tes on railways are now controlled;
although this is not a power that should be used when it is possible to
avoid it. The law should be clear, unambiguous, certain, so that honest
men may not find that unwittingly they have violated it. In short, our
aim should be, not to destroy, but effectively and in thoroughgoing
fashion to regulate and control, in the public interest, the great
instrumentalities of modern business, which it is destructive of the
general welfare of the community to destroy, and which nevertheless it
is vitally necessary to that general welfare to regulate and control.
Competition will remain as a very important factor when once we have
destroyed the unfair business methods, the criminal interference with
the rights of others, which alone enabled certain swollen combinations
to crush out their competitors--and, incidentally, the "conservatives"
will do well to remember that these unfair and iniquitous methods by
great masters of corporate capital have done more to cause popular
discontent with the propertied classes than all the orations of all the
Socialist orators in the country put together.

I have spoken above of Senator Davis's admirable address delivered a
quarter of a century ago. Senator Davis's one-time partner, Frank B.
Kellogg, the Government counsel who did so much to win success for the
Government in its prosecutions of the trusts, has recently delivered
before the Palimpsest Club of Omaha an excellent address on the subject;
Mr. Prouty, of the Inter-State Commerce Commission, has recently, in
his speech before the Congregational Club of Brooklyn, dealt with
the subject from the constructive side; and in the proceedings of the
American Bar Association for 1904 there is an admirable paper on
the need of thoroughgoing Federal control over corporations doing an
inter-State business, by Professor Horace L. Wilgus, of the University
of Michigan. The National Government exercises control over inter-State
commerce railways, and it can in similar fashion, through an appropriate
governmental body, exercise control over all industrial organizations
engaged in inter-State commerce. This control should be exercised, not
by the courts, but by an administrative bureau or board such as the
Bureau of Corporations or the Inter-State Commerce Commission; for
the courts cannot with advantage permanently perform executive and
administrative functions.

APPENDIX B

THE CONTROL OF CORPORATIONS AND "TH