In considering the plan proposed the sole matters which should be taken
into account, in my opinion, are the situation of the Government as a
creditor and the surest way to secure the payment of the principal and
interest of its debt.
By a recent decision of the Supreme Court of the United States it has
been adjudged that the laws of the several States are inoperative to
regulate rates of transportation upon railroads if such regulation
interferes with the rate of carriage from one State into another. This
important field of control and regulation having been thus left entirely
unoccupied, the expediency of Federal action upon the subject is worthy
of consideration.
The relations of labor to capital and of laboring men to their employers
are of the utmost concern to every patriotic citizen. When these are
strained and distorted, unjustifiable claims are apt to be insisted upon
by both interests, and in the controversy which results the welfare of
all and the prosperity of the country are jeopardized. Any intervention
of the General Government, within the limits of its constitutional
authority, to avert such a condition should be willingly accorded.
In a special message[11] transmitted to the Congress at its last session
I suggested the enlargement of our present Labor Bureau and adding to
its present functions the power of arbitration in cases where
differences arise between employer and employed.
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