Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1902-02-10

o,,o,,,,s FIRST communication on hnah-
oia1 legislation is contained IN leV'ei
70 Representative Sulzer OF New 1oiN'
noorninp the latter's bill to oe-
nosi+ the government funds at interest
:, national banks throughout Tue
country The letter says:
e1f the surplus money in excess OIL
$40 600, 900 working capital had Oeen
deposited in the clearing house Clues
IN nroportion to the relative capltal VI
ooch hank therein, with no oCnef Sc
curity than prior lien upon. 'he
hanks, assets the government Wouio
have lost nothing and if the govern
ment had realized two per cent upon
funds so deposited it would nave re-
ceived S32,OOO,0 900. Aided IN this way
+ba ranks referred to would have been
able to increase their credit acomnno-
da+ions to the people in the sum Oh
eooo ono OOO This computation was
made at the instance Of my prede-
cessor, one year ago and was paseo
upon the quarterly rather tnan the
daily balances.
81 think some provision for the dc
DOsit of surplus funds belonging to the
United States government with ma
tional banks upon no security oCher
than government bonds would be WISE
though | doubt the limitations as 10
the amount of capita and surplus con-
tanned in Cae bill. | also question the
wisdom of the mandatory provisions OF
the law. On the contrary tnlnK
there should generally be fair latl-
tude or discretion. Authority to act
in a given line is generally sufficient
Propose to Change Commerce Law.
Senator Elkins, chairman of the
Interstate commerce committee yes
terday introduced a bill making a
number of changes in the interstate
commerce law. the most important OF
which are:
Giving the commission authority,
under certain conditions, to fix rail
road rates, legalizing pooling, abolish
ing imprisonment as a method Of
furnishing offenses against the law.
The provision fixing the rates au-
thorizes the commission to hear COM
plants of discrimination made against
common carriers and directs that any
definite order made by the commission
after such hearing, declaring rate,
regulation or practice to be just and
reasonable, shall become operative,
and be observed by the party or
parties against whom it is made, with
in 80 days after notice. Appeal is
authorized to the United States circuit
courts and supreme courts.
The section Of the bill concerning
pooling provides that it shall be law
full for any two or more common car
riers to arrange between and among
themselves for the establishment or
maintenance of rates and also for
such carriers to agree by contract in
writing filed with the interstate COM
merce commission upon a division OF
traffic or earnings or both.
Authority is given to the commits
sion to hear the complaints against
the fairness of pooling and to make,
orders annulling contracts in respects
found unjust and unlawful. Failure
to comply with these orders will work
annulment of the contract Proceed
ings by injunction is authorized
against any party disobeying the pro
visions of the bill and the offending
party is also to be made subject to
penalty of 100000 Where railroads |
pass into a foreign country authority
is given in addition to fines to sus- |
pend the movement of trains within |
the United States until the require |
ment shall be complied with. A fine |
of not less than $1,000 nor more than |
500, 900 is provided for the wilful fail |
ure of any carrier to publish tariff |
rates and charges as required by inter |
state commerce law.
Babcock Asks for Reciprocity.
Representatives Ba5cock and Long, !
of the ways and means committee,
called on the president yesterday and
discussed with him Cuban reciprocity.
1t is stated by republican member
of the committee that there was little
further doubt that the committee
would report some measure of Cuban
reciprocity. Another member ex-
pressed the conviction that the rate of
reduction would be about 20 or Is per
cent Other members of the commit !
tee insist the minds of several mem |
bers are still open and definite concIu- !
sions as to the course of the commit |
tee are not yet warranted.
Judge Noyes Defended.
During the remainder of the day the
urgent deficiency bill was under con-
sideratiOn, the Philippine tariff meas |
ure being laid aside temporarily. Mr.. |
Hansbrough of North Dakota made a |
spirited defense of Judge Arthur H. |
Noyes of the district court of Alaska
and Alexander Mckenzie, upon whom
an attack was made in the senate |
Monday This