Eugene weekly guard., December 10, 1908, Page 3, Image 3

THi BiMur, dbwrir k . i«*
UST ANNUAL MESSAGE
OF PRESIDENT ROOSEVELT
-
m C-’
COP'rPlôHT, 190»
BY PACK tíhas.M.V
THEODORE
ROOSEVELT.
Washington; D. C., Dec. V—Fol­
lowing is the text of President Roose­
velt’s last annual message to con­
gress. read in both houses today:
To the Senate and House of R»*present-
atives:
The financial standing of the nation
at the present time is excellent, and
the financial management of the na­
tion’s Interests by th»' government dur­
ing the last seven years has shown the
most satisfactory results. But our cur­
rency system is imperfect, and it is ear­
nestly to be hoped that the Currency
Commission will be able to propose a
thoroughly good system which will do
awav with the existing defects.
During the period from July 1 .1901.
to
_ September
______ ____
20. ______
1908. ______
there ____________
was an in-
creas« In the amount of money in cir-
culado<i of >991.9
91,»9 *_
......
t-“-.The
Increase
per capita during this period was >7.06.
Within thiB time there were several oc­
casions when it was necessary for the
Treasury Department to come to th»»
aid of the money market by purchases
or redemptions of United States bonds,
by increasing deposits
in
National
banks, by stimulating additional Issues
of National bank notes, and by facili­
tating importations from abroad of
Our imperfect currency sj
has made these proceedings necessary,
»nd they were effective until the mon­
etary disturbance of 1907 immensely
increased the difficulty of ordinary
methods of relief.
By the middle of
November the available working bal­
ance in the treasury had been reduced
to approximately >5,000.000.
Clearing
associations throughout
the
house
country had been obliged to resort to
the expediency of issuing clearing
house certificates, to be used as money.
In this emergency it was determined to
invite subscriptions for >50,000,000 of
Panama canal bonds, and >100.000.000
three per cent certificates of indebted­
ness authorized by the act of June 13,
rarfun>AT. dm - hmrir k i
nouid have complete pow-
whether from ignorance
to sacrifice his country
a« a matter of tlons
persuades
well
wrong. < aded no »' to ’ ry
Ihstrur* •nts upon which
rest«. Let *4>h K
lue «hlppoia al. b«w arc o( tnd guard its«
1st be guarded ^hortCf’iiii
to which that
»11 of them that »♦•If moat
le Too oft, n
cutation should bust lit
(
nun tty in a sj
r sb« uld be no healthy ci
consciousness
securities
The effort to 1
to account un
cessary for the the wealtl
successful man- nient of great corporation«, whether
should receive railroad*, street railways, or other in-
but no man should dustriai enterprises, have behaved in a
* »op. y in *nne« ti»m wa> that revolt« the conscience of the
*f fraudulent over­ plain, decent people. Such an attitude
bid red stock-gamb- cannot be condemned too severely, tor
lere must be no de- men of property should recognise that
■«. oppr. salon * of the they jeopardise the right« of property
ess men who ship when they fail heartily to join tn the
i disregard o f the effort to do away with tie abuses of
f the employes
In wealth On the other hand, those who
he interest^ of the advocate proper control on behalf of the
m employes and I of public, through the state, of ti es« great
did all be guarded I as •. urpoi ations. and of the wealth eii*
i>. ite», th
her
To give anj on**
•
t^aged in a giant scale in business oper­
tweer.
rdinarv re
id improper conside »ra­ ations, mufet ever keep in mind that un-
iJustlc«1 te
*
the others, less they do Hcrupuiuus justiv«' to the
as l«>w as Is com- corporation, uni« ss the) permit ample
proper returns to tirufil.and cordially «ncourugv men of
he railroad .from msinsss mo long as thej act with hon­
west, and proper esty. they are .striking at the root of
iring th,
holders: but they our national well-being., for In the
i instance, be reduced in lol!., r..: . und < i <■ me!
pt'OUie vf
as to t ecessltate a cut in material distress, th*' people as a whole
exp. nditui
the employes *»r the abol- would piebaldy go back to the reign of
t-bearing
roper and legitimate nrof- an unrestricted individualism rather
minion», in pite of the
t honest shareholders.
than submit to u control by the
expense of
• Panama
ar
1
ind telephone companies state so drastic and sx> foolish,conceived,
saving of .) irly nine
annual
in a spirit of such unreasonable and
urstare
business
should
it charge
ceedin gl
ie jurisdiction of the In- narrow hostility to wealth, as to pre­
fa tisfactorv
ially in
vent business operations from being
-w of the’
cree Commission«
’bi« >, r period the nation
nestly to be wished that prufitai‘le, and therefore to bring to
. ta ted to under
.....:. rtake any expendltl
■•High th»dr represent«- 'ruin the entire business community, and
egarded as necess.n y
Tin i
Pt in this matter. Tt is ultimately the entire body of citizens.
been ni new ..lx„ ariJ no (J.
