None of Mr. Roosevelt's later messages added anything new by way of economic doctrine or moral principle. The same notions recurred again and again, often in almost identical language and frequently in the form of long quotations from previous messages. But there appeared from time to time different concrete proposals, elaborating those already suggested to Congress. The tariff he occasionally touched upon, but never at great length or with much emphasis. He frequently reiterated the doctrine that the country was committed to protection, that the tariff was not responsible for the growth of combinations and trusts, and that no economic question of moment could be solved by its revision or abandonment.
As to the trusts, Mr. Roosevelt consistently maintained the position which he had taken as governor of New York and had stated in his first message; namely, that most of the legislation against trusts was futile and that publicity and governmental supervision were the only methods of approaching the question which the logic of events admitted. In his message of December, 1907, he said: "The anti-trust law should not be repealed; but it should be made more efficient and more in harmony with actual conditions. It should be so amended as to forbid only the kind of combination which does harm to the general public, such amendment to be accompanied by, or to be an incident of, a grant of supervisory power to the Government over these big concerns engaged in interstate business. This should be accompanied by provision for the compulsory publication of accounts and the subjection of books and papers to the inspection of the Government officials.... The Congress has the power to charter corporations to engage in interstate and foreign commerce, and a general law can be enacted under the provisions of which existing corporations could take out federal charters and new federal corporations could be created. An essential provision of such a law should be a method of predetermining by some federal board or commission whether the applicant for a federal charter was an association or combination within the restrictions of the federal law. Provision should also be made for complete publicity in all matters affecting the public, and complete protection to the investing public and the shareholders in the matter of issuing corporate securities. If an incorporation law is not deemed advisable, a license act for big interstate corporations might be enacted; or a combination of the two might be tried. The supervision established might be analogous to that now exercised over national banks. At least, the anti-trust act should be supplemented by specific prohibitions of the methods which experience has shown have been of most service in enabling monopolistic combinations to crush out competition. The real owners of a corporation should be compelled to do business in their own name. The right to hold stock in other corporations should be denied to interstate corporations, unless on approval by the proper Government officials, and a prerequisite to such approval should be the listing with the Government of all owners and stockholders, both by the corporation owning such stock and by the corporation in which such stock is owned."
With that prescience which characterized his political career from his entrance into politics, Mr. Roosevelt foresaw that it was impossible for capitalists in the United States to postpone those milder reforms, such as employers' liability, which had been accepted in the enlightened countries of Europe long before the close of the nineteenth century. In his message of December 3, 1907, he pointed out that "the number of accidents to wage-workers, including those that are preventable and those that are not, has become appalling in the mechanical, manufacturing and transportation operations of the day. It works grim hardship to the ordinary wage-worker and his family to have the effect of such an accident fall solely upon him." Mr. Roosevelt thereupon recommended the strengthening of the employers' liability law which had been recently passed by Congress, and urged upon that body "the enactment of a law which will ... bring federal legislation up to the standard already established by all European countries, and which will serve as a stimulus to the various states to perfect their legislation in this regard."
As has been pointed out above, Mr. Roosevelt, in all of his recommendations, took the ground that the prevailing system of production and distribution of wealth was essentially sound, that substantial justice was now being worked out between man and man, and that only a few painful excrescences needed to be lopped off. Only on one occasion, it seems, did he advise the adoption of any measures affecting directly the distribution of acquired wealth. In his message of December 3, 1907, he declared that when our tax laws were revised, the question of inheritance and income taxes should be carefully considered. He spoke with diffidence of the latter because of the difficulties of evasion involved, and the decision of the Supreme Court in 1895. "Nevertheless," he said, "a graduated income tax of the proper type would be a desirable feature of federal taxation, and it is to be hoped that one may be devised which the Supreme Court will declare constitutional." The inheritance tax was, in his opinion, however, preferable; such a tax had been upheld by the Court and was "far more important for the purpose of having the fortunes of the country bear in proportion to their increase in size a corresponding increase and burden of taxation." He accordingly approved the principle of a progressive inheritance tax, increasing to perhaps 25 per cent in the case of distant relatives.
