The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1904-12-06

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! They are acting in no spirit of hostility
to wealth, either individual or cor
porate. They are not against the rich
man any more than against the poor
man. On the contrary, they are friend
| ly alike toward rich man and toward
poor man, provided only that each acts
| in q spirit of justice and dcCency to-
ward his fellows. Great corporations
| are necessary and only men of great
and singular mental power can man
| age such corporations successfully,
and such men must have great re-
wards. But these corporations should
be managed with due regard to the
interest Of the public rs whole.
Where this can he done under the pres
ent laws it must be done. Where
these laws come short others should
be enacted to supplement them.
BUREAU OF CORPORATIONS.
The bureau of corporations has made
careful preliminary Investigation of
many important corporations. 1t viii
make Il special report on the beef in
dustry.
The policy Of the bureau is to ac-
complish the purposes of its creation
by cooperation. not antagonism; by
making constructive legislation, not
destructive prosecution. the immediate
object of its inquiries; 10y conservative
investigation of law and fact and by
refusal to issue incomplete and hence
necessarily inaccurate reports. Its poi
lev being thus one of open inquiry into
and not attack upon business. the hu-
reau has been able to gain not only the
confidence, bat. better still, the coop
Grafton. Of men engaged in legitimate
business
Thn bureau offers TO the congress
.Ic means of getting at the cost of pro
iuc.ior of our various great staples of
.,..nrro
or necessity the careful investigation
Of special corporations viii afford the
commissioner knowledge of certain
business facts. the publication Of which
might be an improper infringement Of
private rights. The method of making
public the results of these investiga
tons affords, under the law a means
for the protection of private rights.
The congress will have all facts except
such as would give to another cor
poration information which would in
jure the legitimate business of com
petitor and destroy the incentive for
individual superiority and thrift.
The bureau has also made exhaustive
examinations into the legal condition
under which corporate business il car
ried on in the various states, into all
judicial decisions on the subject and
into the various systems of corporate
taxation in use. | call special attention
to the report Of the chief of the bureau,
and | earnestly ask that the congress
carefully consider the report and rec
concentrations OF the commissioner on
this subject
The business OF insurance vitality af-
fects the great mass of the people of
the United States and is national and
not local in its application. It involves
a multitude of transactions among the
people of the different states and be
tween American companies and for
egn governments. | urge that the con
greSs carefully consider whether the
power of the bureau Of corporations
cannot cousttutionully be extended to
cover interstate transactions in insur-
aucc.
REBATES.
Above all else We must strive to keep
the highways of commerce open to all
on equal terms, and to do this it is nee
cssary To put a complete stop to all re
bates Whether the shipper or the rail
road is t. blame makes no difference
The rebate must be stopped, the abuses
Of the private ear and private terminal
track ana side track systems must be
stopped. ana the legislation of the Eff
ty-eighth congress which declares it TO
be unlawful for any person or corpora
liun to offer, grant. give, solicit, accept
or receive any rebate concession or
discrimination in respect of the trans
portation of any property in interstate
or foreign commerce whereby such
property shall by any device whatever
be transported mt Il less rate than that
named I'm the tariffs published by the
carrier must be enforced. While | am
Of the opinion that at present it would
be undesirable if it were not impracti- |
cable finally to clothc the Interstate
commerce commission with general au-
thority to fix railroad rates. do be- |
lieve that as a fair security to ship |
perS the commission should be vested |
with the power where n given rate has |
been challenged and after full hearing |
found to he unreasonable TO decide, sub |
iect to judicial review, what shall he a |
reasonable rate to take its place the |
ruling of the commission to take effect |
Immediately and 10 obtain unless and |
until it is reversed by the court of re- |
view.
Steamship companies engaged in in |
terstatc commerce and protected in our |
coastwiSe trade should be held to |
strict observance of the interstate com |
mprPp act