The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1907-12-04
THIS country is definitely committed the pro-
tective system, and any effort uproot could
but cause widespread industrial disaster.

corporations might be enacted, or a
combination of the two might be tried
The supervision established might be
analogous to that now exercised over
national banks. At least the antitrust
act should be supplemented by specific
prohibitions of the methods which ex-
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 de-
MED to interstate corporations. unless
on approval of the proper government
officials, and a prerequisite TO such ap-
proval should be the listing with the
government of all owners and stock
holders, both by the corporation own
ing such stock and by the corporation
In which such stock is owned.
To confer upon the national govern
ment in connection with the amend
met advocate in the antitrust law
power of supervision over big business
concerns engaged in interstate COM
merce would benefit them, as 1t 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.
Benefit to RdilDdps
National control of the kind above
advocated would be to the benefit Of
eYery-weu managed railway From
the standpoint of the public there is
need for additional tracks, additional
terminals and such improvements in the
actual handling of the railroads and all
this as rapidly as possible. Ample.
safe and speedy transportation faciIi-
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 hours for their EMPLOYEES There
fore. while there must be just and rea-
sonable regulation OF rates, we should
be the first to protest against any ar
btrary and unthinking movement to
cut them down without the fullest and
most careful consideration of all in
terests concerned and of the actual
needs of the situation. Only a special
government under authority conferred
upon it by the congress is competent
TO pass Judgment on such a matter.
Those who fear. from any reason. the
extension of federal activity will do
well 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 violently
that its passage was DELAYED for a
decade, yet it has worked unmixed and
Immediate good The meat inspection
law was even more violently asSailed:
and the same men who now depounce
the attitude of the national govern
ment in seeking to oversee and control
the workings of interstate common car
riers and business concerns, then as
serted that we were "discrediting and
running a great American industry .
Two years have not elapsed, and al
ready 1t has become evident that the
great benefit the law eonfers upon the
public-is accompanied by an equal ben
eft to the reputable packing establish
ments. The latter are better off under
the law than they were without IT.
The benefit to interstate common car
riers and business concerns from the
legislation l advocate would be equally
marked