralize all sound business conditions.
And it is full time that this worst kind
of gambling, and infinitely the most dis
astrous in its pernicious results, which
reach in many directions, should be
stopped.
In referring to this subject the Presi,
dent says:
l do not know whether it is possible
but if possible, it is certainly desirable,
that in connection with measures to re.
strain stock watering and overcapitaliza.
ton there should be measures taken to
prevent at least the grosser forms OF
gambling in securities and commodities
such as making large sales of what men
do not possess and ''cornering" the mar.
ket.
Legitimate purchases of commodities
and of stocks and securities for invest.
ment have no connection whatever with
purchases of stock or other securities OF
commodities on margin for speculative
and gambling purposes. There is nc
moral difference between gambling a,
cards, or in lotteries, or on the race
track, and gambling in the stock mar
ket. One method is just as pernicioai
to the body polite as the other in kind
and in degree the evil worked is fal
greater. But it is a far more Difficult,
subject with which to deal.
The great bulk of the business trans
acted on the exchanges is not only
legitimate, but is necessary to the work
ing of our modern industrial system
and extreme care would have to bt
taken not to interfere with this bust
ness in doing away with the "bucket
shop type f operation. We SHOULD
study both the successes and the fail
ures of foreign Legislators who, notabl,
in Germany, have worked along THU
lire, so as not to do anything harmful
Moreover, there is special difficulty il
dealing with this matter by the Fedora
Government in Federal republic lik,
ours. But if it is possible to devise .
way to deal with it the effort should b,
made, even if only in cautious and ten
tatlve way.
1t would seem that the Federal Gov