• i irnist damage to
The opposition to government control
ft» would c«>me from I of tiles« gr*>at corporations makvs its
taxes, but on the contrai
e part of th«* public most effective effort in th«' s hape of an
e been taken off and ti
»ntrol the actions of appeal to the old doctrine of state’s
"..... ’ "n or taxation.
is. or from the ex­ ■ ights. t>f course there arc many sln-
* orporutiouN
it ry governmental cere men who now beilev
in unre-
s regains uir great corporation
would do injustice jstrhled individualism in business,
gage.I in inter-stat. bu>lnv>> an
rations. Both the 1 as many sinvvre
m*n formerly believed
sinuk're men
L
¡■••• ially th»- railroads, I can .»nl\ r, p,.at
itrtoted indivldual- I in slavery
that is. the
unrestricted
, — -that
uurestrict
[ what 1 Lave already said again ami
s
of
an
oppression
right
<»t
an
individual
individu.il
to
own
anotli*
anoi
c
t
•
11
mesagvs to the congress.
h would deny to abb* men of bu«l- individual. These men du
do not by them
th* ­
I helisve that under the interstate
i the just reward of their initia- selves have great weight, however.
■wover. The
(Clause of the constitution, the I •1it..|
and business sagacity, are advocat- i effective fight against adequate
quate gov­
States Las complete and paramount
volicie« that would be fraught with ernment control and supervision oi in­
right to control al] agencies of inter­ the gravest
harm to the whole country. dividual, and « specially of corporate
state commerce, and 1 believe that the To permit every
lawless capitalist, vv- wealth <*ngaged in interstate business
National government alone can exer­
law -defying corporation, to take is chiefly done under cover, and »'spec­
cise tills right with wisdom and effec­ I ery
any
action
no
matter
of an appeal to
tiveness so as both to secure justice in the effort to secure how an iniquitous,
Improper ially under cover
It is not at all Infre­
from, and to do justice to, the great I profit,
and to build up privilege, would states* rights
corporations which are the most impor­ t»e ruinous to the republic and would quent to read in some speech a denun­
tant factors to modern business. 1 be­ mark the abandonment of the effort to ciation of predatory w»*alth fostered
lieve that it is worse thau folly to at­ secure
to the industrial world the spirit by special privil«»ge ami defiant of both
tempt to prohibit all combinations as is of democrat!« fair dealing. On the oth­ the public' welfare ami the law of the
dune by the Sherman anti-trust law, er hand, to attack these w rongs in that land, ami a denunciation of centraliza­
because such a law can be enforced on­ spirit of demagogs
w hl< I
i «a *«•«• tion in th«* central government of the
ly imperfectly and unequally, and its I wrong only when committed against power to »leal with this centralized and
enforcement works almost as much ! men of property or by men of no prop- organiztnl wealth. Of course, the policy
hardship as good. I strongly advocate erty, is exactly as evil as corruptly to set forth in such twin denunciations
that instead of an unwise effort to pro­ jdefend the wrongdoings of men of amounts to absolut«'ly nothing, for th»*
hibit all combinations there shall be ! wealth.
The war we wage must be first half is nullified by the second
The chief reason, among the
substituted a law which shall express­ ! w aged against
_
misconduct, against half.
sound ami compelling reason«,
ly prohibit combinations which are in wrongdoing wherever it is found,
and many
______ _____
the interest of the public, but shall at we must stand heartily for the right« of that le»! to the formation of tile nation­
the same time give to some agency of every decent man. w hether he be a man al government was the absolute need
the National government full power of of great wealth or a man who earns that the union, and not the several
control and supervision over them. One bis livelihood as a wage-worker or a states, should deal with interstate and
foreign commerce, and the power to
of the chief features of this control tiller of the soil-
interstate commerce wax
Should be the securing of entire pub-
It i« to the Interest of all that there deal with
Hcity of all matters which the public should be a premium put upon Individ­ granted absolutely and plenarily to the
central
government
and was exercised
tias a right to know, and furthermore, ual initiative and capacity, an«1 an am­
the power, not by judicial but by ex­ ple reward for th»* <r«*at directing ln- completely as regards the only Instru
nient»
of
InterNtale
commerce
known In
ecutive action, to put a stop to every telllgences alon«* competent to manake
form of favoritism or other wrong-do­ the great buslneHH operation, of to- those days the waterway«, the high
road»,
as
well
as
the
partnerships
*>f in­
ing.
