Presidents -- United States -- Messages; United States -- Politics and government -- Sources
The expense is as nothing compared to the advantage to be achieved. The
reestablishment of our merchant marine involves in a large measure our
continued industrial progress and the extension of our commercial triumphs.
I am satisfied the judgment of the country favors the policy of aid to our
merchant marine, which will broaden our commerce and markets and upbuild
our sea-carrying capacity for the products of agriculture and manufacture;
which, with the increase of our Navy, mean more work and wages to our
countrymen, as well as a safeguard to American interests in every part of
the world.
Combinations of capital organized into trusts to control the conditions of
trade among our citizens, to stifle competition, limit production, and
determine the prices of products used and consumed by the people, are
justly provoking public discussion, and should early claim the attention of
the Congress.
The Industrial Commission, created by the act of the Congress of June 18,
1898, has been engaged in extended hearings upon the disputed questions
involved in the subject of combinations in restraint of trade and
competition. They have not yet completed their investigation of this
subject, and the conclusions and recommendations at which they may arrive
are undetermined.
The subject is one giving rise to many divergent views as to the nature and
variety or cause and extent of the injuries to the public which may result
from large combinations concentrating more or less numerous enterprises and
establishments, which previously to the formation of the combination were
carried on separately.
It is universally conceded that combinations which engross or control the
market of any particular kind of merchandise or commodity necessary to the
general community, by suppressing natural and ordinary competition, whereby
prices are unduly enhanced to the general consumer, are obnoxious not only
to the common law but also to the public welfare. There must be a remedy
for the evils involved in such organizations. If the present law can be
extended more certainly to control or check these monopolies or trusts, it
should be done without delay. Whatever power the Congress possesses over
this most important subject should be promptly ascertained and asserted.
Public-domain text, read in full here on John Shaqi.
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