Show HEAR MESSAGE OF presa 0 ENT DOCUMENT FROM CHIEF TIVE READ IN CONGRESS URGES CHANGES IN LAWS present currency system declared imperfect control of corporations Corpor atlon the province of the national gov conduct of labor lead ere era pr postal savings saving banks washington in 10 lilt message to congress lead in both houses lues day Pies president ident makes ini im as to hat he considers necessary legislation the pies president ident congratulates the na tion on its present excellent financial standing but calls attention to 0 o the need of remedying defects in the th e cur rency system ile ho says saya the financial standing of the tha nation at the present time Is ti excellent and the financial management of the nation s interests by the government dur ing tile last seen icara earn has shown the in most tint sa A la factory insults but our CUT cur rancy rutn y system Is imperfect end and it Is in ear neatly to be hoped that the currency curi ency commission mill w be able to propose propone a thoroughly good system which milich will mill do amay mith the existing defects during the from july I 1 to september Sp S so 30 cwb it ere was w an Iner increase eRme in the amount of money in efre of if I 1 ka the increase in the per capita this period was wag ft W rhin this time there were several occasions lons when hen it was man neve necessary smary tor the treasury tie de parl ment ent to come to the lie relief relict of the money market by purchases or redempa lions of united states bonds by indrea nii nor ink deposits in n national banks bv etim elating additional issues of rint national ional bank notes anti and by facilitating I 1 aiom riom abroad of 0 goll our tur cur rency intern has male these proceedings necessary necess ri and tint they were until the tha monetary disturbance in the tha fall of 1407 immensely increased the difficulty of ordinary methods of relief by bv the mid file of november r the available working balance in the ho treasury had town boon reduced to approximately r 00 clearing Clearl rB house abot latliss inh throughout the coun conn try had been obliged to resort to tho the ex expedient of issuing clearing house ver per to be used timed its as money in title this emorgene emergence it was mam to invite subscriptions for I 1 panama canal bonds and 1000 MM three per cent cant certificates of authorized b by y tho the at art of june it 13 1998 it was wag pr posed d to in the national banks the proceeds of these issues and to permit their use usa an 0 a basis for additional arcu lating notes noted of national banka k the moral effect of this prore procedure dure was so no great that hat it mas necessary to issue only 2 of the panama bonds and 15 36 of the cc nitin i pates of indebtedness Indebted dur during ng the he period from july I 1 1901 to september 30 1908 2908 the balance bet between lApen the net ordinary receipts and the act eap exp ast s of tho the government showed allowed a surplus tn in the tour four years yearn 1102 1901 1903 bitof and aw 1907 and a deficit done it in the years 1916 itina and a fractional part of the ilie fiscal benr par 1109 tit the nt net schult was a surplus c t sad ibi tile linan inan caal operations opt rations of tho government during this pt rafol based upon theme hebe between receipts and re suited in a net reduction of the interest bearing debt of the united states elates from to tS notwithstanding that there had been two sales nales of panama canal bonds amounting in file he aggregate to and an issue of three per cent certificates of indebtedness under the art act of june julie IS 33 1838 2898 amounting t 15 BOO ne funding operations of the tr scoury department under the act of march 14 IWO resulted in lite conversion into two per cent console of 1330 of I 1 00 bonds bond B bearing higher rates of interest A d decrease resse of 8 abt A in tile the annual interest charge resulted from these operations in ellort during ilia he seven years and i three bree months there hns has been a net sur our plus of nearly one hundred millions of receipts or oner expenditures a redic tim of af the interest bearing b arloff debt by ninety millions in spite of the extraordinary ex pense of the panama canal and a sahng of nearly nine nina millions on the annual interest charge the message reiterates the well mell known lews of the president that the control of great corporations cape dally the railroads of the country should be vested in the national gov eov eminent lie ile says I 1 believe that it Is worse morse than folly to attempt to all combinations corn nations as to Is done by the sherman antl anti trust law because such A law can be enforced only imperfectly and un qually equally e and its enforcement al most as an mud much hardship as good I 1 tangy tl tion ngY gly advocate adv ocote that instead of an un vine m ins effort to prohibit pro libit ible all combinations combination A there shall be substituted a law which shall expressly permit count corill inactions which are in the interest of the public but shall at the he same time give to some soine agency in the national government gove rement full power pomer of control and supervision over thern them the railways of the country should bo be put comp completely petely the interstate corn mere merce commission an 1 removed from the