The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1908-02-06

everlasting tax. while the innocent pI,r-
onasers OF the stock are also harmed and
M W,rongs when once accomplished can with
..is.HHaaaa5,-y ::ss uTidone; but they can be pre-
v Wshed with safety and with justice.
must obtain government sanction: when
u IS no longer possible for an Interstate
f thn to issue stock or bonds. save in
eminent; when that government makes
sure that the proceeds of every stock and
the roperty and not the enrichment Of
some individual or syndicate; when,
whenever 1t becomes material Tor guild
ernment, the physical value of one of
these properties is determined and made
~Ea npwnathere win be eliminated from
certainty which lends to them their spec
ulative quality and which has contributed
past.
think that the federal government
must also assume a certain measure OF
railways in the handling Of Interstate
tra11c. The commission now has author
,ty to establish through routes and joint
enective and in order to promote in times
or necessity the proper movement of traf-
nc 1 lhlnk i must also have authority to
shall be i~nterchanged between different
interstate railways. It is also probable
ity. in particular instances, to determine
the schedule upon which p~erishable COM
moditles shall be moved.
In reference to the Sherman antitrust
law, l repeat the recommendations made
IN my. message at the opening of the
present congress, as well as In my mes
tempt in this law to provide in sweeping
terms against all combinations OF what
ever character, II technically in restraint
OF trade as such restraint has been de-
nned by the courts. must necessarily be
either futile or mischievous, and some
times both. The present Law max some
combinations Illegal, although they may
be useful to the country. On the other
hand as to some huge combinations which
are both noxious and illegal. ever II the
law by the government Is successful, the
result may be to work but q minimum
o enhia to the public. Even though the
measure OF reform thereby produced. the
real good aimed at can not be obtained,
for such rea. good can come only by a
thorough and Continuing supervisor over
the acts of the combination In all its
parts 50 as to prevent stock watering.
short, wrong doing generally. The law
should correct that portion of the Sher-
man act which prohibits all combinations
they be reasonable or unreasonable: but
this should be done only as part of a gem
eral scheme to provide for this effective
national government Of all the operations
of the Dig interstate business concerns.
Campaign Against Privileges.
specifically it may seem that the laws,
the passage of which I herein again ad-
them before-are not connected. But in
reality they are connected. Each and
every one of these laws. If enacted, would
privilege, part Of the campaign to make
the class of great property holders
realize that property has its duties no
guarantee to the employer. as they should.
the rights of the employer. and to prop
erty the rights of property. they should
they will exact from property and from
the employer the duties which should
hf4berio o,,: aei &c %z naNs these these rights: ard
this point OF enforcing. the performance
of duty by the man of property toward
the man who works for him, by the man
OF great wealth, especially if he uses that
wealth IN corporate form, toward the in
yestor, the w-ageworker and the general
public: The permanent failureeof the man
Ultimately assure the wrestling from him Of
the privileges which he is entitled to enjoy
only If he reeognizes the obligations ac-
share the responsibility for this failure are
rendering but a poor service to the cause
which they believe they champion.
l do not know whether it is possible.
but III possible, 1t is certainly desirable.
that in connection with measures to re-
strain stock watering and overcapitaliza-
SASh an SAASaAu pS llItoSu III tS IKE 10
prevent at least the grosser forms of gam
bling in securities and commodities, such
as making large sales of what men do
not possess and t'cornering" the market.
Legitimate purchases of commodities and
of stocks and securities for investment
have no connection whatever with pur-
commodities IN a margin for speculative
and gambling purposes. There is no moral
difference between gambling at cards or
IN lotteries or on the race track and gam
bling In the stock market. One method
IS just as peraicious to the body polite
as the other in kind, and In degree the
far more difficult subject with which to
deal. The great bulk of the business
transacted on the exchanges is not only
ing of our modern industrial system, and
extreme care would have to be taken
not to interfere with this business in doing
alton. 1t would seem that the federal
government could at least act by for
bidding the use of the mails. telegraph
stocks and futures. just as 1t does in
lottery transactions.
Letters Show Trust Methods.
I inclose herewith a statement issued nv
the chief of the bureau of corporations
in answer to certain statements (Which 1
also 1%nclose). made by and on behalf of
the agents of the Standard Oil corporation
and q letter of the attorney general con
tanning 7iinni s an answer ms to certain statements:
Ne~O 49, NSl0SA oI
the Santa Fs Railway company. The
Standard Oil corporation and the
railway company nave both been
found guilty by the courts Of criminal
misconduct; both have been sentenced to
pay heavy fines; and each has issued and
published broadcast these as
sorting their innocence and denouncing as
improper the acton of the courts and
statements are very elaborate. are very
ingenious, and are untruthfuI in important
particulars. Th following letter and in
closure from MIR. Heney sufficiently illus
trate the methods of the high officials
Of the Santa Fe and show the utter fall
s.ty of their plea of Ignorance, the similar
plea Of the Standard OIL being equally
Department Of Justice. Office of the
United States Attorney. District Of Ore
gon. Portland. Jan. Ii. 1sos.-The Presi-
dent. washington. ?. Q M. Presi.
the Atchison. Topeka & Santa Fe railway
system, has commented with some severity
upon your attitude toward the payment
Of rebates by certain transcontinental
railroads and that he has declared that
he personally never knew anything about
any rebates beng granted by his road:
inclose you herewith copy of
a letter from Edward Chambers, general