The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1906-12-04

spirit by dtsin'"Frstsd body repre-
seatIas the federal government such
~ would te provided hy commission
ON Cancellation aud arbitration, would
tend 10 create an atmosphere of frtcad
ilness and Cancellation between COZ
tendins parties
| Control at Corporations.
II csnno, too often he repeated that
experience has concluslvely shown the
impossihility Of securing by the actions
OF nearly half hundred different state
legislatures anything bot Ineffective
chaos In the way OF dealing with the
great corporations which do not opcr
ate exclusively within the limits ui
any Que state In some method. wheth
sr hy national license law or IN other
fashion. we must exercise. and that at
an early date, far more complete
control than az present over these great
corporations control that will, among
other things. preveni the evils Of ex-
cesslye overcapitalizatlon aud that win
compel the disclosure 10y each hig cor
porstlou OF Its stockholders and OF It's
properties aud business whether own
ell directly or through subsidiary or
affiliated corporations This win tend
to put stop To the securing OF lnur-
dinate 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 1t as
to see that II results in no harm TO the
people.
Combinatio n of capital, like combna-
ton OF labor, Is a necessary element OF
our present industrial system It Is
not possible completely to prevent it,
and If ii We're possible such complete
prevention would do damage to the
body polite. What we need is not
valnly TO try to prevent all combna-
ton, but to secure such rigorous and
adequate control and supervision of
the combinations as to prevent their
injuring the public or existing in such
form as inevitably to threaten injury,
for the mere fact that a combination
has secured practically complete con
troll OF n necessary of life would under
any circumstances show that such
combination was to be presumed to be
adverse to the public interest 1t is
unfortunate that our present laws
should forbid all combinations instead
OF sharply discriminating between
those combinations which do good and
those combinations which do evil. Re
bates, for instance, are as often due TO
the pressure OF big shippers (as was
shown in the investigation of the
Standard Oil company ana as has been
shown since by the investigation of
the tobacco and sugar trusts az to the
initiative of big railroads. often rail
roads would like to combine for the
purpose OF preventing big shipper
from maintaining improper advantages
at the expense of small shippers and
of the general public. Such "A combna-
ton, instead OF being forbidden by law
should be favored In other words, II
$ I should be permitted to railroadc tt
q make agreements. provided these agree
$ ments We're sanctioned by the inter
/ state commerce commission and wer
t published with these two condition
t complied WITH it is impossible to SCI
{ what harm s'ich a combination coult
i do to the pul lie at large.
Inheritance and Income Tax.
? The national government has long
derived its chief revenue from Il tarih
; on imports and from an internal or eX-
, else tax. In addition to these. there is
, every reason why, when next our syS-
tenn OF taxation is revised. the national
government should impose a graduated
Inheritance tax and. if possible. a grad
uated income tax.
am well aware that such subject
: as this needs long ana careful study To-
order that the people may become ia
millar with what is proposed to Dee
done. may clearly see the necessity OF
: proceeding with wisdom and self re-
stralnt and may make up their minds
Just how TAR they are willing To- go Boo
the matter, while only trained lcelslJ-
tors eau work out the project In uyccs-
sary detail HUT / feel that Ia the near
/ future our national Legislators should
euact a law providing for a graduated
4 | inheritance tax los which "A steadily Boo.
creasiug rate - duty should bee put
p upon AN moneys ur other vaIuab.es
+ coming hy gift. bcdueSt or devise to
p any Individual COR corporation There
. can bee uo question % the ethical plH
% pri,ty of tbe government thu, dgtes
5 mining the conditions upon which, luy
sft or inheritance should Dee received
/. A. the laW uow stands It ls uudHuHt
/ sdly dlfirulJ p dry.se q uatuul u
rume taN wh.#h shall hr constitution"
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