The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-01-20
FIRST MESSAGE READ
BY THE PRESIDENT
tCon,inusd from page l.,

8 best informed men OF the bushes.
world condemn the methods and pro
cesses and consequences OF monopoly
IS we condemn them; and tie instinc
tive judgment of the vast majority o.
business men everywhere goes witt
them. We shall now be their spokes
men. That is the strength of anu
sure prophecy OF what will ensue
when our reasonable work Is done.
When contests end, when men
unite in opinion and purpose. those
who are to change their ways Of bust
ness joining with those who ask for
the change, 1t is possible to effect il
in the way In which prudent and
thoughtful and patriotic men would
wish to see 1t brought about with as
few, as slight, as easy and simple
business readjustments as possible in
the circumstances, nothing essential
disturbed. nothing torn up by the
roots. no part rent asunder which
can be left In wholesome combination.
Fortunately no measures of sweeping
Dr. novel change are necessary. 1t will
be understood that our object Is not to
nnsettle business or any where seri-
pusly to break its established courses
athwart. On the contrary. we desire
the laws we are now about to pass to
be the bulwarks and safeguards Of In
dustry against the errors that have
disturbed 1t. What We have to do
can be done In a new spirit, In
thoughtful moderation. without revo-
luton OF any untoward kind
We are all agreed that private
monopoly is indefensibde an4 intoler-
able and our program is founded upon
that conviction. 1t will be compre-
hensive but not radical or unaccept-
able program and these are Its items,
the changes which opinion deliberate
" sanctions and for which business
waits:
1T waits with aoouiesoence in the
frst place. for laws which will eftectu-
ally prohibit and prevent such Inter
bookings of the personnel Of the di-
rectorates OF great corporations
banks and railroads, industrial COM
mercial and public service bodies as
In effect result in making those who
borroB and those who lend practical
~ one and the same, those who sell
and those who buy. but the same per-
sons trading with one another under
different names and In different com
binations; and those who effect to
compete, In fact partners and masters
.rsf al
Sufficient time should be allowed,
more over, in which to effect these
changes Of organization without In
convenience or confusion Such
prohibition viii work much more than
a mere negative good by correcting
the serious evils which have arisen
because for example the men who
have been the directing spirits of the
great investment banks, have usurped
the place which belongs to independ-
snt Industrial management, working
in its own behalf 1t wiz bring new
men, new energies, new spirit OF In
ittatfve; new blood into the manage
ment OF our great business enter
prises. Il will open the field of in
dustrial development and organization
of scores OF men who hare been obiig-
ed TO serve when their abilities en-
titled them TO direct. It will i'm
Intensely hearten the young men coming
On and viii greatly enrich the business
nctiFities Of the whole country.
In the second place, business nan
Rs we'll as those who direct pubic
affairs now recognize, and recognize
with painful clearn SIS, the great harm
and injustice which has been done to
many, If not ali, Of the great railroad
systems Of the country by the way In
which they have been financed and
their own distinctive interests subor.
dinated to the interests OF men who
financed them and OF other business
enterprises which those men wished
TO promote The country is ready,
therefore, to accept, and accept with
relief as well as approval, a law
which will confer upon the Interstate
commerce commission the power TO
superintsnd and regulate the financial
operations by which the railroads are
henceforth to be supplied with the
money they need for their proper de-
velopmsnt to meet the rapidly grow
ing requirements of the country for
increased and improved facilities OF
transportation. We cannot POSTPONE
action in this matter without leaving
the railroads exposed to many serious
handicaps and hazards; and the pros
perfty OF railroads and the prosperity
OF the country are inseperably con
nected. Upon this question those who
are chiefly responsible for the actual