The Barre daily times. (Barre, Vt.) 1897-1959, 1912-03-28
Declared Theodore Roosevelt in
Ui,ICaoU huuiooS
WOULD % full JUSTICE
Democratic Members of Ways and Means
Committee Submitted a Report to
Congress as Prepared by UAaIl-
m~A UAueIwU0d.

Chicago, March 2S.-"Big business
ana tne contfoi OF corporations We're
discussed ny Col, hooseiei Ell III a speech
which he delivered here last nIgnJ. lie
sald LhaJ the government llusl prose.
| cations III the oiI ana tobacco cases htt1
accomplished nothing oI reai worth
"UuI present polcy OF chaos cannot
permanently continue, SAID COZ. hoose
Welt. lie asserted mat there shoaid be
absolute cleuruess OF Jaw, ana spoke
IN favor OF "a competent administrative
body, an interstate Industrial commis-
would do Tor the world OF industrial
production what the interstate commerce
COMMISSION Is DONG Tor the woria Oh IN
dustrlal transportation.
Col. Roosevelt Speech follows;
In my speech aC Columbus, tried
to develop Two main lines OF thought,
nrst, that the people have the right to
rule, and that through the exercise ot
this right We must oDtain social and in
dustrIal justice, and, second, that our
aim must be TO control businessmen
to strangle it.
Il want to do full justice to the big
business man, but l also want to 10
full justice to the small business man,
and the middle-sized business man. Ii
should be the policy Of the government
clearly to define and punish wrong -do.
ing, to give in advance full information
to every man just what he can and what
he cannot legally do But with the big
business man there is need for especial
precautions which are unnecessary as re-
CARDS the small business man. The peo-
pie OF this country are not afraid OF
the mere size of business enterprise
provided it is honestly organized and
honestly managed. But they feel that
such size carries with it a potentiality
OF wrongdoing that makes 1t necessary
that the nation and, if necessary, the
states, shall exercise over big business
control and supervision which are I'M
necessary as regards small business. 1t !
is OF the utmost consequence that we
shall get permanent business prosperity,
and it can only be permanent if it is on
a safe basis, and it can only be on a safe
basis If there is effective governmental |
control of big business, including the |
issue and the sale of stocks and bonds |
so as to prevent all such evils as over.
and the fragrant abuse OF /
power by exploiting the business inter
ests Of the people for the personal gain
OF the few.
Remember that water in stocks
means unjust taxation Of innocent PEG
pie in order to get dividends call I
this unjust taxation; it could be called |
by much harsher name. did | not
wish to speak moderately; for this un.
just taxation, this extoTtion, is prae-
ticed at the expense alike of innocent /
stockholders and of the great outside I
public of consumers 1t is hard to over.
estimate the widely ramifying damage
OF this, as of all other kinds, OF business
corruption.
Now / am not speaking as matter
of theory. | am speaking in view OF
what has actually happened in connec-
ton with the utter failure of the suits /
against the tobacco trust and the Stand.
ard Oil trust to accomplish result of
real worth. 1t is not my purpose at
this time to discuss the action of the
government in acquiescing in that deer
sion in its final FORM or to try to appor-
lion the responsibility for this utter
failure. The net result has been that
he tobacco trust and the STANDARD Oil
trust materially increased the value of
their stocks, and that there has been no
iiminution of their power to control
markets.
According to the press reports, the
market price of Standard Oil Stock has
increased over two hundred millions Of
dollars from the time of the supreme
courts decision, and the price of oil has
gone up during the same period In Wall
street | am informed that the only diff
ference noticeable is that Spectators
who used to receive from their brokers
single bit Of paper representing owner
hip of oil stock, now receive an envelope
twenty or thirty bits of paper
representing nominally different certif-
ates of nominally different companies.
'1n my messages to Congress. and in
NY speeches while president | again ,
md again pointed out that the anti
rust law by itself. and without such
additional legislation as | then outlined !