New-York tribune., 1908-03-15
GOVERNMENTAL REGULATION.
Or Woodrow Wilson Sees No Difference Be
tween I and Government Ownership.

-rz-zso March fz-D-. Woodrow Wilson, presi-
cent RI Princeton University, tonight was the
chief speaker ~ = banquet given by the CONNER
..sI Tiub 81 Chicago. The banquet hall was COM
t---ablv leL- President Wilson said in Part:
passion for reEuIa-ive legislation seems TO have
came upon u 50 sIdden1y. 20 much more like an
-HlT Use gt lulpatlence jLan like deliberate pur-
pose that there is every indication that the care
81 thinking upon which Il should nave 2een tolIlp-
5 VII succeed IT after i has spent is force T7!h-
ef --aa accouPaly and give form and direction
wast IL --e matter with the business Of the
eoI-r-r2 Tle abuses complained Of are. N fact.
' his L Ilo-.--cIo . ~ 80 81 % "a %m tt, 80 blr5s
a. great corporations which are virtually inonopo-
fes- --- NJ 6v methods u competition funda-
lz--srr-- -l-ac--s a~j 7,rfai- and have been
maintained Ev methods as arbitrary and as con
ne, 7a-e ,rsaras rms is one class OF buses.
A-0--e- class. perhaps more far-resschiug ID It's
Effects. j. which is connected with the nlanip-
u.s-io0 of securities and The U.s. OF trust funds,
NLat ~euedes have been attempted We ha' .
p7ssr1 laws +o-hiddlng such combinations anu
such pr=crlCes would virtually constitute 1non9I
eler and have attempted 10 .ntorce 'aeIl. y .
5aTe forbidden Discrimination ~ +relsht rates ~
pur-l them. We have gone further and tried =
Ea-r have gone further sun alo till-z -; -! - 80
prescribe passenger rates IS vel. underlahln5 10
r-d- commissions what rates II Is equitable ior
r-eu rr charge. We have undertaken 10 look inside
determine rle character Of their investments ana
7arr--zs ANA r-er,I,,rsr- tlsair securities have
-o- fe- --~sa-raIzer TO restrain or punish by any
IA. -t=.s+ strikes US mos; about ali the reeula-
non and ra--ed.sl measures adopted i that they
nc -1--- ---o-, v-l4a- iz for as an entirely new
oa-0rI-c- ~ the province alike OF a y and 81 Eo
'-l-nsrr our law has hitherto desit Win mo-
Vl1-1ls. with specific transactions; II no" lnoeI
1a-es ~ 6eeI directly wi-h business Itself, not
-~ul. fines = exact definition such - courts "t
lzr could All ur-ou but with wide range Of dis
100. "ticn nll!SL L M nil-ll5fcfsi ,~ir,rsIs
7 r-r ZEE no radical difference in principle be
1az.-s-ror - F5s 5isc~etionaTy kind. Advocates
- earerrrslentsl regulation talk u II g. a ntc n
reform ri, it seems to me be itself social
30 " Fnee Though , II ,ossTd s9gS 4i 3Fe eatrance
- government into the general field OF economic
Enterprise Whether government shall 90 fur
ta-r becomes - mere question of convenience OF
ezre5.e1.eE and ceases 20 be a question OF prIl-
,irie Heaularran hy commission is not TeguLs- 9-
'ior hy isv- but control according 10 the o'Scie
'.- ~ zoFeElulental officials , -+ ,,o
rre-ked. not bv futile and blunderinE attempts
- tate 70 each cofp"Tall3h } i-1n 80 .44riaIe
'tr=r.i. Co. book VINO are responsible for FORBID
oen OF Questionable transactions Int cofp"Ia-
tsn tssd never falls TO mo me Te@i5 i5zi5}ye
80 oflcial IN Us own pTooe.5e ., bi;c yroe
f0ator the names OF tle men who should De pro-
THIS oid-fashioned process Ct seeking the in
o.Ei1lsl aud Furnishing him is much more difh-
oUlt than the rough and ready process Of dealing
VIII the corporation a Whole, lL1nP ~ eiia
haTres-irg IL business transactions, Gripping II
t3e only process which VIII in the long effect
olt purpose without putting at fatal niaan-
laltaee IN tie whole industrial development or
tle modern world
'eEelnment commissions cannot possibly under
ilzno business better than those who conduct u
Their reauIarfve interference with business VIII
t-.y ~s--rie-e the confusion and eulbarrassnents
a.io Nk3ck RAPIDLY stumbling The old
ifoo.sses - law are the more difficult. but the
laofe eNf-es5Te We must discover just what
Transitions We wish 10 put end TO. must de
- means Of discriminating anG reactlng the ln
lc-als VINO really responsible for them. ana
sest fa..isE those individuals without respec; ee
Persons OF correcuences. We must have once
Fore ire reign of law rather than the reign of
k'-erIIentai officials