We need a Teddy Roosevelt

By Tom Hintgen (Contact) | The Daily Journal

Published Monday, September 22, 2008

In light of recent activities on Wall Street, and in response to unscrupulous activities, many Americans feel that whoever becomes president should emulate the workings of President Theodore (Teddy) Roosevelt who served a century ago.

Trust-busting was not a term that Roosevelt favored. As a Republican, he believed that corporations needed to be regulated, not destroyed. Many of his big business critics, however, failed to note the difference.

A conservative by nature, Roosevelt was progressive in the way he addressed the nation's problems. The former North Dakota rancher firmly believed that the President of the United States should take the lead in proposing initiatives that would be to the overall benefit of the nation and its people.

In 1903 Roosevelt persuaded Congress to establish a new cabinet-level department — Commerce and Labor — to increase the federal government’s supervision of interstate commerce and to monitor labor relations. Roosevelt succeeded, despite opposition from big business.

Commerce and Labor later were separated into independent departments, in 1913.

During his second State of the Union address, in 1903, Roosevelt said, “We are not attacking the corporations, but endeavoring to do away with any evil in them. We are not hostile to them. We are merely determined that they shall be so handled as to serve the public good. We draw the line against misconduct, not against wealth.”

Roosevelt had emerged from the Spanish-American War a national hero. His military fame enhanced his reputation as a reform politician in his home state of New York, where he was elected governor in 1898 and later became vice President for William McKinley.

The post-Civil War industrial revolution had generated enormous wealth and power for the men who controlled business and capital. Regulating the business trusts to foster fair competition became one of Roosevelt's primary concerns as president, following McKinley’s assassination in 1901.

The railroads, labor and food industry all came under Roosevelt’s scrutiny. Although the regulations he implemented were modest by today's standards, collectively they were a significant first step during an era prior to warning labels.

A national emergency was averted in 1902 when Roosevelt found a compromise to a coal strike. The strike by the United Mine Workers of America threatened the heating supplies of many American homes.

Roosevelt called the mine owners and labor leaders to the White House and negotiated a compromise. Miners, who had been on strike for 163 days, were granted a pay increase and a nine-hour day — down from the previous 10 hours.

A Bureau of Corporations was established by Roosevelt to find violations under the existing antitrust legislation. The bureau investigated the activities of the meatpacking, oil, steel and tobacco industries.

Roosevelt instructed his attorney general, Philander C. Knox, to launch a series of lawsuits against those who his administration deemed were in violation of the law. Teddy took on giants such as J.P. Morgan’s Northern Securities Company, John D. Rockefeller’s Standard Oil Trust and James B. Duke’s tobacco trust.

In all, 44 lawsuits were brought during Theodore Roosevelt’s administration. In the end, the benefactors were the United States of America and its citizens.

Tom Hintgen is a repoter for the Daily Journal. His column runs Monday.