Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1906-12-10

spirit oy disinterested hodv ronra
the federal governments snoh
's would be provided by a commission
Oh Cancellation and arhitratto, ,,-o,,,s
,end 10 create an atmosphere of friend
mess and Cancellation between con-
tending parties.
Control OF Corporations.
IL cannot too often be reneatod +b.+
experience has conclusiyely shown tna
of securing by the actions
VI nearly half hundred different STATE
legislatures anything but Ineffective
chaos III the way of dealing with the
great corporations which do not omar
ATE exclusively within the limits of
any one state. In some method. wheth-
er by national license law or in otbar
iaslion' we must exercise, and that at
an early date, far more comnlete
cohtrol than at present over these great
corporations-a control that will. among
other things, prevent the evils of ex-
cesslVe oyercapitalization and that will
compel the disclosure by each big cor
pofatlon OF Its stockholders and of its
properties and business, whether own
ed directly or through subsidiary or
animated corporations. This will tend
TO put stop to the securing of inor-
dlnate profits by favored individuals at
The expense whether of the general
public, the stockholders or the wage
workers. Our effort should be not so
much to prevent consolidation as such,
but so to supervise and control it as
to see that it results in no harm to the
people,
combination of capital, like combina-
ton of labor, is necessary element of
our present industrial system. 1t is
| not possible completely to prevent it.
ana II It were possible such complete
prevention would do damage to the
body polite. What we need is not
vainly to try to prevent all combina-
| ton, but TO secure such rigorous and
adequate control and supervision of
| the combinations as to prevent their
form as inevitably to threaten injury,
for the mere fact that combination
has secured practically complete con-
troll of necessary of life would under
any circumstances show that such
combination was to be presumed to be
adverse TO the public interest, It Is
unfortunate that our present laws
should forbid all combinations instead
Of sharply discriminating between
those combinations which dc geed and
those combinations which do evil. Re-
bates, for ins.ance, are as often due to
the pressure of big shippers (as was
shown III the Investigation Of the
Standard Oil company and as has been
shown since by the investigation of
the tobacco and sugar trusts as to the
initiative Of big railroads. Often rail
. roads would like to combine for the
purpose of preventing a big shipper
from maintaining improper advantage;
at the expense of small shippers ant
of the general public. Such combina
ton, instead of being forbidden by law
should be favored. In other words, i
should be permitted to railroads t.
make agreements, provided these agree
ments were sanctioned by the inter
state commerce commission and wer,
published. With these two condition:
complied with it is impossible to SEE
what harm such a combination could
do to the public at large.
Inheritance and Income Tax.
The national government has Ions
derived its chief revenue from tariff
on imports and from an internal or eK
| az Tn, 70
every reason why, when next our sys
tenn of taxation is revised, the nationa
government should impose a graduated
Inheritance tax and, if possible, grad
uated income tax.
am we'll aware that such subjec
as this needs long and careful study II
order that the people may become "a
miliar with what is proposed to be
done, may clearly see the necessity Of
proceeding with wisdom and self re
straint and may make up their minds
lust how far they are willing to go II
the matter, while only trained leglsia
tors can work out the project III neces
sarv detail. But I feel that in the neal
future our national legislators should
| enact law providing for graduated
inheritance tax by which steadily ID
creasing rate Of duty should be pu
upon all moneys or other valuable'
, coming by gift, bequest or devise tt
, any individual or corporation. There
, can be no question of the ethical pro
prietv of the government thus deter
mining the conditions upon which an
Gift or Inheritance should be received.
AS the law now stands it is undouDt
edly difficult to devise a national IN
: come tax which shall be constitutional
Rrt whether it is absolutely Impossible
is another question, and If possible
is most certainly desirable. Ihe mrs
nurely income tax law was passed "
! tba congress in 1861, but the most III
|. nortant law dealing with the suDJec
was that of 1894. This the court heie
RI he unconstitutional.
The question is undoubtedly very IN
tricate. delicate and troublesome. Ihs
,:-:o,, IF fno court was only fedcuSt