But we must keep steadily in mind that no people were ever yet benefited by riches if their prosperity corrupted their virtue. - Theodore Roosevelt

The mechanism of modern business is so delicate that extreme care must be taken not to interfere with it in a spirit of rashness or ignorance. Many of those who have made it their vocation to denounce the great industrial combinations which are popularly, although with technical inaccuracy, known as "trusts," appeal especially to hatred and fear. These are precisely the two emotions, particularly when combined with ignorance, which unfit men for the exercise of cool and steady judgment. In facing new industrial conditions, the whole history of the world shows that legislation will generally be both unwise and ineffective unless undertaken after calm inquiry and with sober self-restraint. [...] All this is true; and yet it is also true that there are real and grave evils, one of the chief being over-capitalization because of its many baleful consequences; and a resolute and practical effort must be made to correct these evils. There is a widespread conviction in the minds of the American people that the great corporations known as trusts are in certain of their features and tendencies hurtful to the general welfare. This [...] is based upon sincere conviction that combination and concentration should be, not prohibited, but supervised and within reasonable limits controlled; and in my judgment this conviction is right.

As a result of our wrong thinking and supineness, we American citizens tend to breed a mass of men whose interests in governmental matters are often adverse to ours, who are thoroughly drilled, thoroughly organized, who make their livelihood out of politics, and who frequently make their livelihood out of bad politics.

Our nation was founded to perpetuate democratic principles. These principles are that each man is to be treated on his worth as a man without regard to the land from which his forefathers came and without regard to the creed which he professes. If the United States proves false to these principles of civil and religious liberty, it will have inflicted the greatest blow on the system of free popular government that has ever been inflicted. Here we have had a virgin continent on which to try the experiment of making out of divers race stocks a new nation and of treating all the citizens of that nation in such a fashion as to preserve them equality of opportunity in industrial, civil, and political life. Our duty is to secure each man against any injustice by his fellows.