The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1907-12-05
Prohibit Unhealthy compet,t,on.

pc method Of predetermining by some
lederal board or commission whether the
association or combination within the re-
strfctions Of the federal law. Provision
should should also be made for complete pub
and complete protection to the investing
PUBLIC and the shareholders in the mat
ter OF Issuing corporate securities. If an
be. license aet for n Big dHssa
Porations might be enacted: or COM
bination OF the two might be tried. The
supervision established might be analo,,
should be supplemented by specific pro-
htbftions Of the methods which expert
ice in enabling monopolistic combinations
to crush out competition. The real own,
ers of a corporation should he compelled
TO .. 90 business in their own name: ,o.
10 confer upon the national govern.
ment. in connection with the amendment
l advocate in the antitrust law. power
OF supervision over big business concerns
benefit them as it has benefited the ma
tional banks. In the recent business
crisis it is noteworthy that the institu-
Were NOT uner the @eus and
troll of the national government. Those
which were under national control STOOD
Would BENEFIT All.
National control Of the kind advocated
would be t. the benefit Of every Well
Those who fear, from any reason, the
extension. Of federal activity will do well
to study the history not only of the ma;
law. and notably the meat inspection law
was opposed 50 violently that its passage
wask aaysa for and yet sooa
The meat inspection law was even more
violently assailed. Two years have not
elapsed, and already. it has become evil
fers upon the public is accompanied nv
an equal benefit to the reputable packing
establishments. The latter are better of
under the law than they were without 1t.
and business concerns from the legisla-
ton I advocate would be equally mark
Pure Food Law.
Incidentally in the passage Of the
pure food law the action of the various
state food and dairy commissioners show
ed in striking fashion how much good for
the whole people results from the nearly
cooperation Of the federal and state Of +.
primarily to the action of these state
Commissioners that we owe the enact
ment Of this law, for they aroused the
enforcement Of state laws on the sub
ject, and then the enactment of the fed
eral law, without which the state laws
were largely ineffective. There must nus oe
tional and state governments in admin
tstering these laws"
Currency Laws.
The president again calls attention to
the condition of our currency laws and
on the need Of saYa
1--WE need a greater elasticity. in our
currency; provided. Of course: that we
recognize the even greater need Of safe
he the most rigid examination by the ma
tional authorities. Provision should he
made for an The
made with an effective guaranty. and
uDon conditions carefully prescribed by
the government: Such emergency issue
proved by the government. and must be
issued under heavy tax. This would
hermit currency being issued when the
demand for 1t was urgent. while secur-
ing its retirement as the demand fell off.
1t is worth investigating to determine
whether officers and directors Of national
banks should ever be allowed to loan to
themselves. Trust companies should he
subject to the same supervision as banks:
Hesitation to this effect should be enacted
for the District of Columbia and the ter
rit tori :,,o ,,,,.. o,.o uo.,o,,. A.,
the wisest legislation on the subject can
only accomplish certain amount. No
legislation can by any possibility guar
antee the business community against the
r, results Of speculative folly any more than
the results of his extravaganza"
The income account OF the nation Ia in
a most satisfactory condition. Neverthe-
less. the president says there is an evil
among our people that the time is I raps
Idly approaching when our system Of
revenue legislation must be revised.
The Tariff.
ssrrl,fo oo,,v<r,r &C. daao{<ol,,
the protective system and any effort to
uproot it could not but cause widespread
Industrial disaster. In other words. the
not with wisdom be changed. But in a
country Of such phenomenal growth as
ours it is probably well that every dozen
years r, or SO . tariff laws should be
excessive or improper benefits are con-
ferred thereby, that proper revenue is
provided: and that our foreign trade is
encouraged. There must always be as a
minimum tariff which will not only al
low for the collection of an ample rev.
enue but which will at least make good
and abroad.
The question should be approached
purely from business STANDPOINT: both
being such as to arouse the minimum Of
agitation and disturbance in the business
world. and to give the least play for sell
sideration should be to see that the sum
tota! Of changes represents the public
good. This means that the subject can
not with wisdom be dealt with in the
year preceding presidential election.
because as q matter of fact experiences
has conclusively shown that at such
time 1t fs impossible to get men to treat
it from the standpoint Of the public good
In my Judgment the wise time to deal
with the matter is Immediately after
such election"
Income Tax and Inheritance Tar.
"when our tax laws are revised the
question Of an income tax and an inher-
itance tax should receive the careful at
tention Of our legislators. In my tudg-
ment both Of these taxes should be part
Of our system Of federal taxation"
Compulsory Investigation of Indus-
trial Disputes.
Strikes and lockouts. with their at
tendant loss and suffering. continue to
decrease. For the five years ending Dec.
81, 1905, the number of strikes was
greater than those in any previous ten
years and was double the number in the
preceding five years These figures in
dictate the increasing need of providing
some machinery 10 deal with this class
Of disturbances in the interest alike Of
the employer. the employee, and the een-
eral public. I renew my previous rec
ommendation that the congress favorabiv
consider the matter Of creating the ma