day. It is well to keep In mind that
The railways of the country should exactly as the anarchist la the wore« dividuals who hten conducted all of
Interstate
be put completely
the power of enemy of liberty »ml the reactionary what business there was.
the Interstate Commerce Commission, the worst enemy of order, so the men commerce is now chiefly conducted by
and removed from the domain of the who defend th»- rights of property have railroads, and the gr»*at corporation has
anti-trust law. The power of the com­ most to fear from the wronrdoer, of supplanted the mass of smaller partner­
The proposal to
mission should be made thorough-go­ yreat wealt han»l the men who are s' |pa or in<i i \ biu.i ! s
ing, so that it could exercise complete chaniplonlnK popular rlkbts have most niako the national government supreme
supervision and control over the issue to f»ar from the demagogues who In I over, and therefore to give It complete
of securities as well as the raising and the name of popular rights would do control over the railroads and other
lowering of rates. As regards rates, at wrong to anil oppress honest business instruments <>f interstate commerce, is
least, this power should be summary. men, honest men of wealth .for the merely a proposal to carry out to the
The power to investigate the financial success of either type of wrongdoer nec­ letter one of the prime purpoM«*s. If not
operations and accounts of the railways essarily invites a violent reaction the prime purpose, for which the con­
has been one of the most valuable fea­ against the cause of the wrongiloer stitution was founded. It does not rep­
It
represents
tures in recent legislation. Power to nominally upholds. In point of »ianger resent centralization.
make combinations and traffic agree­ to the nation there is nothing to choose merely the acknowledgment of the pat­
ent
fact
that
centralization
has
already
ments should be explicitly conferred between <»n the one hand, the corrup­ come in business
If this irresponsible
upon the railroads, the permission of tionist. the bribe-giver, the bribe-taker, outside business power
Is
to
be
con­
the Commission being first gained and the man who employs his great talent trolled in the interest of the general
the combination or agreement being to swindle bls fellow-dtlzens on a large public it can only be controlled In one
the other hand, the
published in all its details, in the in­ scale anil, on
way—by giving ad»*quate power of con-
terest of the public the representatives •preacher of class hatred, the man who.
I
trol to the one «overoig
vxerciRing
u ••verni
CT
in in
CASIÜHIA
tb al
form, and second
¡table conflict of author
In the effort to enforce different kinds
of «tat* regulation, often inconsistent
with one another, and sometimes op­
pressive |n thomxelve»
Such li\ i led
authority cannot regulate conm.ere«
with wisdom ami effect. The ventral
government la the only power wht
will out oppression, can nev» rtheh
thfioughh and adequately control .i
supervise the large corporations,
abandon the effort for national control
means to abandon the effort tor all a<l-
equate control and ye; to render likely
continual burnt« of action b\ state leg­
islatures which cannot achl« ve th. pur-
po«v «ought for. but which can do a
! AVçÿetable Preparation for As-
gnat I« al of damage to the « .rpora-
| siinilat uitf Ur Food and lingula-
Moii without conferring any real bene­
fit on the public
•" wlsoT
I luigthcSiniMkhsaiitlUoweUaf
I bellev e that the more far-sighted
corporation« ar< |th«-mse|\«•» coming to
hoigr.ize the \li lent liiiwllduir of th«'
violent hostility the> have displayed
during the last few y-ars to regulation
I PremoU’sDiiiestion.Chfrrful
and control by th national government
of combinations ngnged in interstate
busin«'«« The truth Is that wo who be­
I ness aikl Rest Contains neither
lieve in this movement of asserting and
i Opiuin.Morphine nor Mineral,
exercising a genuine control, in the
public Interest, over these great cor­
i N ot N ahcotic
poration» mve to intend with two nets
of enemies, who. though nominally op­
posed to one another ar, really allies
in preventing a proper «ohition of the
AtoV* ✓MW Z>A<ArtZZ/T7LäÄ.?
problem. There are. tlrst. the big cor­
poration men. and the ext rem»' individ­
¿txStnn* *
ualists among business men, w h«» genu
F-Â.Ü,
-
Inely believe in utvrly unregulated bus­
iness—that is. the reign of plutocra<
and s<•< on«!, the men w h«>. being lin.i t
the economic movements of th«» .1 »v. ■
ll»?ve In a movement of represst
t itL« r than of regulation ok
>rp»»
tlons and who denounce both th«' im
of !
