The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-12-04
The Presidents Message
Avoids Further Dis
turbing Feature. S'''S :
IS WIDE IN ITS SCOPE
CounseIs Delay In Dealing With
Tariff..Readine Heard by Great
ThrOns.-.Lengthy Document.


of congress was taken up today with
hearing of the message of the presi-
dent, reading of which began at
1890 this morning. Following con-
clusion of the message adjournment
was taken until tomorrow.
A large assemblage was present to
hear the message, which was listened
to with closest attention, no sentence
being permitted to pass without an
alysis by the hearers for some con-
tanned meaning which might have di-
rect bearing on conditions in the
country at the present time.
Hundreds who sought admission to
the galleries were disappointed and
obliged to turn away. Every avail
able foot of rooms was occupied. The
gathering included people from all
parts of the country and representa-
tive of every line of industry. There
was evident relief on the part of all
when it became apparent as reading
progressed that the forecasts printed
during the previous days were cor
rect in outlining the message as a
peace making document couched in
words which while they did not with
draw the president from his previ-
out attitude refrained from any
further disturbance of conditions
in the country by i'll advised attack.
The principal features of the mes
sage may be summed up in its atti-
tude favoring an emergency cur
rency, against tariff tinkering until
after the next election and in recon-
mendation of extension of the powers
of the Interstate Commerce commits
sion to such limit as to enable its
supervision of railroad issues of Sc
curities. Along this line the mes
sage says:
''In my Judgment there should now
be either a national Incorporation act
or a law licensing railway companies
to engage in interstate commerce
upon certain conditions. The law
should be so framed as to give to the
Interstate Commerce commission
power to pass upon the future issue
OF securities, while ample means
should be provided to enable the COM
mission, whenever in its judgment it
is necessary, to make physical val
uation of any railroad. AS | stated
in my message to congress a year
ago, railroads should be given power
to enter into agreements, subject to
these agreements being made public
in minute detail and to the consent
of the Interstate Commerce commits
sion being first obtained"
On the tariff question the president
counsels delay of reforms until after
the next election, after declaring be-
lief that a general revision of sched-
ules should occur every dozen years
or so. Continuing he says: Such
revision should be entirely removed
from politics. This means that the
subject can not with wisdom be dealt
with in the year preceding presi-
Dental campaign, because as a mat
ter of fact experience has conclusive
ly shown that at such a time it is
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
Corporations the message deals
with at much length. The president
in regard to this subject, as in sew
eral other instances in his message,
takes occasion to quote from prev1-
Gus messages. In q general way he
says with regard to the issue:
THE congress has the power to
charter corporations to engage in in
terstate and foreign commerce, and
a general law can be enacted under
the provisions of which existing cor
porations could take our federal
charters and new federal corpora
NO nCCnntia1
provision of such a law should be g
method of predetermining by some
federal board or commission whether
the applicant for federal charter
was an association or combination
within prescriptions of the fedora
law. Provision should also be made
for complete publicity of all matters
affecting the public and complete
protection to the investing public an6
shareholders in the matter of issuing
corporate securities. The real own
ers of a corporation should be com
PEELED to do business in their owr
name. The right to hold stock II
other corporations should hereafter
be denied to interstate. corporations
unless on approval by the proper
government officials, and a prerequi
site to such approval should be thu
listing with the government of al
owners and stockholders, both by the
corporation owning the stock and b,
the corporation in which such stool
is owned.
The message, which was one of th'
longest ever sent to congress by ;
president and deals with create
variety of subjects than any othe
previous communication, touche
upon other features with recon
mendations for adoption as follows
Laws levying both income and in
baritance taxes Instead of impOS