Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1907-12-07

tAltubiOu Ol pdlCclo pOSlf ESPECIALLY
on rural routes, as means of protec-
ton for the farmer and the country
srorekeeper.
In the matter of extending federal
supervision over interstate commerce
the president advises either q ma
tional Incorporation act or q 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 It 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 it. The courts will
determine the limits within which the
federal authority can exercise 1t, 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 it's
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
ters 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 for
complete publicity in all matters af-
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 specific
prohibitions of the methods which ex-
perience has shown have been of most
service in enabling monopolistic com
binations to crush out competition
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 by the
proper government officials, and a pre-
requisite to such approval should be
the listing with the government of al
owners and stockholders, both by the
corporation owning such stock anC
by the corporation in which such stool
is owned.
ITO confer upon the national gov
eminent, in connection with the
amendment l advocate in the anti
trust law. power of supervision owe
big business concerns engaged in in
terstate commerce would benefit then
as it has benefited the national banks
In the recent business crisis it is note
worthy that the institutions whicl
failed were institutions which wer'
not under the supervision and contro
of the national government. Thos,
which were under national contro
stood the test.
The antitrust law should not b.
repealed, but it should be made NOR
efficient and more in harmony will
actual conditions. 1t should not Pre-
hibit combinations that do no injus
- tice to the public, still less those tn
existence of which is on the whole
E benefit to the public"
The income account of the natioi
is pronounced in a most satisfactor
condition. Exclusive of postal bus
ness the government collected SO, 465
NNNfNNN III Tic lcloN OLA hSNcll gtelln an
spent 1925. 100000, showing a ne
excess of $3.50, 1000 900 for the period
The present tariff is given credit TO
this showing, and the president de
clares that the principle of this lay
could not with wisdom be changed
Need of occasional revision of tn
7 tariff is advocated, but the presiden
believes that the subject cannot wise
ly be dealt with in the year preceC
ing presidential election. This is a
assurance that no attempt will b
5 made to revise the tariff this year.
On the subject of presidential can
paign expenses the president urge
the corporations shall be prevente
4, from contributing to the election c
r any candidate He advocates the rae
. ical method of providing a national al
/ preparation for each of the great pa
r ties. sufficient to meet legitimate can
r paign expenses incurred in the ele'
= ton of president No party recei'