Omaha daily bee., 1911-09-29
MOST IMPORTANT OF TRIP
Skeohes Effect Of Recent Legislation
to Control Commerce.
PROTESTS AGAINST PREJUDICE
Makes Request SectiOnaliSm Be No
Longer Allowed.
COURT DECISION EXPLAINED
Politicians Denouneed who seek 60
Advance own Interests by Array
ing one Part of cOuntry
Against Another.


WATERLOO. Ia. SEPT S-Presidsnt
Taft IN what Is expected 70 prove tne
most important speech Of his trip. made
an appeal here today for reasonable
treatment Of the railroads and Industrial
interests OF the country and protest
against blind sectional prejudice"
He denounced those politicians who seek
to advance their own interests BY array
ing the people OF one section against
those Of another.
Tt as time 70 half SAID the president.
We are all In the same boat all tossed
BY the same waves. The property of
one section is dependent on the prosperity
OF the other"
President Tan had for his topic At
Waterloo Relation Of Governhnsnt TO
the Business Of the Country" He pointed
out In opening the four most important
points Al which the policies OF the con-
gress and the executive touch the busi-
ness Of the country in such a vital way
that the people are entitled to have the
greatest care. industry and application
eharactertse governmental action in re-
Epect to them These are the regulations
Of interstate commerce, regulation Of IL
legal combinations in restraint Of trade.
currency system
Recent Laws Outlined
He sketched the effect Of recent legis-
lation intended to regulate and control
Interstate commerce through the commits
sion. and of his efforts TO secure further
amendments 20 the law, designed TO make
it stu more effective, and said.
Il think IL is now generally conceded
BY those who understand the operation
of The present law that the regulatiVe
power OF the Interstate Commerce coun-
mission is sufficiently great TO remedy
generally the injusuces 20 shippers which
gave rise TO the demand for legislation
Except the introduction Of a limitation
as TO the power Of issuing stocks and
bonds, DO not think it wise to add TO
the present statutes.
Occasionally one hears the complaint
that there is no room for enterprise
among railroads.. that there is no induce
uaert tC further investment and exten-
sion Of their lines; that somebody else Is
running the railroads for them; and that
ali hope Of prosperous business in trans
portation has disappeared think this
attitude Is as unreasonable on the one
hand as that OF spite against railroad
because Il Is a railrod Is on the other
we all have TO face the condition that the
public insists. and has a right to insist.
upon the close regulation Of railroads In
view Of past evils and of the danger
of their recurrence in the future II vigi-
lance is ahated. and that nothing but
such regulation will secure the eomph-
anoe with the law that the public in
sasts on having. Then regulation Is not
restrictive OF wide discretion in railroad
management and there is and ought 70
be sufficient scope for enterprise. for
close economies In the business OF the
common carrier. and for the securing Of
. reasonable profit for the shareholders.
TO make the railroad business as great
a field as ever for business genius. AL
reforms have not heen secured IN railroad
management This takes time Many
rates are stll unreasonable or discrimi-
mating; but the point l am making isNAhat
We now have effective and impartial ma
ohins-y in the present organization and
power OF the commission for effecttng
those reforms without additional restrict
i've legislation
Opportunity Tor Competition.
Il have elsewhere given my view of
what the decision of the supreme court
Is. Ths court declines 10 hold that com
petition is impossible under modern bust-
ness condition. but It insists that II must
De given full opportunity for operation.
ana that any combined effort affecting
intsrstate trade looking 70 its suppression
10 contrary TO law. In other words. ousa-
ness must face the necessity Of throwing
away the crutch Of combination against
composition in its further progress. Whea
this rule is recognized, when the corpora
tons that have offended the law are dis
tntsGra1sd sufficiently 70 enable compsti-
ton 70 have fun play, then thsrs Il no
reason why business should not 50 on
unhAmpered
Criticism has been uttered IN ~
measured tone against the activity Of
the Department Of Justice in the institu-
ton OF prosecution and bills OF equity
under the antitrust law, on the ground
that il is hurting business II is the
sworn duty q the executive 70 enforce
the Law, and as long as such combina-
lions exist and are known 70 exist 20 the
law officers OF the government In aly
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