The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-25

| and amendments. explained the necessity
OF the latter in the general public demand
th9t the granting of the corporate fran
chises should not be left to the determi-
| nation Of the Governor and his Council.
Corporations were needed in Porto Rico.
and the test Of their fitness. Mr.. Cocper
said. was the fact that they we're for the
benefit Of the island
Mr.. Cooper said the proposition to give
to council OF eleven appointed BY the
President, only FIVE OF whom may be resi-
dents OF Porto Rico. the absolute d,sposi-
ton OF the property rights of the island
was against all public policy. The fran
chises to be granted We're to be the most
valuable property in the island in the fu-
ture. No state In the Union would agree
to such proposition for a minute Mr.
Cooper dwelt upon the necessity Of re-
straining corporations and Of regulating
them by prohibiting them from issuing
stock or bonds except for cash. Men ap-
pointed to Offices were often shallow and
frequently corrupt They should not be
given great personal and arbitrary power.
Watered stock and the other evils Of cor
porations in this country should be avoided
as we were entering upon the government
of Porto Rico.
W. A. Smith Of Michigan said much mis-
formation was disseminated over the
country regarding the expectation Of
liquors to the Philippine Islands. Cuba,
and Porto Rico from the United States.
Mr.. HiIps objection.
The amendments were vigorously COM
bated by Mr. Hill He objected to the
first on solitical grounds; to the second
on economic grounds. The President of
the United States had enough to attend to
now, without being burdened with the eX-
animation Of franchises in Porto Rico. and
the imposition OF It upon the Executive, in
his opinion, was bound TO result in scan
dals for which he was in no wise respou-
sible and which he could not control.
Provisions in the second amendment,
Mr.. Hill said, would interfere with the
management OF business. and were re-
Election upon the business men of the
United States
Il am not one Of those" he said, who
believe that the business men Of this
country are a set Of sharpers and scoun-
drels going to Porto Rico TO rob the peo-
pie there. They are entitled to confidence
even in the House of Representatives.
IF Charles II. Allen. is not competent
to pass upon whether a certain company
shall receive an electric railroad franchise.
think the President should remove him
and send some one else there"
Mr.. Hill declared that he had no interest.
past. present or remote. in any enterprise
in Porto Rico. He had been there and had
seen all he desired to see. He thought the
amendment which would prohibit banks Of
issue in the island was too drastic. The
Spanish Bank now enjoyed that privilege.
Perhaps it should be taken away. but it
should be done by adjustment. not by law
Mr.. Hill denounced the senseless insinua-
tions against corporations desiring to DO
business in Porto Rico"
The passage of the resolution was advo-
Gated by Messrs. Jones of Virginia, J. r
Williams Of Illinois. Ridg.way Of Kansas,
Gaines of Tennessee. and Maddox Of GeOr-
Cooper.
The joint resolution and amendments were
then agreed to- with the single negative
vote Of Mr. Hill