Address of President Roosevelt at Chautauqua, New York, August 11, 1905Roosevelt, Theodore
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Address of President Roosevelt at Chautauqua, New York, August 11, 1905
Roosevelt, Theodore
Corporation law -- United States; Finance -- Dominican Republic; Monroe doctrine; Speeches, addresses, etc.
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
corporations are themselves to blame if by their opposition to what is
legal and just they foster the popular feeling which tells for such
drastic action.
Some great corporations resort to every technical expedient to render
enforcement of the law impossible, and their obstructive tactics and
refusal to acquiesce in the policy of the law have taxed to the
utmost the machinery of the Department of Justice. In my judgment
Congress may well inquire whether it should not seek other means for
carrying into effect the law. I believe that all corporations engaged
in interstate commerce should be under the supervision of the National
Government. I do not believe in taking steps hastily or rashly, and
it may be that all that is necessary in the immediate future is to
pass an interstate-commerce bill conferring upon some branch of the
executive government the power of effective action to remedy the
abuses in connection with railway transportation. But in the end, and
in my judgment at a time not very far off, we shall have to, or at
least we shall find that we ought to, take further action as regards
all corporations doing interstate business. The enormous increase in
interstate trade, resulting from the industrial development of the last
quarter of a century, makes it proper that the Federal Government
should, so far as may be necessary to carry into effect its national
policy, assume a degree of administrative control of these great
corporations.
It may well be that we shall find that the only effective way of
exercising this supervision is to require all corporations engaged
in interstate commerce to produce proof satisfactory, say, to the
Department of Commerce, that they are not parties to any contract
or combination or engaged in any monopoly in interstate trade
in violation of the anti-trust law, and that their conduct on
certain other specified points is proper; and, moreover, that these
corporations shall agree, with a penalty of forfeiture of their right
to engage in such commerce, to furnish any evidence of any kind as to
their trade between the States whenever so required by the Department
of Commerce.
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