Presidential Addresses 



as patriotism, should heartily welcome every effort, 

 legislative or otherwise, which has for its object 

 to secure fair dealing by capital, corporate or in- 

 dividual, toward the public and toward the em- 

 ployee. Such laws as the franchise-tax law in this 

 State, which the Court of Appeals recently unani- 

 mously decided constitutional such a law as that 

 passed in Congress last year for the purpose of 

 establishing a Department of Commerce 'and La- 

 bor, under which there should be a bureau to over- 

 see and secure publicity from the great corporations 

 which do an interstate business such a law as that 

 passed at the same time for the regulation of the 

 great highways of commerce so as to keep these 

 roads clear on fair terms to all producers in get- 

 ting their goods to market these laws are in the 

 interest not merely of the people as a whole, but 

 of the propertied classes. For in no way is the 

 stability of property better assured than by making 

 it patent to our people that property bears its proper 

 share of the burdens of the State; that property is 

 handled not only in the interest of the owner, but 

 in the interest of the whole community. 



In other words, legislation to be permanently 

 good for any class must also be good for the Na- 

 tion as a whole, and legislation which does injus- 

 tice to any class is certain to work harm to the 

 Nation. Take our currency system for example. 

 This Nation is on a gold basis. The treasury of 

 the public is in excellent condition. Never before 

 has the per capita of circulation been as large as 



