The Wreck; An Historical And a Critical Study of the Administrations of Theodore Roosevelt And of William Howard Taft

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I have no knowledge of any moral ground for attack on the company." But the hero of San Juan Hill seems not to have been in a fighting mood just then.
He swallowed Mr. Perkins ' threat and per- mitted him to have his own way in the mat- ter.
66 ROOSEVELT IN THE SADDLE And now we have an exhibition of the ease with which a bureau official, in further- ance of a President's policy, overturns an act of Congress : "I believe that industrial combination is an economic necessity; that the Sherman law
..., as interpreted by the Supreme Court, is an economic absurdity and is impossible of general enforcement and, even if partially enforced, will, in most cases, work only evil. I believe the principle it repre- sents must ultimately be abandoned; that combination must be allowed and then regulated." Every monopolist in the country will agree with Mr. Smith that the Sherman law is "an economic absurdity" and that "com- bination must be allowed and then regu- lated." In the light of their experience un- der Eoosevelt what would they have to fear from "regulation"?

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