Golden Valley chronicle. (Beach, Billings County, N.D.) 1905-1916, 1907-12-12
FINANCIAL REFORM IS NEEDED
ANTITRUST LAWS, INTERSTATE
COMMERCE AND TARIFF DIS
cussEp.

SOS9eOs
The following is synopsis Of the pres
dents message:
IN opening his message the president
refers to the financial stringency as fol-
lows:
No nation has greater resources than
o thas ana think 1t can be truthfully said
greater energy and, Industrial ability. In
no nation are the fundamental business
S yerg o7s so1nder than in ours at this
such is the case. for people to hoard
money money instead OF keeping It in sound
par 1hank ie:, TOT It is such boarding that is
s sIa lmmedtate occasion of money strin-
e * 10y. Moreover. as rule. the business
OF our people Is conducted with honesty
a farm! nro oa and this applies alike to
banks. to all our legitimate commercial
tbe In any any large body Of men: however.
honest: and If the conditions are such
that these men prosper or commit their
m !ln with inpunity. their example is
f ttey. evil thing for the community. Where
saEaci5y and of temperament both un-
scrlpulous and reckless. and where the
G con SY.na, are such that they act with
t% WI effective check from public opin-
ION ION they delude many innocent people
i.; LIZ n. .se Investments or embarking in
T MHus OF business that are really unsound.
Mnen the misdeeds of these successfully
alsnonest men are discovered. suffering
Zones inmnesn not only upon them. but upon the
~ - palnful awakening, whenever it
occurs: and. naturally. when it does oc-
that ths 1or Who suffer are apt to forget
pa, ~. IT would be. In the effort to pun
IS tsh me eu1ltv It is both wise and proper
the e Iietraor 30 far as possible to minimize
teo ny the guilty. Yet 1t Is not possible
~ Egtraln because of such distress from
that are e n. put ',It, an end to the misdeeds
1 1,L' and: as means to this end,
W vth1a possible to punish those respon.
fepences t On nnn There may be honest diff
mental policies: but surely there can be
no no sneh differences as to the need of un-
M s,,nln perseverance In the war against
1nterstate Commerce.
mo small part of the trouble that we
nave comes from carrying to an extreme
d dne national virtue ct self-reliance. Of in
wise to IN initiative and action 1t is
vide for its fullest exercise. GONNA tihIe
WIN 1thos seeing that liberty does not become
this is the 20 H M,rSdns g others unfortunately.
s,foo all effective regulation Inevitable adv
breeds. The founders of the constitutionn
JtLov;ueu tnat the national government
fnter s1 nave complete and sole control Of
.. Only the national government can IN
ed contre fashiSn exercise the need
there should be any extension of fe,1 t.lai
authority. for such authority ALREADY es.
. and mn aer the cSnstitution in amplest
mean tsst iatrh ara form; but it does
OF FEDERAL activity. This is not advo-
eating Capitalization. It is merely iooR-
eentr raS5s n the face and realizing that
come and cannot be avoided or ando any
and that the public at large can "nIv
tbf G!e S, itseif from certain evil effects Of
troi through the authority already CEN
: traiized IN the national government by
n 1e nei9 IS tut Itself There Ss
Of action which this nation has el ectsd
70 pursue. and has steadily pursued. dir
t ths me last six years. as shown both in
e edT ,.eas. s.auon OF the congress and the
ment OF Justice. The most vital need Is
IN connection with the railroads. As to
IN tnes Sem m my Judgment there should now
a. law licensing railway companies to en-
gage In interstate commerce upon Ger
flan,s sonditi to The law should be SO
as To give to the interstate
ample means should be provided to en-
a i,,den, the commission. whenever in its
physical valuation Of any railroad.
AS I stated in my message to the con.
s gi,ss year ago. railroads should be
slTea power e to enter into agreements.
pubic IN minute detail and to the con-
sent OF the interstate commerce commits
son SION being first obtained. ntil the ma
troll Of interstate commerce. in The aver
else Of the authority It already possesses
u II VIII DC impossible either to give to or
70 rbe get Iron from the railroads full justice
porations will do well to recognize that
TINS control must come: the only oues-
ca un mo.t as r TO- what governmental body
VIII determine the limits within which
me federal authority can exercise It. and
a a VIII still remain ample work within
Of that State Tor ant ne En- railway commission
commerce commission will work in har-
.!iony with the several state commits
SONS. each within its own province, to
acnleVe the desired end"
The Antf.trust Law.
The president points out the need ,or
a aos.l legislation looking to the proper
tt utna OF business concerns engaged in
EXERCISES c., commerce 9,,H, this control to be
Rera.y no less than for the protection Of
savs: and of the general public. He
The antitrust law should mt no NO.
peaised: but 1t should be made both more
e cnndit;dI and more in harmony with actual
to forSd onI ii s tho a1 be So amspded
s Marich Goes harm to the general public.
sucn amendment to be accompanieG nv
yiso or pc n an incident Of grant Of super.
these big concerns engaged in inters eyer
business b.. This should be accompa s1aee
ton Of ACCOUNTS f 'n and fom mp publica
eooes and pagers to the Inspection Of the
s EesS,. mem ofieials. A beginning has al
the establishment Of the bureau s nf 10y Uy
oo "The antl.trnst law should not prohibit
is the ore be sx!ften fe tS e
We're s aboished there fhs sSS o t5s
as an equally Objectionable feature fha
difficulty and delay now incident to its its
s sf9pfe an The must
lore obtaining final decision Of the
e e4ep upon proceedings instituted and
empty victopy esrss may aa otfsn.
control these corporations BY lawsuits, 70
means to , impose upon both the depart
possible buTden ana i, the no courts an i'm
carry on more than limited number ~
f Snsh suits st SUCH NC law to be really ef
t hV ~ .nnSt OF course be administered
means of lawsuits. The design should ny by
to- prevent mt the abuses incident to the
binations. instead of waiting unit, thnv
are in existence and then ATTEMPTING to
destroy them by civil or criminal bro.
"A combination should not be tolerated
If it abuse the power acquired by comhi.
nation to the public detriment No cor
be permitted to engage in foreign or in
terstate commerce that is formed for the
purpose of. or whose operations create. n
monopoly or gneral control of the mo
ducti0n. sale or distribution nf an,. 80