Bisbee daily review., 1908-02-01

In this connection, l desire to re- | peat my recommendation that rail | roads be permitted to form traffic as- sociations for the purpose of con ferring about and agreeing upon Faces. and practices affecting in- terstate business in which the mem bers of the association are mutually interested. This does not mean that they should be given the right to pool their earnings, or their traffic. The law requires that rates shall be so adjusted as not to discriminate be- tween individuals, localities or diff ferent species of traffic. Ordinarily. rates by all competing lines must be the same. As applied to practical conditions. the railway operations of this country cannot be conducted ac- cording to law without what is equiv alent to conference and agreement The articles under which associaiiuns operate should be approved by the commission: all their operations should be open to public inspection; and the rates, regulations and prac- tices upon which they agree should be subject to disapproyal by the com mission.
 l urge this last provision with the same earnestness that I do the others. This country provides it's railroad facilities by private capital. These facilities will not be adequate unless the capital employed is assured of just treatment and an adequate re- turn. In Fixing the charges of our railroads, l believe, that it is to the public interest alone, it is better to be too liberal than too scanty. for otherwise there is grave danger that our railroad development may not keep pace with the demand for trans portation. But the fundamental idea that these railroads are public nigh. ways must be recognized and they must be open to the whole pubic upon equal terms and reasonable terms.
 In reference to the Sherman anti. trust law, l repeat the recommends tions made in my message at the opening of the present congress. as well as in my message tasthe previous congress. The attempt fn this law to provide in sweeping terms against all combinations of whatever char acter, is technically in restraint of trade as such restraint has been de. lined by the courts, must necessarily be either futile or mischieYous and sometimes both. The present law makes some combinations illegal. al. though they may be useful to the country.
 On the other hand, as to some huge combinations which are both noxious and illegal, even fl the action under taken against them under the law by the government is successful. the re. suit may be to work but a minimum benefit to the public. EHn though the combination be broken up and small measure of reform thereby pro- duced, the real good aimed at can not be obtained, for such real good can come only by a thorough and con tinuing supervision over the acts of the combination in all it's parts, so as to prevent stock watering. improp- CT forms of competition, and in short wrong doing generally.
 The law should correct that portion of the Sherman act which prohibits all combinations of the character
 above described, whether they be req. sonable or unreasonable; but this
 should be done only as part Of a gen. eral scheme to provide for this effec-
 tive and thoroughgoing supervision
 by the national government of all the operations of the big interstate busi- ness concerns.
 Judge Hough, of New York. in his recent decision in the Hartman case states that the congress possesses the power to limit the interstate opera. tions of corporations not complying with federal safeguards against the recurrence of obnoxious practices and to license those which afford the methods calculated to diminish soIvsn 1 cy, and therefore efficiency and ecll
 omy in interstate transportation. The i judge adds that in matters ''the power 1 of congress is ample though as yet | not fruitful in results It is very l earnestly to be desired that either
 along the lines the judge indicates or in some other what equally effica | cious, the congress may have the ] power it possesses. Superfcially il may seem that the laws, the passage l of which again advoeate-for l have repeatedly advocated them before are not connected but in reality they
 are connected. Each and every ont 1 of these laws fl enacted, will repre- sent part of the campaign against 1 privilege, part of the campaign tt
 make the class of great property hold CTS realize property has it's duties nc less than it's rights. When the court l guarantee to the employer, as the!
 should, the rights of the employer and to property the rights of prop erty, they should no less empiaticaIl!
 make it evident that they will exac from property and from employer thu duties which should necessarily ac l company teshe rights; and hitherto
 our laws have failed in precisely il tish point of enforcing the perform ance of dGty by the man of propert, | toward the man who works for aim by the man of great wealth, especial! if he uses that wealth in corporat' firm toward the investor, the wag'
 worker, and the general public.
 The permanent failure of the maI ! of proptrey to fulfill his obligations would ultimately assure the wrestling | from hi m of the privileges which n
 is entitled to enjoy only if he recog
 mixes the obligations accompanying them. Those who assume or shart the responsibility for this failure ari
 rendering but as poor service to tn,
 country which they believe they cham 1 pion.
 I do not know whether it is pos
 sible, but if possible, it is certainl! desirable that in connection vitl
 measures to restrain stock watering
 and over capitalizing there should b,
 measures taken to prevent at leas
 the grosser forms of gambling in SC
 curities and commodities such al making large sales of what men d not possess and "cornering" tA. market. Legitimate purchases o
 commodities and of stocks for invest