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ALBUQUEHOUE EVENING CITIZEN. FRIDAY, AUGUST 11, 1905. ' PAGE THREE Will Buy You A Beautiful Fifty Foot Lot In The f -ill SSI 5 ffiFV II PHce Th? Glebe-Wcrniche Elastic Sectional Book Case Is the standard of excellency In book cases. They are the orig inators of the unit system in book cases. We have the exclusive agency of this world-famous line, and have Just received a com. plete line of them, and invite you to call and inspect the line. It is a pleasure to show you the many advantages of the GLOBE WERNICKE over other makes. Why pay. as much for an Inferior article as you can get the standard for. See our window display. "Get the habit." J. D. EMMONDS Successor to W. V. Futrelle. PRESIDENT'S SPEECH (Continued from Page 1.) things in our history in which we should take more genuine pride than the way in which we liberated Cuba, and then, Instead of instantly aban doning it to chaos, stayed in direction of the affairs of the island until we had put it on the right path, and final ly gave it freedom and helped it at ia started on the life of an Independent republic. I Santo Domingo has now made an I appeal to us to help it In turn, and not only every principle 01 wisuum but every generous instinct within us bids us respond to the appeal. The conditions in Santo Domingo have for & number of years grown from bad to worse until recently all society was on the verge of dissolution. Fortun ately Just at this time a wise ruler sprang up in Santo Domingo, who, with his colleagues, saw the dangers threatening their beloved country, and appealed to the friendship of their treat and powerful neighbor to help them. The immediate threat ' came in the shape of foreign inter vention. The previous rulers of San to Domingo had recklessly incurred debts, and owing to her internal dis orders she had ceased to be able to provide means of paying the debts. The patience of her foreign creditors had become exhausted, and at least one foreign nation was on the point of Intervention and was only prevented from intervening by the unofficial as surance of this government that it would itself strive to help Santo Do mingo in her hour of need. Of the debts Incurred some were just, while some were not of a character which really renders it obligatory on. or proper for, Santo Domingo to pay them in full. Hut she could not pay any of them at all unless some stabil ity was assured. The Santo Domingo Treaty. Accordingly the executive depart ment of our government negotiated a treaty under which we are to try to help the Dominican people to straigh ten out their finances. This treaty is pending before the senate, whose con sent to it is necessary. In the mean time we have made a temporary ar rangement which will last until the senate has had time to take action up on the treaty. Under this arrange ment we see to the honest adminis tration of the custom houses, collect ing the revenus, turning over forty five per cent to the government for running expenses and putting the other fifty-five por cent into a safe de posit for equitable division among the various creditors, whether European or American, accordingly as, after in vestigation, their claims seem just. The custom house offers well-nigh the only sources of revenue In Santo Domingo, and the different revolu tions usually have as their real aim the obtaining possession of these custom- houses. The mere fact that we are protecting the custom-houses and collecting the revenue with efficiency and honesty has completely discour aged all revolutionary movement, while It has already produced such an Increase in the revenues that tho government is actually getting more from the forty-live per cent that we turn over to it than it got formerly when It took the entire revenue. This is enabling the poor harrassed peo ple of Santo Domingo once more to turn their attention to industry to be free from the curse of intermnable revolutionary disturbance. H offers to nil luinn fide creditors, American and European, the only really good chance to obtain that to which they are Justly entitled, while it in return gives to Santo Domingo the only op portunity of defense against claims which It ouph not to pay for now if It meets the views of the senate we shall ourselves thoroughly examhre all these claims, whether American or foreign, and see that none that are improper are paid. Indeed, the only effective opposition to the treaty will probably come from dishonest credi tors, foreign anil American, and from the professional revolutionists of the island Itself. We have already giod reason to believe that some of the creditors who do not dare expose their claims to honest scrutiny are endeavoring to stir up sedition in the 100 - Q150 - $200 Corner Coal Ave. and Second St island, and are also endeavoring to stir up opposition to the treaty both in Santo Domingo and here, trusting that in one place or the other it may be possible to secure either the re jection of the treaty or else its amendment in such fashion as to be tantamount to rejection. Under the course taken, stability and order and all the benefits of peace are at last coming to Santo Domingo, all danger of foreign intervention has ceased, and there Is at last a pros pect that all creditors will get jus tice, no more and no less. If the arrangement is terminated, chaos will follow; and if chaos follows, sooner or later this government may be In volved in serious difficulties with for eign governments over the island, or else may be forced itself to intervene in the island in some unpleasant fashion. Under the present arrange ment the independence of the sland Is scrupulously respected, the danger of violation of the Monroe Doctrine by the intervention of foreign powers vanishes, and the interference of our government Is minimized, so that we only act in conjunction with the San to Domingo authorities to secure the payment of Just debts and to secure the Santo Dominican government against demands for unjust d'ibts. The present method prevents there being any need of our establishing any kind of protectorate over the isl and and gives the people of Santo Do mingo the same chance to move on ward and upward which we have al ready given to the people of Cuba. It will be doubly to our discredit as a nation If we fail to take advantage of this