Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1907-12-09

sted An essential provision of such q
law should be a method of predeter-
mining " some federal board or COM
mission whether the applicant for a
federal charter was an association or
combination within the restrictions of
the federal law. Provision should also
be made for complete publicity in all
matters affecting the public and COM
plete protection to the investing public
and the shareholders in the matter OF
issuing corporate securities. If all in
corporation law is not deemed advisa-
BILE, a license act for big interstate cor
porations might be enacted or a COM
bination of the two might be tried.
The supervision established might be
analogous to that now exercised over
national banks. At least the anti
trust act should be supplemented by
specific prohibitions of the methods
which experience has shown have been
of most service in enabling monopolis-
tic combinations to crush out competi-
ton.
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 here
after be denied to interstate corpora
lions, unless on approval by the proper
government officials, and prerequisite
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 corpora
ton in which such stock is owned
Lessons of Recent Crisis.
To confer upon the national govern
ment in connection with the amend
ment | advocate in the antitrust law
power OF supervision over big business
concerns engaged in interstate com
MERGE would benefit them as it has
benefited the national banks. In the
recent business crisis it is noteworthy
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
National control of the kind above
advocated would be to the benefit of
every we'll 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. and all
this as rapidly as possible Ample,
safe and speedy transportation facili-
ties are even more necessary than
cheap transportation. Therefore there
is need for the investment of money
which will provide for all these things
while at the same time securing as far
as is possible better wages and shorter
while there must be just and reasona-
BILE regulation Of rates. we should be
the first to protest against any arbitra-
ry and unthinking movement to cut
| them down without the fullest and
most careful consideration of all inter-
ests concerned and of the actual needs
| of the situation. Only a special body
| of men acting for the national govern
ment under authority conferred upon it
! by the congress is competent to pass
| judgment OH such matter.
Those who fear from any reason the
extension of federal activity will dc
we'll to study the history not only of
the national banking act, but of the
pure food law, and notably the meat
| inspection law recently enacted. The
| pure food law was opposed so violent.
| ly that its passage was delayed for a
decade, yet it has worked unmixed and
immediate good. The meat inspection
| law was even more violently assai1ed
and the same men who now denOunce
the attitude of the national govern
ment in seeking to oversee and contro
the workings of interstate common car
riers and business concerns then as
serted that we were "discrediting anC
running great American industry
Two years have not elapsed, and al
ready it has become evident that the
great benefit the law confers upon thu
public is accompanied by an equal ben
eft to the reputable packing establish
| ments The latter are better off unde
the law than they were without 1t
The benefit to interstate common car
riers and business concerns from thu
legislation l advocate would be equal
ly marked.
Pure Food Law.
Incidentally in the passage of tn
pure food law the action of the vari
Gus state food and dairy commission
ers showed in striking fashion hov
much good for the whole people result
from the hearty cooperation of th
federal and state officials in securin
a given reform. 1t is primarily to tn
action of these state commissioner
. that we owe the enactment of thi
; law, for they aroused the people. frs
to demand the enactment and enforce
ment of state laws on the subject an
. then the enactment of the federal Law
, without which the state laws wer
. largely ineffective. There must be tn
{ closest cooperation between the NJ
r tional and state governments In az
. ministering these laws.
5 Currency Legislation Needed.
2 a0ain ur0p on tha CONGRESS- fb