er of the railroads and the exvrcl
A perfect Remedy for Constipa­
f«'«!« ral power which alone can r ally
control the rnikroads. Those who be
tion. Sour Stomach.Diarrhoea.
liev. in efficient national «*ontrol. on
Worms,Convulsions,leverish-
the other hand, do not In the least ob­
ject to combinations, do not in the least |
tiess and Loss OF SL1£E1*.
object to concentration in business ad-'
ministration. On the contrary, they fa­
Tac b inule Signature of
vor both, with th«* all Important provi­
sion that there shsl! be such publicity
about their workings. nn«1 such thor­
ough-going control over them an to In­
NEW YORK.
sure their being In the interest, amt
not against the Interest, *»f the general
public. We do not object to the con­
centration of wealth, and administra­
tion. but we do be)i«*ve In the distribu­
tion of th«» w»*aith in profits to the real
owners, and In securing to the public
tli»* full benefit of concentrated admin­
EXACT COPT OP WRAPPER.
istration. We believe that with con­
centration In administration there can
Tkl
*-ome both the advantage of a large
ownership nn»l of a more equltabla dis­
tribution of the profits, and at th»» Maine
time a better «ervlce to the common­
wealth
We believe that the admlnl«-
tratlon should be for the benefit of the
many that greed and rascality, prac­
ticed on a large scale, should be pun­ more accurate to nay tn steady effort«
who through the saving« banka loan
ished as relentlessly ns |f n were prac­
in many different direction«. to bring th«»lr money to the worker»—that 1«.
ticed on a small scale.
in many case« to themselves—to carry
about SUch a condition
affair« under on their various Industrie«. The more
«■bor
There are many matters affecting la­ which the men wno worn with band or we lncrea«e their number, the more wo
bor an»l the slatas of the wage-wurk*»r brain, the laborers, the «upertntendent«. Introduce the principles of co-operation
to which I should like to draw your at­ the men who produce for tho market Into our InduNtry. Every Increase In
tention. but an exhaustive dl«c'usslon of and the men who find a market for the the number of small stockholders In
the problem In all Its asp««cti* Is not article produced shall own a far great* corporations ia a good thing, for the
now necessary
Thl« administration 1« er «bar«* than at present of the wealth same teaNonN and where the employes
now iK'aring Its end, an«!, moreover, un­ they produce, and be enabled to Invest are the stockholder« the reault 1« par­
der our form of government th«» «elu­ It In tin- otols and InMtrumenta by ticularly good.
Very much of thia
tion of the problem depends upon the which all work I m carried on
As far movement must be outside of anything
action of the states as much uh upon as possible I hope to »«>•» a frank recog­ that can be accomplished by legisla­
the ac tion of the nation. Nevertheless, nition of th»» advantages conferred by tion. but legislation can do a great deal.
there are c-ertaln Considerations which machnlery, organization, and division PoRtul savings banks will make it easy
I wish to set befor»* you, because I hop«» of labor, accompanied by an effort to for the poorest to keep their savings
that our people will b»* mor«* and more bring iibout a larger share in the own­ . In absolute safety. The regulation of
keep them in mind. A blind and Igno­ ership by wage -worker« of the railway, . the national highways must be auch
rant
1 m .* to r\«Ty »*ff»»rt for th«» mill and factory. I n farming,
‘
this aim- , that they shall serve all people with
reform of abuses for the readjust­ ply means that w'e wish to see the far- j equal Justice. Corporate finances must
ment of society to modern intluNtrial tner own bis own land, we do not wish ■ be supervised mo as to make it tai Mafer
conditions represent« not true <»on«»*r- to see th»' farms s«» large that they he
than at present for the ma-i oi » mall
___
\atisni. but an Incitement to the wild­ come the property of absentee land
means to invest this money in stocks,
est radicalism
WIs»* radicalism an«! lords, who farm them by tenants, nor TiH-r» must be prohibition of e..il I la-»
wise conservatism go hand in han«!. <’ • yet, so small that the farmer becomes I bur, diminution of woman labor, short-«
bent on progr<*NS, th»* other bent on see­ like a European peasant
Again, the «nlng of hour« of all mechanical la-.
ing that no chang»* I n made unless in
the right direction.
I believe in a 1
steady effort, or perhapM it would l > J population.
<<Continued on Pago Nine.»
4o<> D rops
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CASTORI!
□
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11 ■
1
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Ak
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*
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