The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1906-12-04

instance, two days before the new
law went into erect, the Commission
received notices of over i've thous-
and separate tariffs which represent
ed reductions from previous rates.
1t must not be supposed, however,
that with the passage of these laws
it will be possible to stop progress
along the line of increasing the pow
er of the National Government over
the use of capital in interstate com
merce. For example, there will ul-
timately be need of enlarging the
powers of the Interstate Commerce
Commission along several different
lines, so as to give it a larger and
more efficient control over the rail-
roads.
1t can not too often be repeated
that experience has conclusively
shown the impossibility of securing
by the actions of nearly nalf a hun
dred different State legislatures any
| thing but ineffective chaos in the
way of dealing with the great corpo-
rations which do not operate exclu-
sively within the limits of any
| one State. In some method, wheth-
er by a national icense law or in
| other fashion, we must exercise, and
| that at an early date, a far more com
plete control than at present over
these great corporationsea control
that will among other things prevent
the evils of excessive overcapitaliza-
ton, and that will compel the disclos
ure by each big corporation of it's
stockholders and of its properties
and business, whether owned direct
ly OF thru subsidiary or affiliated cor
porations. This will tend to put a
stop to the securing of inordinate
profits by favored individuals at the
expense whether of the general pub
lie, the stockholders, or the wage
workers. Our effort should be not
sc much to prevent consolidation as
such, but SO to supervise and con-
troll it as to see that it results in no
harm to the people.
inheritance and Income Tax.
The question of taxation is difficult
in any country, but it is especially
difficult in ours with it's Federal sys-
sem of government. Some taxes
should on every ground be levied in
a small district for use in that dis
trict. Thus the taxation of real es-
tate is peculiarly one for the immed-
late locality in which the real estate
is found. Again, there is no more
legitimate tax for any State han a
tax on the franchise conferred by
that State upon street railroads and
similar corporations which operate
wholly within the State boundaries,
sometimes in one and sometimes in
several municipalities or other minor
divisions of the State. But there are
many kinds of taxes which can only
be levied by the General Government
so as to produce the best results,
because, among other reasons, the at
tempt to impose them in one partfcu
lar State too often results merely in
driving the corporation or individual
affected to some other locality or 9th
er State. The National Government
has long derived it's chief revenue
from a tariff on imports and from
an internal or excise tax. In add
ton to these there is every reason
why, when next our system of taxa
ment should impose a graduated in
heritance tax, and, if possible, a grad
uated income tax.
Irrigation and Forest Preservation
Much is now being done for the
States of the Rocky Mountains and
Great Plains thru the development
of the national policy of irrigation
and forest preservation; no Govern
me policy for the betterment of our