The Montgomery advertiser., 1904-12-29

saying that the relations of the faruf- CTS and the farm hands are always in : terested in each other, and mutual ss- teem. often ripening into affection, insures not only peace. but good will.
 
 sTDE-TRACKrNG THE sTATEs.
 In recent letter in The New York Times, MT. John E. Parsons. in com. menting on Commissioner Garfleld's re- port as to controlling corporations, said:
 I have been brought up in | school which recognizes that the originai source of power is In the States; that the Federal Government is limited to fit to confer or shall see fit to confer upon 1t.
 I am for State rights and cannot view without alarm any system the the States that which more particularly belongs to them. and to transfer the authority to the Federal Government.
 An answer made to this. of course, is merce. under the Constitution, belonrs to the general Government. But IL iu my mind. Is far cry from that article of the Constitution to a scheme which, uHuCT any contingency, makes IL neC~ essary for a local corporation to obtain It's life from Federal authority. N
 When the vast size of the country, its numerous interests, ite increasine population. m are taken into account. the vantage of local. as against general, scrutiny and control
 The New York Times says:
 Mir. Parsons has confidence in the ability of the State governments to protect the people against the depre. dations Of the trusts. We confess that that confidence Is shared by ourselves. At least, before resorting to the Fed eral power. the resources of the state power would be more thoroughly ex. amined. The power of the people sx- ercised through the State Lesislatures cient. The fact that the trusts are comparatively new thing, the fact that in certain States the charter. giy- ing power has been prostituted for the the Jurisprudence of the States shows as yet marked want of uniformity. need not throw us into such state of alarm that we must rush to Washing assumption that the people will not use the powers they undoubtedly possess to protect themselves against fraud, ex- tortion. and injury must rest upon one VI tWO tdCto-CItHST LndI the WTOnKS complained of are not serious enough to be much felt by the people, or else that the people are fools. The States have found way of regulating and controlling interstate business--the insurance business. for instance. They have not as yet exhausted either their powers or the resources of their law makers in dealing with interstate cor porations
 Persons with habits of observation and with memories have no such be- lief in the superior intelligence and vir- tue of Congress as compared with the legislatures of the various States that they are ready to follow the President in his program of centralization. Con- gress has already tried its hand on an incorporation law-that enacted for the District of Columbia. We are inform ed that no State has looser or more defective law, and that the mere fact Of incorporation in the District Is suf- fcfent to put investors on their guard and to render the sale of securities uri- der Its charters diff1cult. There Is noth- ing in our experience so far to justify either the belief that the States will never be able to devise adequate means of regulation and control of corpora tions. or that If we divested them of their rights and lodged the controli- ing power in Washington we should find all our problems solved