Evening journal., 1908-12-08

WASHINGTON, D. c., Dec. s.-Presl-
dent Roosevelt's message was read in
Congress at noon to-day. It contains the
annual recommendations of the Execu-
tive to Congress. and also attacks the
Antitrust Law. The President says the
Sherman act regulating corporations and
trusts should be amended to permit com.
binations which are in the interest of the
public. He also urges legislation to safe
guard the wage-workers Of the land He
also expresses his views on the army and
navy. saying the fttest should be given
the preference in promotions. He also
points out the need for protecting forests.
In his message the President says;
The lia--.-i alulC!ls q lhe RS
at the present tine is excellent.
the financial management Of the
TONS interests by the government
ing the last seven years has shown
most satisfactory results. But
currency system Is imperfect. and
is earnestly to be hoped that the G,
rency commission will be able to pi
pose a thoroughly good system VII
will do away with the existing deee,
During the period from July l. Is
to Sept 80. 1908, there has been
surplus Of nearly one hundred wi.i
Of receipts over expenditures, a rec
tion OF the interest bearing debt
ninety millions, in spite of the ext.a.
dinary expense Of the Panama c..
end a saving of nearly nine mills
on the annual interest charge. This
IN exceedingly satisfactory shown
There has been a reduction Of ta1.
ton.
Corporations.
As regards the great corporations Q.
gagged IN interstate business, and espe
cially the railroads. I can only repea
what l have already again and agali
eald IN my messages to the congress
believe that under the interstate
clause Of the constitution the UniteI
States has complete and paramount.
right TO control all agencies Of inter
Etate commerce. and believe that the
national government alone can exer-
else this right with wisdom and ef
fectlveness so as both to secure justice
from and to do justice 10 the great
corporations which are the most i'm
portant factors in modern business.
believe that II Is worse than folly 10
attempt to prohibit all combinations,
as is done by the Sherman antitrust
law, because such a law can be en-
forced only imperfectly and unequal
", and its enforcement works almost
as much hardship as good. 1 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 4 right to know and, further.
more, the power, not by judicial, bu'
by executive. action to prevent or put
stop to every form OF improper n
vorltism or other wrongdoing.
Tho railways Of the country should
be put completely under the interstate
commerce commission and removed
from the domain Of the antitrust lav
The power Of the commission should
be made thoroughgoing. so that it
could exercise complete supervision
and control over the issue of securities
as we'll as over the raising and lower
ing Of rates. AS regards rates. at least
this power should be summary. Pow.
CT 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 sharehold-
ers, Of the employees and Of the ship
pers should all be guarded as against
one another. To give any one Of them
undue and improper consideration is
to do injustice TO the others. Rates
must be made as low as IS compatible
with giving proper returns to 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 neeessitate a cut
in the wages Of the employees or the
abolition Of the proper and legitimate
proats OF honest shareholders.
telegraph ard telephone companies
engaged n interstate business should
be put under the jurisdiction of the in
terstafe commerce commission.
Ample Rewards For InselIisenes.
II is to the interest Of all Of us that
there should be a premium put upon
individual initiative and Individual ca
pacity ard a. ample reward for the
great directing inreIligences alone com
potent to manage the great business
operations Of today. It IS well to keep
in mind that exactly us the anarchist
is the wcrst enemy OF liberty and the