domain of the antl anti trust law llie ilia of th the omm ion should be made thoroughgoing so tt 0 at it coull coul I 1 exercise complete supervision and control oer the lite of nour securities ittes as an well ns its oer the raising and low lowering tring of rates As regards rates at least this power should tia be summary liate dates must bo be made as an low as an Is compatible with giving prop er cr returns to an all the emi ernt loyes loyen of tle tie rail road from the highest to the lowest and proper returns to the shard but they must ot t ft ar instance tance he be ro re deuced in such fashion ts an to a out cut in the wages of the lie emi floyes or the abolition of th tile proper and bronts of honest shareholders Inter estai of the Wag worker turning to conditions affecting tho the and the roan man of small means the president says postal banks will make it eai enia ea i for the poorest to kep keep their savi in abio fute surety safety the tha regulation of the national highways must be such that they shall serve all people with equal Cor corporate finances must be supervised so as an to make it fur far safer than at present for the man of small meana to invest liln itts money in stoc blocks its there must be prohibition baitlon of child la Is bor mi nution of women labor short ening of hours of all mechanical lilor stock watering should be ba prohibited find and tok stok gambling so BO far as an Is hosul hie ble discouraged thre should ho be a progressive inheritance tax on large fortunes industrial education should tie 06 encouraged As fa is as possible vie me light hahn tri lite burden of taxation 1 on the tha small man should no I 1 longer be ba any walli ith clift question lik atlon of taking tare of tha mage workers who under our r pr s I 1 cut t ind motilal system become killed hilled crippled or worn morn ait olt oit an aart or of the i uvular ants of a given elten bust C s a As A far as cont bonu t ans rn those who have hava b been een w worn orn out I 1 ca call I 1 your attention to lo the fat fait that definite toward providing old age pen a tons blonn have hem been taken in ninny many of our rt avat lea these may he be indefinitely ennit lely tl rough voluntary ola tion ant contributory or through the agency of 0 savi bunks banks as a under the lie massachusetts plan urgent need of reform our present in or raither no ays tan tern borka v rk dad dreadful darful ful wronie md and is IB ot benefit to 0 only one on 1 il I is of people the jam vers IN when hen a workman t Is in injured a what he kedit I 1 Is not on an extensive and doubtful lawsuit but the certa certainty tilty of relief through immediate 11 i if the 6 notion action no academy ae theory i about free freedom ctorn of contract or consal tut tuti lonal liberta to eon eintract tract huld he bo permitted to interfere with this and similar I 1 renew my I 1 that hat the principle of if tile the elget 1 our dy day should a ai ral mildly idly anti ancl ns as far as n fable ablo le ito extended to the entire work being carried on hy by the government the present liw lim khouli be amended to embrace br to c 0 on those publio public em ka wor borka a N aich t tha he present wording of tile act seems beems to exclude excle ex clu judges too poorly paid coupled with ith a eulogy of the ju in dic declary lary of the nation the president urges that beginning with the sit BU preme court the judges should have their salaries doubted doubled As was to be expected the be attitude assumed by certain labor loaders dur ing tho the recent election comes in tor for bitter criticism the president as berts that demands made on cong congress for legislation veto unjust and lin practical and could but harm to the he cause of labor while declaring that our judicial system la is sound ant effective at core the president says bays there art are certain deda lonii ly by itt rious courts which liate have been baki det del r to tila of afia workers this Is 1 true of all derisions deri that deatle that inen are arc by the guar their liberty ti 0 contract contra c t t to enter a occupation or 0 o it 11 it an desirable in or improper number of I 1 hour 11 c u rs or to nork mork in unhealthy 6 surroundings and cheref re cannot recover damages ahen maimed in that occupation pation and cannot be forbidden for forbid bidlen in to work what the he legin legislature lature ides Is an excessive mini decides jec her of ito rr or to carry on tile pie under conditions cond Klona which the lie legislature d lerl ld dil to I 1 ie e unhealthy briers inera to la also I 1 think ground for ill the niter that hat substantial in ln ofton mw offered M h emp lovea loves in consequence of the custom of courts issuing temporary injunctions without nollia to then ant anil punitia ing inar them for contend pt of court in where an aa a mutter matter of fact they hoi haie e no know ie iffe of any proceed I 1 n go organized labor li in chafing under the restraint which comes from repeated to this thin plan of ct prore procedure duro injunction mut must remain thu the power of injunction la in a great qui tallo ie remedy alich wl ach should on n account hb be fies eB troied hut but sare gunnis should be erected against its abuse tn in provision aboul 1 be niada made that no injunction or temporary tempo iary ro re nIng order asrue