chance; for it will be of damage to ourselves, and, alwve all. It will be of Incalculable damage to Santo Domingo. Every consideration of wise policy, and, above all. every consideration of large generosity, bids us meet the request of Santo Domin go as we are now trying to meet it. Our Domestic Policy. So much for one feature of our for eign policy. Now for one feature of our domestic policy. One of the main features of our national gov ernmental policy should be the effort to secure adequate and effective su pervisory and regulatory control over all great corporations doing an inte state business. Much of the legisla tion aimed to prevent the evils con nected with the enormous develop ment of these great corporations has been ineffective, partly because it aimed at doing too much, and partly because it did not confer ou the gov ernment a really efficient method of holding any guilty corporation to ac count. The effort to prevent ad re straint of competition, whether harm ful or beneficial, has been ill-judged; what is needed is not so much the ef fort to prevent combination as a vigil ant and effective control of the com binations formed, so as to secure just and equitable dealing on their part alike toward the public generally, to ward their smaller competitors, and toward the wage-workers in their em ploy. Under the present laws we have in I the last four years accomplished much that is of substantial value; but tho , difficulties in the way have been so great as to prove that further Kgiala tion Is advisable. Many corporations show themselves honorably desirous to obey the law; but, unfortunately, some corporations, and very wealthy ones at that, exhaust every effort which can be suggested bv the highest ability, or secured by the most lavish expenditure of money, to defeat the purposes of the laws ou the statute books. Not only the men in control of these corporations, but the business world generally, ought to realize that such conduct is in every way perilous, and constitutes a menace to the nation generally, and especially to the peo ple of great property. I earnestly believe that thl-s is true of only a relatively Miiall portion of the very rich men engaged In hand ling the largest corporations in the country; but the attitude of these com paratively few nieu does undoubtedly harm the country, and above all, harm the men of large means, bv the Just. but sometimes misguided, popular in dignation to which It gives rise. The consolidation In the form of what are popularly called trusts of corporate in SURETY INVESTMENT W. H. Greer, Pres. Solomon Luna, V-Pres. M, W. Flournoy, Sec. D. K. D. Sellers, Mgr. igrfnrtfc er?SK7R TXiWt terests of immense value has tended to produce unfair restraints of trade of an oppressive character, and these unfair restraints tend to create great artificial monopolies. The violations of the law known as the anti-trust law, which was meant to meet the condi tions thus arising, have more and more become confined to the larger combinations, the very ones against whose policy of monopoly and oppres sion the policy of the law was oicfly directed. Many of these combinations y sec ret methods and by protracted litiga tion are still unwisely seeking to avoid the consequences of their illegal action. The government has very properly exercised moderation In at tempting to enforce the criminal pro visions of the statute; but it has be come our conviction that In some cases, such as that of at least certain of the beef packers recently indicted in Chicago, it Is impossible longer to show leniency. Moreover, if the existing law proves to be inadequate, so that under established rules of evi dence clear violations may not be readily proved, defiance of the law must inevitably lead to further legisla tion. This legislation may be more drastic than I would prefer. If so, it must be distinctly understood that it will be because of the stubborn deter mination of some of the great combi nations in striving to prevent the en forcement of the law' as it stands, by rcij ur iet?, legal aim oiegui. vtry 1 many of these men seem to think that ! the alternative Is simply betweeji sub-; mittlng to the mild kind of govern-; mental control we advocate and the absolute freedom to do whatever they think best. They are greatly In error, j Either they will- have to submit to ' reasonable supervision and regulation j by the national authorities, or else they will ultimately have to submit ' to governmental action of a far more drastic type. Personally, I think our people would be most unwise if they let any exasperation due to the acts of certain great corporations drive them into drastic action, and I should ! oppose such action. But the great cor porations are themselves to blame If by their opposition to what is legal and just they foster the popular feel ing which tells for such drastic action. Some great corporations resort to Regarding Interstate Commerce, every technical expedient to render enforcement of the law impossible, and their obstructive tactics and re fusal to acquiesce in the policy of the law have taxed to the utmost the ma chinery of the department of Justice. In my judgment congress may well Inqui-o vhetner it should not seek other means for carrying into effect he law. I believe that all corpora tions engaged in interstate commerce should Jie under the supervision of th' national rovernniciit. I do not believe in taking steps hastily or rashly, and it may be that all that is ncoessaiy in the Immediate future is to pass an Inurstate commerce bill conferring upon some branch of the executive government the power of eff'-ctive action to remedy the abuses in connection with r:.ilway transpor tation. But in the end, and in my Judg ment at a : iiite not very far off, we shall hfve to or at least we Fhall find that we ought to, take fu-.h"r action as regards all ccpouitions doing 'in t'.rsiate business. Tho i-uor ii-.us u-. cr-t-e in interstate trade, resulting trom the industrial development of tin; last qua-.er of r. ceii:er. makes :i proper that the federal government should, so la. as may be necefsaty to carry into effect its national policy, assume a drgre of admlnlstrntivp control of these great ct.rpoif.tions. I It may well be that we shall find! that the only effective way of exercis ing this supervision is to require all corporations