Troy weekly news. (Troy, Idaho) 1897-1933, 1907-12-06

De SUBJECT 10 tHe same supervision as
banks"
Favorable consideration of a postal
savings bank is urged as an encour-
agement to economy and thrift and to
prevent boarding of money. The pres
ent time is cited as an instance in
t which the postal savings bank would
be a mighty factor in keeping funds
in active circulation.
: The president also recommends the
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 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
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 well to recognize that this control
must come; the only question is as to
what governmental body can most
wisely exercise 1t. The courts will
determine the limits within which the &
federal authority can exercise it. and I
there will still remain ample work a
within each state for the railway COM e
of that state; and the national d
interstate commerce commission will
work in harmony with the several I
state commissions, each within its v
own province, to achieve the desired v
end. a
The congress has the power TO G.
charter corporations to engage in in
erstate and foreign commerce. and il
general law can be enacted under cl
he provisions of which existing cor el
could take out federal char Ia
ers and new federal corporations
ould be created. An essential pro- W
lsion of such a law should be re
lethod of predetermining by some re
aderal board or commission whether ii,
ne applicant for federal charter was dr.
II association of combination within
he restrictions of the federal law fe
revision should also be made for of
omplete publicity in all matters af te
'cting the public and complete pro-
'ction to the investing public and ST;
lie shareholders in the matter of issu- fal
. Oolporate securities. The super So
sion established might be analogous de
that now exercised over national
INKS. AT least, the antitrust act tn,
ould be supplemented by specific an
ohiDltons of the methods which ex-
rience has shown have been of most ella
rVlce In enabling monopolistic COM
nations to crush out connection of
lie real owners of a corporation ON
ould be compelled to do business in vas
eir own name. The right to hold of
'cK IN other corporations should ers
reaiter be denied to interstate cor A
ratlons, unless on approval by the fer,
'pei government otlcials, and pre- inc
Iuisite to such approval should he Il
is'ins Win tne government of all tior
hers and stockholders, both by the the
poration owning such stock and elias
the corporation in which such stock G
owned ,,S,
10 confer upon the national gov nee
ment, in connection with the and
endment l advocate in the anti. mer
81 law, power of supervision over n
business concerns engaged in in can,
'tate commerce would benefit them Cub
II has benefited the national banks eacl
ne recent business crisis IL is note nr..e
'thy that the institutions which p,
ed We're institutions which were este
under the supervision and control sour
81, Aai government. Those is NJ
cn were under national control RI
Tha $50, 49,. grow
ne antitrust law should NOT ba nuIr
saied' but it should be made moro r.
ient and more in harmony with dire,
TAI conditions. 1t should not nro- ter;o
70 tbe n"SI,n .nat DO no injus- ing
fence OF which is on the whole . Land,
no meow r1D''O ment
Pronounced l., Vi 'ne nation coal
iitloh' Exclusive of postal husi. O.
the government collected 81 4es
'VV IN the past six fiscal years and r..,