The Farmville herald. [volume] (Farmville, Va.) 1890-1934, 1907-12-06

stockholders. DOtn 10y the vil''4"'i''
owning such stock and 10y the corpora
tlon I'm which such stock is owned.
LESSONS OF RECENT CRISIS.
To confer upon the national govern /
ment I'm connection with the amend |
ment I advocate in the antitrust law
mower Of supervision over big business
concerns engaged I'm Interstate com
merce would benefit them as 1T has
benefited the national banks. IN lhe
recent business crisis It is noteworthy
that the institutions which failed were
institutions which were not under the
supervision and control OF the nationai
government Those which were under
national control stood the test.
National control Of the kind above
advocated would be TO the benefit oi
every well managed railway. From
the standpoint Of the public there Is
need for additional tracks. additional
terminals and improvements in the ac-
tual handling Of the railroads ANA an
this as rapidly as possible. Ample
safe and speedy transportation iaclli
ties are even more necessary thah
CHEAP transportation. Therefore theIe
is need for the investment OF money
which will provide for all these Things
while at the same time securing as iar
as is POSSIBLE better wages and shorter
hours for their employees. Therefore
while there must be just aud reasona-
bile regulation of rates. We should Dee
the first 10 protest against any arhllIa-
rv and mthinklng movement 10 cut
them down without the fullest and
most careful consideration of ail inter
ests concerned and of the actual needs
of the situation only special body
of men acting for the national govern.
ment under authority conferred upon il
by the congress is competent 20 pass
Judgment on such a matter.
p Those who fear from any reason the
} extension Of federal activity viii do
, well 10 study the history not only OF
p tbe national banking act but oi ihe
Z pure food law. and notably the meat
a INSPECTION law recently enacted. The
S nure food law was opposed so violent
s. iv that It's passage was delayed for q
b decade. vet # has worked unmlxed and
immediate good. The meat Inspection
D law was even more violently assailed
- and the same men who now den"uhc'
j. fine attitude Of the national govern
n meut ln seeking 10 oversee and contro
+ the workings of interstate common car
riers and business concerns theh rs
ID serted that we were "discreditine an'
% running q great American Industry.
e. Two vears have not elapsed, and al
II reodv il has become evident That th'
@ great benefit the law confers upon th'
d public IS accompanied 10y an equal ben
/. eft 10 the reputable packing establish
E. ments The latter are better on undr
j. ihe law than they were without 10
d The benefit 10 interstate common ear
Al riers and business concerns from th
- legislation I advocate would Dee equal
a ly marked.
r.. PURE FOOD LAW.
To Incidentally I'm the passage OF IN
D. nure food law the action Of the var
" ons state food and dairy commission
le ers showed I'm striking fashion ho'
IN much good FOR t. whole people result
IA from the hearty cooperation Of th
p. federal and state officials in securln
a q given reform. II Is primarily 10 Oh
liz action Of these state commissioner
m that We owe the enactment OF obi
II. law. for they aroused the people mrs
M to demand the enactment ANA enforce
H. ment Of state laws on the subject an
M then the enactment of the federal law
~ without which the state laws WEI
largely ineffective. There must be tl
closest cooperation between the ni
tlonal and state governments 10 a'
mlnistering these laws.
- CURRENCY LEGISLATlON NEEl
ED.
~ again urge on the congress ti
e.. need Of immediate attention 10 th
90 matter We need greater elasiicl'
~ I'm our currency. provided Of cour
49, that we recognize the even efeai'
~ need Of a safe and secure currenc
80 Provision should be made for
N, emergency currency. The emergen'
~ issue should Of course be made VII
~. an effective guarantee and upon con'
80 tions carefully prescribed 10y the go
go ernment. Such emergency issue mu
of be based on adequate securities q
or proved boy the government and must
10 issued under heavy tax. This won
~. nermit currency being issued when q
~, demand for II was urgent. while secu
10, ing its retirement as the demand II
~, onf II IS worth investigating to d
49, termine whether officers and dirccto
Of national banks should ever he
ot lowed To loan 10 themselves. Iu
bv companies should be subject 10 Z
rr. same supervision MS banks Legis
NJ ton 10 this effect should be enacted
,n. the District Of Columbia and the Il
ro- rltories
Yet we must also remember Il
,n even the wisest legislation on the 81
~ iect can only accomplish cert'
-. amount. No legislation can by q
,it | possibility guarantee lhe ""'i''''
ro. munity against the results Of specu
tive folly any more than It can guar
tee an Individual against the results
his extravaganza. When an individl
ar mortgages his house TO buy am au
ale mobile he invites disaster, and WI
T"' wealthy men or men who pose as su
wi or are unscrupulously or foolishiy eai
pms TO become such indulge in reckl
'nu speculation. especially if it is acco
re panied by dishonesty. they leopard
a O not only their own future, hut the
t,r ure Of an their innocent fellow q
.r, zens. for they expose the whole hl
b a ness community 10 panic and distre'
OF CAN'T REVISE TARIFF NoW
Of This country is definitely commit
also 10 the protective system. ana any