The Charles Mix new era. (Wagner, Charles Mix County, S.D.) 1???-1911, 1907-12-06

p~xutactio0 % ths investtnG pun&3e ana
thu a~hmFeholderH In tho matter az tsSu.
ins corporate securities. Il ~ incor.
posAtion law - not dssrsad advisable.
: license act for big interstate O
atfona might be enacted. on I cornbi-
nation n the two might - tried. The
supervision established utghe be n
aJug0ua 10 thxl now exNrclred over mn
ttcnai banks. AZ least. tha antitrust
act should ~ supplemented BY specific
prohibitions 81 thc methods which CA
per1ence has shown nave bean oe most
Asrytc~ In enabling moncpol.stic com
htumat0na 10 crush out competition The
real owners Of = corporation should be
compelled 10 - business In their own
nAsns. Tha right 10 hold stock In other
corporations should hereafter be de-
MED 10 Interstate corporations unless
on approval ~ the proper government
officials n = prerequisite 10 such ap-
prevail should b. tho Hating with the
government III ali owners and stock
holders, beth by sh1 corporation own
inw such stock and by the corporation
in which uch stock In owned.
To causcr UPON the national gov
eminent. I'm connection with the amend
sn~ns l advocate In the ANTITRUST Iaw,
power uf supervision over big business
concerns engaged In interstate conn
mesces would benefit them ~ IL has
kencftted the national nj In the
yNrMas business rrtsiw II In noteworthy
thai tho institutions which failed were
institutions which were not unde the
~ supervision n control Of the national
s ~rxnrnenf. Those which were under
national control stood the test.
Mould Help the Railroads.
National control cf tho ktnd above
advocated would h~ to the benefit of
every well managed railway. From
tho standpoint ct the public there IN
ss*si for additional tracks. additional
terminals. and improvements In the
actual handling ~ h railroads. and
ni this ~ rapidly "a possible. Ample
safe ard speedy trans poriastnn facili~
ssas are eve more necessary than
etseegs transportation. Therefore. there
In need for the investment of money
which with provide for all these things
while ~ the Same time securing as far
M IL possible better wages and shorter
hour Tor their employees. Therefore.
white there must he just and reason
abb regulation Of rates. we should he
tbe srss 10 protest against any nrbi-
svaxT and u~nthinking movement TO cut
them down without the fullest and
rssoss careful consideration OF all in
tercsts concerned and or the actual
reeds az the situation. Only a sr,e-
eiai body OF men acting for the ma
sionai government nde authority con-
f~rr~d upon III by the congress In COM
potent to pass judgment On such d
matter.
Purs Food Law . Success.
......
I. Those who fear. from any rea-
/. snn. the extension Of federal sc :
/. tiyity viii do we'll TO study the
!: history not only of the national
!. banking act but Of the pure food /:
{: law. and notably the meat fnspec- /;
I. ton Law recently enacted. The /:
/: pure food law Was opposed so vio-
/: iently that Its passage Was de-
lmyed for N decade: yet ii has
!: good. TIE meat inspection law
/. WAS eve more violently assaiied: :
/. IN the same men who now de-
/: nouncc the attitude Of the ma /:
(. siona government in seeking TO
/. oversee and control the workings !:
/. of Interstate common carriers Ia /:
/. business concerns. then asserted /: !
/: hat we were -discreditIng and
!: running a great American indus
(. try" Two years ave not elapsed
I. and already IL has become evident : |
I: that the great benefit tho law cou- |
I: fcra pom the public is accom-
+. pisshed by m equal benefit To the /: |
!. reputable packing establishments. !:
. The latter are better on under tA4 :
I. law than the were without II The
: benefit to Interstate common car /:
. raers and business concerns from
(. the Legislation l advocate would be !:
(: equally narked.
Incidentally, in the passage OF the
pure food law the action OF the yArf-
Gus state food and dairy commission
eys showed In striking fashion how
much good for the whole people re-
quits from the hearty co-operation OF
the federal and state officials In se-
curing a given reform. Ii lis prima-
risy 70 the action of these state COM
Tssmni0ners that we owe the enactment
az this law: for they ous the peo-
pie. fYsf to demand the enactment and
enforcement Of state laws on the sub
tecf. and then the enactment OF the
federal law. without which the state
laws we're largely ineffective There
must be the closest corporation be-
tween the national and stale govern
menis Ia administering these laws.
Currency Reform Needed.
6 | spoke AZ follows OF h currency:
II especially call o n attention to
the condition Of our currency laws The
national bank act has ably served q
great purpose In aiding the
business development Of the country.
ard WtkEtE ten years tDSEe uK8 DefU All
increase In circulation per capita from
tx1.4i I o 133-69- For several years evil
dsnce hAs been accommodating that I'D
disicnaI legislation II needed. The re-
currence Of vach crop season empha-
sizes the defects Of the present laws.
There munf soDn BE- q revision OF them
because TO cave them m they are
uaea us 70 incur liability OF business dis
ns1er. Since -FOUR body adjourned
there has bee . fiuctuation In the In
ter<sf on call money from 2 per cent.
10 % per cant. and the f~iUctuafion was
even greater during the preceding six
months The secretary OF the treasury
had TO sfep In and by wise action put
= st0p To h most violent period Of
Oa~ciilmfsOn. Even worse than such
suctuAtson II the advance In
cha rates and The uncertainty felt In
the tnsufSciency Of credit even at high
rntea. All commercial interests suffSr
during each crop period Excessive
rAs~r for cali money In New York ae-
tract mone from the interior banks
into the speculative field This depseivs
she fund that would otherwise be await
able for commercial uses. and
rfuI borrowers are forced to pay sb-
rs,rmai rates. no thar each fall n tag,
in the shape Of increased interest
charges. is placed on the whole cou-
us1rre of th~ country.
Thu mere statement Of these fA&1s