engaged in interstate commerce to produce proof satisfac tory, say, to the Depaitment of Com-, merce, that they are not parties to! any contract or combination or en gaged in any monopoly in interstate trade 111 violation of the anti-trust law, and that their conduct on certain other specified points is proper; and, moreover, that these i o: im. rations shall agree, with a penalty of forfeit-: tire o! their right to engage In such: commerce, to furnish any evidence or. any kind as to their trade between: the States whenever so required by the Department of Commerce. j It is the almost universal policy of' the seve.al states, provided by stat ute, that foreign corporations may law-1 , lully conduct business within thtirl boundaries only when they produce ccrtiiicdtes that they have complied witn the requirements of their re speetive statts; u other words, that coi-Huations shall not enjoy tho priv ileut s and immunities afforded by the .state gove. nments without first com- Plying with the policy of their laws. Nmv the benefits which corporations 'iia:'i d In interstate trade enjoy un ,dirtho United States government . are incalculable; and in respect of j such trade the Jurisdiction of the Fed I eral government is supreme w hen it chooses to exercise it. j When, as Is now the case, many of I tho gn at corporations consistently , strain the last resources of legal technicality to avoid obedience to a law fur the reasonable regulation of Call at our office their business, the only way effect ively to meet this attitude on their part is to give to the Executive De partment of the government a more direct and therefore more efficent supervision and control of their man agement. Regulate the Trusts. In speaking against the abuses com mitted by certain very wealthy cor porations or Individuals, and of the necessity of seeking so far as it can safely be done to remedy these abuses there Is always danger lest what is said may be misinterpreted as an at tack upon men of means generally. Now it can not too often be repeated in a republic like ours that i,ie only way by which it Is possible perman ently to benefit the condition of the less able and less fortunate, Is to so shape our policy that all Industrious and efficient people who act decently may tie benefited; and this means, of course, that the benefit will come even more to the more able and more fortunate. If, under such circumstan ces, the less fortunate man is moved by envy of his more fortunate brother to strike at the conditions under which they have both, though un equally, prospered, he may rest as sured that while the result may be damaging to the other man, it will be even more damaging to himseir. Of course, I am now speaking of pros perity that comes under normal and proper conditions. In our industrial and social system the Interests of all men are so closely intertwined that in the Immense ma jority of cases the straight dealing man who by ingenuity and industry benefits himself must also benefit others. The man of great productive capacity who gets rich through guid ing the labor of hundreds or thous ands of other men does so, as a rule, by enabling their labor to produce more than it would without his guid ance, and both he and they share in the benefit, so that even if the share be unequal it must never be forgotten that they too are really benefited by his success. A vital factor in the success of any enterprise is the guiding intelligence of the man at the top, and there Is need In the inteiest of all of us to encourage rather than to discourage the activity of the exceptional men who guide average men so that their labor may result In Increased produc tion of the kind which Is demanded at the time. Normally wo help the wage worker, we help the man of small means, by making conditions such that the man of exceptional busi ness ability receives an exceptional re ward for their ability. Hut while insisting with all em- phasis upon this, it is also true that experience has shown that when there j Is no governmental restraint or super-! vision, some of the exceptional men ' use their energies, not in ways that! are for the common good, but in ways! which tell against this common good; j and that by so doing they not only wiong smaller and less able men ' whether wage workers or small pro-' ducers and traders hut force other' men of exceptional abilities them selves to do what is wrong under pen-; alty of falling behind in a keen race; tor success. There Is need of legis lation to strive to meet such abuses.' At one time or in one place tills leg islation may take the foim of factory laws and employers' lialdllty laws.1 Under other conditions it may take the form of dealing with franchises which derive their value from tho grant of the representatives of the people. It may be aimed at the niani lold abuses, far-reaching in their ef fects, which spring from overeapital-'. ization. Or it may be necessary to meet such conditions as those with which I am now dealing, and to strive to procure proper supervision and reg ulation by the National government of all great corporations engaged in interstate commerce or doing an inter state business. ; There are good people who aie afraid of each tpye of legislation; and much the same kind of argument that is now advanced against the effort to regulate big corporations has been again and again advanced against the c.fiM't to secure proper employers' lia bility laws or proper factory laws Willi loference to women anil child ren; much the same kind of argument was. advanced but five years ago against tho franchise tax law enacted in this state when 1 was governor. Of course there is always the dan ger of abuse if legislation of this type! is approached in a hysterical or senti mental spiritr, or, above all, if it is ap- pioaclieii in n spirit ot envy and h:"red toward men of wealth. 1 We must not try to go too fast, un-' der penalty of finding 'hat we niav l.e j going in the wrong direction; and la' any event, we ought aKvays to pro c ed by evolution an. I n t by revolu tion. The laws must be conceived and executed in a spirit of sanity and j.:s'ice, and with exactly as much re gard for the rights oft ho big man as for the rights of the lit tin man treat ing big man and little man exactly alike. 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