Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-12-20
Utility OF SUPERVISION.
p.,.v Of Hearings and lnYsstl6a-
tion Of Cases.
,ur NEW Yonx srocK MARKET
.,..,.,,op ut tho Treasury pepnrt
msut Of che Events OF
Yesterday.

w,sur.oToS, ID. g., Dec. i0.-The
annual report OF tIs interstate com
,o.,os commission Gays experience
Al. established the importance Of thn
,n,,r.iato law and intensified It's neces'
,l,v and the very respects Ia which the
l.v has failed to meet public expecta'
,lop, demonstrate the utility OF govern
nan, ,urervision. IL IL not too much
,nry that judicial Interpretation has
limited the meaning Of the law and
,.ef,bed toll an intent not contemplated
,nen II was passed, but the OBJECT OF
these decisions arc greatly exagger'
a,ed.
The work OF tho commission
4, set forth Mt length includ.
irs the Interesting statement that
,hsre ATE on file with tho commission
s,n000 tarifT schedules; also ~ review
oi Inc hearings and invest cations and
ea,p, disposed Of. The report says thc
character Of tho proceedings before Tue
Commission indicates that the main
CAUSES Of complaint arieo from discrim.
nation and preferoHco In rates anu
facilities aud not from rates In thom-.
,elyes. Cnder tho head OF PRO
ceedlBgs in Court" the late opinion OF
Justice Brewer In tho court Of ap-
peals deciding the long and short haul
ease IL discussed, and the dictum "
the opinion oil the total Joint rate
Of two roads 10 over an lndcpend.
,ut line from lines formed by either
road, and IA not to he considered IN
telermi ing the local rate OF either
road, and therefore may be even less
than intermediate or local rats Ia
shown to be without foundation. To
urolect intermediate localities and In
teres's from the disastrous effects OF
this judicial interpretation, Congress
AaskeI 90 take such immediate action
~ will give legislative oonslruc elton 10
TIE word "Iincv In the statute. Sew
erAl amendments recommended by tho
commission for the purpose OF strength
enng the law are discussed, especially
ihoso growing out of the late DECISIONS
Of the Supreme Court and Judge
Uresham's decision that Congress can.
not constitutisnally require federal
the production OF testimony before u
nonJadiclal tribunal. Regarding the
proposed amendment by which pooling
shall bo permitted, the report sage:
"rhe attempt to secure the public
from discrimination, eKtortion, favor.
ilism, eie., Is tho very essence and
purpose OF the law, and II would be
vain 10 protect carriers from compc'
ulivo attacks upon each other " tbs
general public cannot be protected
from the greater evils above mon.
l0nod."
nTuATIoN OF THE stool; MARKET.
The treasury department was kept
fully and promptly advised OF the prog
itfs OF thu ftock market In New York
today, anu Secretary Foster was iu
conference with his assistants several
times upon the situation. After the
department. closed, Assistant Secre-
taflea Gear and Lamber,sOn gathered
IA ,hs Secretary's room anu discussed
the even's OF the Day. The secretary
taid In answer TO u question bnsed on
the report printed la New York, that
be was much excited over the matter
and intended to 40 to New York and
consult Now York bankers:
~ am not going to New York to
confer with bankers or any ono elHe
about the financial situation. The
idea had not previously occurred 10
mt. AZ to the gold In the treasury"
continued the secretary, two are all
Right. Last month's exports from this
country amounted to $1,000, 1000, but
tho treasury lost half u million
only. The reserve limit IL
fixed ut sl00,0OO,0OO, and l have
sgi,OOO,000 more than that. The
Resources Of the country are greater
ind more varied than most people
know, and the money paid the treasury
for the gold can DO used for replacing,
the amount sold. Money IL needed
West aud South TO buy grain, provls.
Ions and cotton, and II can save o
man five or six hundred dollars on a
million he does not stop Mt giving me
gold In New York for currency laiu
u0wn for him wherever he wants II,
II they get us down In this matter, II
VIII only bc after long fight and q
hard 0ne. II not for the scarcity thai
seems inevitable In connection with
The shipments OF gold abroad, II would
not be such bad thing after all. The
balance Of trade Ia in our favor Mt tn,
rate OF $40, 100000 "a month, and tn,
gold will certainly find Its way baci.
mere. Last month We shipped NOR,
proyialons abroad than ever before
and believe the showing for Decem
yer viii be IN good. We have nearly
sOOO,OOO,0 900 OF gold IN the United
States. IL 5000, 900, 900 were TO 10 on
would result In the reduction OF GU
public debt TO that extent, with tn,
accompanying saving OF Interest on tina
amount. ! am not ut all uneasy 10
gaiding the situation"
Then the Secretary aud Mr.. Cou
leli TO exchanging observations on ia,
prosperous condition OF the country, n
shown In purely agricultural portions
notably Iowa, Governor Gear's owl
SUITE. With these consoling reflection
,frsh In their minds, the Secretary an,
ms assistant separated, the former reit
ersling his statement that he intende,
10 manage the affairs OF the depart
inent hs the active head until his tern
expired, ana had no doubt OF hi
aoiiity to maintain Mt Its present figur
the gold reserve la the treasury,