The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1907-11-22
COVE vERkMENT CHARTER PLAN

In addition to a strong recon
mendation for financial legislation
which, for moment, is the para
mount question. President Roose
welt will recommend in his annual
message to congress that all cor.
porations doing an Interstate bust
ne 3. perhaps Of specified mag.
nItude shall be required to take
out government charter. Such a
charter. or license, would be is
sued by the government on the
basis OF the capitalization Of the
corporation. methods Of business
and such other restrictions as
might be- deemed essential TO the
security and welfare Of the peo.
pie.
The president has already sug.
gcsted the government charter plan
to the congress He recommended
1t two years ago and repeated the
recommendation East year. He IL
convinced that the plan will be Of
immense advantage to the people.
as well as to the corporations do
ing an interstate business In two
instances. the plan of supervision
of corporations has worked admir-
ably. II Is Mr. Roosevelt's belief
that the application of the system
OF federal supervision as to all
corporations doing an interstate
business will operate as advantage
ous'y as has the supervision of the
meat packing industry and the en-
, forcemcnt Of the national pure food
aud drug act. IL Is pointed out that
the government assurance Of the
purity and whOlesOmeness OF Amer
lean meat products has increased
tremendously the sale of these prod
ucts. and 1t already has been dem
| onstrated that government super
vision of the sale Of foods and
drugs has been of advantage to
honest manufacturers and has given
confidence and security TO the peo.
Pile.
With more than u years expeT7'
ence in the enforcement of the
s6-called Hepburn law--the new act
under which the interstate com
merce commission is operating-it
has appeared that the law is not
entirely adequate to meet the needs
Of the railway situation. The pres
ident and his advisers believe that
the powers of the commission
| ought to be extended so that the
commission may have supervision
| over the issuance of stock and
! bonds, and II recommendation to
that effect doubtless vii be made.
/, iH clear To the president too.
that pooling arrangements between
railroads ought to be sanctioned
In some instances and within GER
tain limitations. These arrange
mcnts are not to be as to divis-
ion of profits. but As to the main
tcnlnce of certain rates for speci-
fled service. The authority to sane
ton such proper pooling. the presi'
dent believes. ought TO he confer
red upon the Interstate Commerce
Commission
II is quite certain, also that the
president vii recommend the
amendment of the sherman anti
trust law 50 as to prohibit only
such combinations in restraint oi
trade as sha! he pronounced by the
courts TO be- unfair and unwarrant
ed
Just now. the president Is in
torcstcd particularly in the govern
muut charter scheme, Tie believes
that government inspection and
supervision of interstate corpora
,im securities will bc of immense
advantage to them, as it VIII give
10 the people assurance Of thelI
i value and safety for investment
1 purposes. Such supervision, too, II
: is believed, would tend to check
uuwisc speculation and balloon
. nE' in securities of that kind
Iwhlcs, in the past has operated
. to the dctrimcnt OF real investment
buying
-C..o-
n hehCovcs every man TO dc