Theodore Roosevelt and His Times: A Chronicle of the Progressive MovementHowland, Harold
History
Theodore Roosevelt and His Times: A Chronicle of the Progressive Movement
Howland, Harold
Progressive Party (1912); Roosevelt, Theodore, 1858-1919
But the proving of the anti-trust law as an effective weapon against the
flagrantly offending trusts, according to Roosevelt's conviction, was
only a part of the battle. As he said, "monopolies can, although in
rather cumbrous fashion, be broken up by lawsuits. Great business
combinations, however, cannot possibly be made useful instead of noxious
industrial agencies merely by lawsuits, and especially by lawsuits
supposed to be carried on for their destruction and not for their
control and regulation." He took, as usual, the constructive point of
view. He saw both sides of the trust question--the inevitability and
the beneficence of combination in modern business, and the danger to
the public good that lay in the unregulated and uncontrolled wielding
of great power by private individuals. He believed that the thing to do
with great power was not to destroy it but to use it, not to forbid its
acquisition but to direct its application. So he set himself to the
task of securing fresh legislation regarding the regulation of corporate
activities.
Such legislation was not easy to get; for the forces of reaction were
strong in Congress. But several significant steps in this direction were
taken before Roosevelt went out of office. The new Federal Department
of Commerce and Labor was created, and its head became a member of
the Cabinet. The Bureau of Corporations was established in the same
department. These new executive agencies were given no regulatory
powers, but they did perform excellent service in that field of
publicity on the value of which Roosevelt laid so much stress.
Public-domain text, read in full here on John Shaqi.
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