Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1914-01-28
THE MESSAGE,
(Fkom the Chicago Tribune

(FEOm the Chicago Tribune. ,t3f
II Unques tionably the most .signifi-
cant thing about the presidents mes
sage is its spirit.
Even. a year ago the president
would not have made an important
public utterance in this spirit, nor
perhaps would the public have been
ready to receive it in such a spir-
it. In the last few months opinion
has rapidly crystallized under the
|sinfluence Of events which in them.
SELVES were a elimination Of forces
at work for more than a decade.
The nations struggles TO over.
throw the power of concentrated
money are pretty we'll ended. The
epoch Of uncontrolled individualfsm
with its excuses of predatory en-.
terprise, is drawing rapidly to
close. The enemy has capitulated
and the task recognized by virtually
all today is the task of consolidating
the popular victory. ,s
This task is the tremendously diff
| ficult one Of constructive and TN re
lstorative Legislation. 1t must be
performed cautiously SO as to pre-
vent the powers which have seemed
/ to surrender creeping back to con
troll 1T must be performed so that
Lit will in reality bring freedom
without sacrifice Of the good thai
has been done by the great energies
and genius of the generation. !,
must avoid a destructive effort e
restore what cannot be restored.
must work in harmony with the
forces Of progress. Il jss4 ~,
To the successful performance Of
l this task the first essential is
spirit Of broad minded considerative
ness. We are building, not fight
| ling. We have learned much in the
militant period now closing, blu,
there are still wide and :importan,
differences of honest opinion as &c
constructive. measures. 5st
The presidents recommendations
follow familiar lines. Legislation.
supplemental to the Sherman Law
rather than an amendment OF tina.
law is pretty generally approved
Senator La Toilette has outlined n
a bill the principal offenses explicit
~ to be held obnoxious. and i
should not be difficult to put this
phase Of regulation into law. The
| administrative commission plan WI
have to be very carefully consider
ed, and more difficult still is the
proposition to restrict individual
stock holdings or the right of the In
dividuaI to vote shares bona tide
held in competitive corporations
The attempt to prevent concentra
ton Of power in this way may
easily result in more ills than 1t can
cure. &>G
The least familiar proposal of the
message is to permit the use in pri-
vate lawsuits of facts and Judgments
proved and entered in government
suits against illega' combinations.
This will probably be enacted, and
should make for desirable eau:
ton and fair play among directors
of capital. IL. II,
AS to the regulation of the stock
and bond issues o. railroads, the.
president ignores the suggestions OF
the Hadley commission and recon-
mends the empowering of the inter-
state commerce commission to per
form this service. But in framing
this, perhaps the most important
single piece of business legislation
to be considered by the next con-
gress, it should be recognized that
unless regulation Of security issues
is efficiently performed its purpose
will be defeated and the situation be
worse than before. Either the COM
merce commission should be en-
larged or its facilities increased in
some manner. .sis &