Iowa state bystander. [volume] (Des Moines, Iowa) 1894-1916, 1907-12-06
fnyestinG Public Should
Is" Amply SafcSuarded.

"Tho congress has the power to charter
corpora atoms to engage in Interstate and
foreign commerce. and general law can
b" enacted under the PROVISIONS of which
existing corporations could take out fed
cral charters and new federal corpora
lions could be created. An essential pro-
vision of such law should be a method
Of pr"detcrmining by some federal board
or commission whether the applicant for
IA federal charter was an association or
combination within the restrictions of the
federal law. Provision should also be
~ de for complete publicity in all matters
affecting the public and complete protec-
ton to the investing public and the share
holders in the matter of issuing corporate
securities. If an incorporation law is not
deemed advisable. a license act for big
Interstate corporations might be enacted;
or a combination of the two might he
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 cX-
p"rcnce has shown have been of most
service in enabling monop"stic combina-
tons to crush out competition. The real
owners Of a corporation should be COM
PEELED to do business In their own name.
The right to hold stock in other corpora
tiuns should hereafter he denied to inter
state corporations. unless on approval by
the proper government officials. and n
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 corporations in which such stock is
owned.
''To confer upon the national govern
incnt in connection with the amendment
J advocate in the antitrust law. power Of
supervision over big business concerns
engaged in interstate commerce. would
benefit them as it has benefited the ma
tiOnal banks. In the recent business
crisis it is noteworthy that the institu-
lions which failed were Institutions
which were not under the suprr\ ision and
control of the national government.
Those which were under national con-
troll stood the test.
National control OF the kind above ad-
vocateh would be to the benefit of every
we'll ma mayed railway. From the stand
point of the public there is need for nl-
ditonal tracks. additional terminals. and
iinpro\ cmcnls in the actual handling Of
the railroads. and all this rapidly as
possible. Ample. safe. and speedy trans
DDrtation IA Abilities are even more nrcrS-
Sary than cheap transportation. There
fore. there is need for the investment Of
money which will provide for all these
things while at the same time securing az
fas as is poss BILE better wages and
shorter hours for their employees. There
fore. while there must be just and rca-
sonablc regulation of rates. we should be
the first to protest against any arbitrary
and unlhinking movement to cut them
down without the fullest and most care
full consideration of all interests con-
ccrncd and OF the actual needs of the
situation. Only a special body Of men
acting for the national government UNI
der authority conferred upon it by the
congress is competent to pass Judgment
ON such a matter.
Greater Elasticity In
Currency Is Urged.
The president quotes extensively from
his last message in dealing with the 4;