The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-04

federal law Provision should also be
made for complete publicity in all mat
tiers affecting the public and complete
protection to the investing public and the
shareholders in the matter of issuing cor
porate securities. If an Incorporation law
is not deemed advisa bic, a license act
for big interstate corporations might De
enacted; or a combination of the two
might be tried. The supervision estab-
lished might be analogous to that now
exercised over national banks. At least,
the antitrust act should be supplemented
by specific prohibitions of the methods
which experience has shown have been
of most service in enabling monopohstlc
combinations to crush out competition:
The real owners of a corporation should
be compelled to do business in their
own name. The right to hold stock IN
other corporations should hereafter be
denied to interstate corporations, unless
on approval by the proper government
officials, and a prerequisite to such ap-
prevail should be the listing with the gov
eminent of all owners and STOCKHOLDERS,
both by the corporation owning such stock
and by the corporation in which such
stock is owned.
National Control Advocated.
To confer upon the national govern
ment In connection with the amendment l
advocate in the antitrust law, power or
supervision over big business concerns en-
gagged in interstate commerce, would ben
eft them as il has benefited the national
DdDkS. III the IeCeDL UuSlilGSS tItSlo II -
noteworthy that the institutions which
failed were Institutions which were not
under the supervision and control of the
national government. Those which were
under national control stood the test.
National control of the kind above adj
vOcated would be to the benefit of every
well-managed railway. From the stand
point of the public there is need for ad-
ditOnal tracks, additional terminals, ard
improvements in the actual handling of
the railroads. and all this as rapidly s
possible. Ample. safe and speedy trans
pOrtation facilities are even more neces-
sary than cheap transportation. There
fore. there is need for the investment of
money which will provide for all these
things while at the same time securing Is
far as possible better wages and shorter
hours for their employees. Therefore,
while there must be just and reasonable
regulation of rates, we should be the
first to protest against any arbitrary
and unthinking movement to cut them
down without the fullest and most care
full consideration of all interests concerned
and of the actual needs of the situation.
Only a special body of men acting for
the national government under author
ity conferred upon it by the congress is
competent to pass judgment on such
matter
Benefits of other Laws.
Those who fear. from any reason, the
extension of federal activity, will do well
to study the history not only of the ma
tionaI banking act, but of the pure food
law. and notably the meat inspection
law recently enacted. The pure food law
was opposed so violently that its passage
was delayed for a decade vet it has
worked unmiNed and immediate good
| The meat Inspection law was even more
violently assailed; and the same men who
now denOunce the attitude of the ma
tional government in seeking to oversee
and control the workings of interstate
common carriers and business concerns,
then asserted that we were ''discrediting
and running a great American industry
Two years have not elapsed, and already
il has become evident that the great
benefit the law ConfeTs upon the public is
accompanied by an equal benefit to the
reputable packing establishments. The
latter are better off under the law than
they We're without it. The benefit to in
terstate common carriers and business
concerns from the legislation l advocate
would be equally marked.
Pure Food Law.
incidentally. in the passage of the pure
food law the action of the various state
striking fashion how much good for the
whole people results from the hearty CO.
operation of the federal and state officials
in securing given reform. 1t is primar-
lily to the action of these state commits
sioners that we owe the enactment of this
law; for they aroused the people, first to
demand the enactment and enforcement
of state laws on the subject. and then
the enactment of the federal law, without
, which the state laws we're largely inef-
! fective. There must be the closest CO.
operation between the national and state
governments in administering these laws