The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1907-12-06

extension of q parcels post, especially
on rural routes, as q means of protec.
ton for tho farmer and the country
storekeeper.
In the matter Of extending federal
supervision over interstate commerce
the president advises either a ma.
tional Incorporation act or a law
licensing railway companies to en-.
gage In interstate commerce upon Ger.
tain conditions. The law should be so
framed as to give to the interstate
commerce commission power to pass
upon the future issue of securities,
while ample means should be provided
to enable the commission. whenever in
its judgment 1t Is necessary. to make
q physical valuation OF any railroad.
Railroads should be given power to
enter into agreements. subject to
these agreements being made public in
minute detail and to the consent of
the interstate commerce commission
being first obtained. The railroads
and all other great corporations will
do we'll to recognize that this control
must come; the only question Is as to
what governmental body can most
wisely exercise it. The courts will
determine the limits within which the
federal authority can exercise it, and
there will still remain ample work
within each state for the railway COM
mission of that state; and the national
interstate commerce commission will
| work in harmony with the several
state commissions, each within its
own province, to achieve the desired
end.
"The congress has the power to
| charter corporations to engage in in
terstate and foreign commerce, and
a general law can be enacted under
the provisions of which existing cor
porations could take out federal char
tiers and new federal corporations
could be created. An essential pro-
vision of such law should be a
method of predetermining by some
federal board or commission whether
the applicant for federal charter was
an association of combination within
the restrictions of the federal law
Provision should also be made for
complete publicity in all matters at
fecting the public and complete pro-
lection to the investing public and
the shareholders in the matter of issu-
ing corporate securities. The super
vision established 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 ex
perience has shown have been of most
service in enabling monopolistic COM
binations 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
porations, unless on approval by the
proper government officials, and pre-
requisite to such approval should be
the listing with the government of all
owners and stockholders, both by the
corporation owning such stock and
by the corporation in which such stock
is owned.
ITO confer upon the national gov
eminent, in connection with the
I advocate in the anti |
trust law, power Of supervision over
big business concerns engaged in in
terstate commerce would benefit them |
as it has benefited the national banks. |
In the recent business crisis it is note
worthy that the institutions which |
failed were institutions which were
not under the supervision and control |
Of the national government. Those
which we're under national control
stood the test.
1.-THE antitrust law should not be
but it should be made more
efficient and more in harmony with
actual conditions. 1t should not pro-
hibit combinations that do no injus-
tice to the public, still less those the
existence of which Is on the whole
benefit to the public"
The income account of the nation
is pronounced in most satisfactory !
condition. Exclusive of postal bust
ness the government collected $3,465,-
900, 900 in the past six fiscal years and
spent $3,275,O 100000, showing net
excess of $19OOOO,OO0 for the period.
The present tariff is given credit for
this showing, and the president de-
clares that the principle of this law
could not with wisdom be changed.
Need of occasional revision of the
tariff is advocated, but the president
believes that the subject cannot WISE
ly be dealt with in the year proceed
ing a presidential election. This is an
that no attempt will be
made to revise the tariff this year.
On the subject of presidential cam
paign expenses the president urges
the corporations shall be prevented
from contributing to the election OF
any candidate. He advocates the rad
ical method of providing national ap-
for each of the great par
ties, sufficient to meet legitimate cam
paign expenses incurred in the elec-
ton of president No party receiv-
ing such appropriation should receive
more than fixed amount from private
these amounts and their