While advocating social reforms and castigating wrong-doers at home, Mr. Roosevelt was equally severe in dealing with Latin-American states which failed to discharge their obligations to other countries faithfully. In his message of December, 1905, he said: "We must make it evident that we do not intend to permit the Monroe doctrine to be used by any nation on this continent as a shield to protect it from the consequences of its own misdeeds against foreign nations. If a republic to the south of us commits a tort against a foreign nation, such as an outrage against a citizen of that nation, then the Monroe doctrine does not force us to interfere to prevent the punishment of the tort, save to see that the punishment does not assume the form of territorial occupation in any shape. The case is more difficult when it refers to a contractual obligation.... The country would certainly decline to go to war to prevent a foreign government from collecting a just debt; on the other hand it is very inadvisable to permit any foreign power to take possession, even temporarily, of the custom houses of an American republic in order to enforce the payment of its obligations; for such a temporary occupation might turn into a permanent occupation. The only escape from these alternatives may at any time be that we must ourselves undertake to bring about some arrangement by which so much as possible of a just obligation shall be paid."
Mr. Roosevelt's messages and various activities while he was serving the unexpired term of President McKinley upset all of the conservative traditions of the executive office. He intervened, without power, in the anthracite coal strike of 1902, and had the satisfaction of seeing the miners make substantial gains at the hands of a commission appointed by himself, to which the contestants had agreed to submit the issues. He began a prosecution of the Northern Securities Company at a time when such actions against great combinations of capital were unfashionable. He forced an investigation of the post-office administration in 1903, which revealed frauds of huge dimensions; and he gave the administration of public lands a turning over which led to the successful criminal prosecution of two United States Senators. Citizens acquired the habit of looking to the headlines of the morning paper for some new and startling activity on the part of the President. Politicians of the old school in both parties, who had been used to settling difficulties by quiet conferences within the "organization," stood aghast. They did not like Mr. Roosevelt's methods which they characterized as "erratic"; but the death of Mr. Hanna in February, 1904, took away the only forceful leader who might have consolidated the opposition within Republican ranks.
The Campaign of 1904
Nevertheless the rumor was vigorously circulated that Mr. Roosevelt was violently opposed by "Wall Street and the Trusts." Whatever may have been the source of this rumor it only enhanced the President's popularity. In December, 1903, Senator O. H. Platt wrote: "I do not know how much importance to attach to the current opposition to Roosevelt by what are called the 'corporate and money influences' in New York.... There is a great deal said about it, as if it were widespread and violent. I know that it does not include the whole of that class of people, because I know many bankers and capitalists, railroad and business men who are his strong, good friends, and they are not among the smaller and weaker parties, either.... Now it is a great mistake for capitalistic interests to oppose Roosevelt.... I think he will be nominated by acclamation, so what is to be gained by the Wall Street contingent and the railroad interests in this seeming opposition to him?... There is no Republican in the United States who can be elected except Roosevelt.... He is going to be the people's candidate, not the candidate of the trusts or of the hoodlums, but of the conservative elements."
The Republican convention in 1904 was uneventful beyond measure. Though Mr. Roosevelt was disliked by many members of his party, his nomination was unavoidable, and even his opponents abstained from any word or deed that might have disturbed the concord of the occasion. The management of the convention was principally in the hands of the men from whom Mr. Roosevelt afterward broke and stigmatized as "reactionary." Mr. Elihu Root was temporary chairman, Mr. Joseph G. Cannon was permanent chairman, Mr. Henry Cabot Lodge was chairman of the committee on resolutions which reported the platform, Mr. W. M. Crane and Mr. Boies Penrose were selected as members of the national committee from their respective states, and Mr. Frank S. Black, of New York, made the speech nominating Mr. Roosevelt. Throughout, the proceedings were harmonious; the platform and the nomination were accepted vociferously without a dissenting vote.