Daily press. [volume] (Newport News, Va.) 1896-current, 1907-11-03
(By Associated prcss.)


WASHINGTON, ID. c., Nov, Lit
was learned here today from undoubt-
ed sources that President Roosevelt is
now being urged to call an extra sos
sion of Congress to deal with the fl
1ancial situation. The request comes
from men who represent the judgment
of the conservative leaders in the fl
noncial world. who have represented
the present situation as one COMPEL
ing action of character which will
affirmatively eradicate all ground for
suspicion OF American industrial me-
thods.
The President has been assured
from most reliable sources that there
will lie no opposition on the part of
the great industries of the country
to the enactment of the necessary
laws to carry out his ideas of federal
control TO the extent to which he has
expounded them in his recent public
utterances. These assurances are
made at this time to avert what has
been represented as the most danger
Gus situation which has confronted the
country during an historic period
that is seeming growing lack of conf
dencc, based on unknown Irregularities
in business methods in some quarters.
andino sure and speedy means of sepa-
rating the good from the unsound.
To this end it is suggested that the
President set Congress to the task
first. of making such amendments to
the financial laws as will result in the
maximum fleXibility with the minimum
of basic changes in our system; next.
and most in Importance. that the Presi-
dent embody his suggestions on cor
poration control into succnct recon-
mendations for enactment into law.
Reminded Of His Own Words.
In this connection the Presidents
attention has been directed to what he
said ut Provincetown. Mass. August
20, last: Il believe in a national incor-
poratlon law for corporations engaged
in interstate business. believe. FUR
thermore, that the need for action is
most pressing as regards those corpo-
rafions which, because they are com
mon carriers, exercise quasi public
function and which can be completely
controlled. in all respects by the fed
eral government, by the exercise OF
the power conferred under the post
road clause of the constitution. The
rational government should exercise
over them similar supervision and
control to that which it exercises over
national hanks We can do this only
by proceeding farther along the lines
marked ont by the recent nationa,
legislation
Almost every big business concern
is engaged in interstate commerce and
such concern must not he allowed
by dexterious shifting of position. as
has Been too often the case in the past
to escape thereby all responsibility
either TO state or nation
To meet his views. the President
then suggested amendments to the
Sherman antitrust law and the addi
tion Of criminal law 10 that end to
the interstate commerce regulations
The benefit OF having federal legal ma
chncry to detect and eradicate un-
wholesome business methods at this
time was said to he the desirable end
to be accomplished. This would mean.
II is pointed out, a practical wiping off
of the slate ami starting afresh under
business conditions which would have
and which could boar the closest pub-
lie scrutiny.
That the President has given the re-
quest for an extra session careful con
sideration is indicated by those who
have been asked TO lend their advice
in the matter. That the information
as to existing conditions is not alarm
ing has been the continuing assurance
which has come from the government.
careful observations
Urged to Make Statement.
Wit hthis in view. the President has
been told that the call for an extra
session of Congress might have the
reverse effect from that desired b,
those who are urging such an action
that IL would tend to emphasize in tho
public mind an apprehension of unfa