The Havre herald. [volume] (Havre, Mont.) 1904-1908, 1907-12-06

extension Of parcels post, especially
on rural routes, as means of protec-
ton for the farmer and the country
storekeeper.
In the matter Of extending federal
supervision over interstate commerce
the president advises either ma
tional incorporation act or 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
it's Judgment it is necessary, to make
a 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
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 a law should be a
method of predetermining by some
federal board or commission whether
the applicant for a federal charter was
an association of combination within
the restrictions of the federal law
Provision should also be made Tor
complete publicity in all matters al
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 speclhc
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
hereafter be denied to Interstate cor
porations, unless on approval Dy 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 ana
by the corporation in which such stock
is owned.
"To confer upon the national gov
eminent in connection with the
amendment 1 advocate in the anu
trust law, power of supervision over
big business concerns engaged In IN
terstate commerce would benef1t them
as It has benefited the national banks.
In the recent business crisis 1t Is note
worthy 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.
"The antitrust law should not be
repealed, 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 S3,465,
600, 900 in the past six fiscal years ant
spent 100000, showing ne
excess of, $19O,O00,00O for the period
The present tariff is given credit TO
this showing, and the president de
clares that the principle OF this Law
could not with wisdom be changed
Need of occasional revision OF tn
tariff is advocated, but the presiden
believes that the subject cannot wise
ly be dealt with in the year precec
ing a presidential election. This is a
) assurance that no attempt will b
; made to revise the tariff this year.
/ On the subject of presidential can
paign expenses the president urge
/ the corporations shall be prevente
(, from contributing to the election {
+ any candidate He advocates the RAJ
ical method of DrOyiding a national al