than on excell where irreparable injury would mould otherwise other mime result anti and in itch onse it a hearing on the merits or of thi the order should be had within a short fixed period and if not then continued after emarl it should forthwith larme ja do cl mions eions should be b ronfred immediately and the lie chance of d diny delay iny mInI minimized mIred in every way any moreover I 1 believe that the tha procedure prore dure should be ba sharply dwinel ant the tha judge gilted minutely to state mate the particulars particular both of life ilia action and of his reasons so no that the rong bonardo can it if it desires and ini Poti gats the name a me harm worked by law discussing mea measures turea necessary for the cloper control of giant corpora eions operating in defiance of law the president sais real neal lias has been done by the n manifold 1 an I 1 conflicting interpretations fi 01 1 the tha interstate corn commerce merce law control over the lite great doing interstate busin sm can be e only if it Is 1 vested with full power in an department a branch of the federal executive carrying out a federal law it can never I 1 a effective it a divided responsibility la in left in both the states and the nation it ran can never bo be effective if left in tho the handa of the courts to in be decided by lawsuits liv Bult the courts hold it piaca of ne pecullar cullar ani anler our tons foral of gov Iten Ite pett foi the 1 J ltv is 1 e n bial to tile the permanence p ence of our lo 10 tlona I 1 n and d regret for the law la Is larg largely ay iy conditioned ol 01 W ed upon respect for the coin in it is ie an against tho the re pillin 1 llo to say gay anything which can this re for the graant and in tho the most inot carefully g I 1 mannar in no other nation lit in the world d do the lite courts m lei I 1 auch h vast mitat and far reaching power as in the untied united baates all that Is 1 nee ato Is that the courts court as a a whole should exercise thin ihla power pomer with the far sighted wisdom already blon I 1 ly y those judgen who scan man tho future while tl ey act in tho the present forest foreit preservation the manifest necessity for foiest preservation la Is pointed out as a duty the ires nt generation owes to its de ants and the president eltes cites the case of china where reckless rec klosa de defer for est atlon has resulted in creating des erts as art an object lesson inland waterways waterway immediate faction action by tho tha present of congress for the improve mant of our inland waterways the president declares to bo be imperative ile he the creation of a per manent commission authorized to co orli ordinate nate the work of all the govern ment relating tu to water waya A aye and to frame and super sui vitie the execution of a plan postal savings banks bank urging the immediate institution of oc postal sa savings vints banks the ines saget says I 1 again renew my recommendation for postal savings bink lot foi depositing ns with the mor arity of tile the rovern government g ment behind them 1 4 he object la Is to thrift ani economy in n the wowe earlier anti and person pernon of moderate n i ano it t in boll bell eved evoil eliat t in tho the nant ast sums of mone nionia y would le be I 1 rought int arrul tion ugh Kli the in so umen of the postil postal savings banks parcel post poet the advisability of the of a parcel post service Is thus thua dealt v ith I 1 in my lent lat annual desage I 1 com mended the gen erain recommendation for an extension of chiki ian parcel pot on tho the rural rhe of a local post p om t on aurs rural routes would mould bi to the mutual bent f I 1 of ct tl tie e fai anc r ant an I 1 the countie connitt v an aal I 1 it is fa that the routes ser ang more that 1 I i il 11 I 1 s 1 c I s ka t aa t r i 1 I penile enoi IP to ro utilized to alt vt pravel i hip stent education dealing with the important I 1 jcl acl I 1 r of the nt 1 ith tho the limited weans hitherto 1 v roi add ia d tho the bureau of 0 a dunt lon line has rendered service but the con weis kipa hat neglected to ti adequately mor IF ply tin lilt bureau with means to meet inert tt fil a nal growth of the roti con iv I 1 that i i 1 fortunate of im i i t t tn ix tho nation it AI li 11 r file died by appy appi PI ll 11 W x I 1 elji I 1 is reo ronn Is urged arned by UK the r anric pi c niti tives til of our common and gri ill at binl ira and lit hn li it iding who mho all unite in favorable lor ablo consid consideration cration anti anil acton aall n by the lite upon this thin subject the president dent paints out the 8 ity of better beter aaion of tho the varl ous bute atis for or the ht health alib and urca the placing of all ail Bol dlois homes lund lunder tr the of the war delart department ment statehood on oil the ho question llon of statehood tle tie pi estilena est ilent 80 a 8 I 1 iid oate oiste tin tie immediate tr if nw and arizona as an nent M rii il a should lie dono it at the present slon of I 1 the lie so rib pt at ae of tie 11 a t two 0 feriv an v t lie hix e mato rna ta it evident by tl bair ir tea that ahoy will ill not lonto in na as on one tate lite iho only al Is to nl ad nit it I 1 thein hem 1 nn m I 1 wo a und nd I 1 i ut th that it th lilu Is M viall tit be b done m biln 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