El Paso herald. (El Paso, Tex.) 1901-1931, 1910-08-31
ROOsFvE|T TALKS STRAIGHT FROM THE
SHOULDER To CROOKED CORPORATIONS
Continued From Page One.)

rates; but it is needed as the basis of
honest government
I'VE have come to recognize that
franchises should never be granted ex-
cept for a limited time, and never with
out proper provision for compensation
TO the public. 1t is my personal belief
that the same kind and degree of con-
troll and supervision which should be
exercised over public service corpora
items should be extended also to cOmbi-
nations which control necessaries of
life, such meat, oil and coal, or
which deal In them on important
scale.
81 believe that the Officers, aud es-
peciaIIy the directors, of corporations,
should be held personally responsible
when any corporation breaks the law.
Control the Combines.
combinations in industry are the re-
suit of an imperative economic law
which cannot be repealed by political
legislation. The effort at prohibiting
all combinations has substantially fail
ed. The way out lies not in attempt
ing to prevent such combinations, but
in completely controlling them in the
interest of the public welfare. For that
purpose the federal bureau of corpora
tions is an agency Of the first impor-
lance. Its power and therefore it's eff
ficiency, as we'll as that of the inter-
state commerce commission, should be
largely increased. We have a right TO
expect from the bureau of corporations
and from the interstate commerce COM
mission a very high grade of public
service. w <hOJlr - aS sure Of TIE
proper conduct Of Or interstate rail-
ways and The proper management CT
interstate business as we are now sure
of the conduct and management of the
national banks. The Hepburn act and the
amendment to that act in the shape in
which it finally passed congress at the
last session, represent a long step in
advance; and we must go yet further.
Tariff Must Be Revised.
There is a widespread belief among
our people that, under the methods Of
making tariffs which have hitherto OBJ
tanned the special interests are tco in
the big interests and the little. inter-
eSts. These methods have put pre-
MUM on selfishnesS, and naturally the
selfish big Interests have got more
than the selfish small interests. Tie
duty of congress IS to pcovide a meth
Cd by which the interest of the v hole
people shall be all that receives con-
sideration. To this end there must be
an expert tariff commission, wholly re-
moved from the possibility of political
pressure or of improper business influ-
ence. Such commission can find out
the real difference between cost of
production. which is mainly the differ
ence OF labor cost here and abroad. AS
fast as its recommendations are made,
believe in revising one schedule at
a time. A general revision of the tariff
almost inevitably leads to log-rolling.
and the subordination of the general
public interest to local and special in
tereStS.
The absences of effective state, and
especially national. restraint upon I'M
fair money getting has tended to create
small class of enormously wealthy
and economically powerful man, whose
their power The prime need is TO
change the conditions which enable
these men to accumulate power which
is not for the general welfare that
they should hold or exercise. We grudge
no man a fortune which represents his
own power and sagacity, when exercised
with entire regard to the welfare of
his fellows. But the fortune must be
honOrably obtained and well used.
NO man should receive n dollar I'M
less that dollar has been fairly earned.
Every dollar received should represent
a dollars worth of service rendered
The really big fortune, the swollen for
tune, by the mere fnct of its size. nc
quires qualities which differentiate 1T in
kind as well as in degree from what Is
possessed by men of relatively, small
| means. Therefore, / believe In n grad
uated income tax big fortunes, and
in another tax which is far more easily
collected and far more effective
graduated inheritance tax big for-
tunes, property safeguarded ~ ainst
evasion, and increasing ro.sidly in
amount with the->sze~sfs the>estate.
The people of the United States SUI
fer from periodical financial panics to
! a degree substantially unknown among
/ the other nations which approach us in
| financial strength. There is no reason
we should suffer what they escape. It
| is of profound Importance that our
! financial system should promptly be
| Investigated. and so thoroughly and
| effectively revised as to make it certain
thai hereafter our currency will no