The free lance. (Fredericksburg, Va.) 1885-1926, 1907-11-05
URGE EXTRA SESSION
The President Seriously Takes
Up the Matter.
FOR A CURRENCY BILL
Finanoiers Urge Mr.. Roosevelt to Call
Extra Session of Congress TO Pass
Legislation For Federal Control of
Corporations.

Washington. d. c.. Nov. At was
learned from undoubted sources that
President Roosevelt is being urged to
call an extra session Of congress to
deal with the financial situation. The
request comes from and represents the
judgment Of the conservative leaders
In the financial world. who have repre-
scented the present situation as one
compelling action Of a character which
will aGirmativcly eradicate all ground
for suspicion OF American industrial
methods.
The president has been assured from
most reliable sources that there will
be no opposition on the part of the
great industries Of the country to the
enactment of the necessary laws TO
carry ont his ideas of federal control
to which he has expounded them in
his recent public utterances.
These assurances are made at this
time to avert what has been repre-
aentod as the most dangerous situation
which has confronted the country dur
4ng an extended historic period-that
is. the seeming growing lack of conf
dence based on known Irregularities
in business methods in some quarters,
ana no sure and speedy means Of sepa-
rating the good from the unsOund.
TO this end it is suggested that the
nra id.nt set congress TO the task.
first. Of making such amendments TO
the financial laws as will result in the
maximum OF debility with the mini
mum OF basic change in our system.
Next. and perhaps most in Importance.
that the president embody his sugges-
ions on corporation control into sus-
einct recommendations for enactment
into law.
In this connection the presidents at
tentlon has been directed to what he
said at Provincetown, Mass, Angus;
20 last.
Il believe in a national Incorporation
law for corporations engaged in inter-
state business. l believe. furthermore,
that the need for action is most press
which. because they are common car
riers. exercise a Quasi-public function.
and which can be completely con-
trolled. IN all respects. by the federal
government by the exercise of the
power conferred upon TIE interstate
commerce clause, ald. if necessary
under the postroaf clause Of the con-
stitutiOn. ... The national gov
eminent shoald exercise over them
similar supervision and control TO that
which is exercised over national banks.
We can do this only by proceeding
farther along the lines marked out by
the recent national legislation.
almost every big business concern
is engaged In interstate commerce, and
such q concern must not be allowed by
a dexterous shifting Of position, as has
been TOO often the ease in the past to
escape thereby all responsibility either
to state OF to nation"
To meet his views the president
then suggested amendments 10 the
sherman antitrust law and the addi-
ton of a criminal clause to that and
the interstate commerce act regula-
tons. The benefit Of having federal
legal machinery 10 detect and eradi-
cate unwholesome business methods at
this time was said to be the desirable
end to be accomplished. This would
mean. Il IS pointed out a practical
wiping on Of the slate and starting
afresh under business conditions
which would have and which could
bear the closest public scrutiny.
That the president has given the re-
quest for an extra session careful con-
sheraton is indicated by those who
have been asked to lend their advice
IN the matter. Failing in obtaining an
extra session. those who have made
the appeal for It have presented an al
Tentative. or an additional request
that the president make public state
ment Of the assurance he feels In the
sound condition of public credit This.
too. has met with a measure of opposi-
ton from the administration advisers.
Both suggestions are still matters Of
consideration. although no informa-
ton whatever IL ohtainable regarding
either directly from the White House.