The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1907-12-06

are in Existence and then attempting to
destroy them by civil or criminal pro-
ceedngS.
"a Combination should not be, tolerated
if it abuse the power acquired by combi-
nation TO the public detriment. No cor
poratio or association of any kind should
be permitted to engage in foreign or in
terstate commerce that is formed for the
purpose of or whose operations create, a
mononolv or sneral control of the pro-
euction, sale or distribution of any one
or more of the prime necessities of life or
articles of general use and necessity.
Such combinations are against public pol
lev. they violate the common law the
doors of the courts are closed to those
who are parties 90 them, and | belleVs
the congress can close the channels of in
.erstate commerce against them for its
Prohibit Unhealthy Competition.
Among the points to be aimed At
should be the prohtb! uon OF Unhealthy
competition, such as BY rendering sery-
crushing out competition, the prevention
.of imitation of capital, and the prohibi-
Ion of corporations making exclusive
trade With itself condition of having
any trade with itself Reasonable agree
ments between, or combinations Of cor
@orations should be permitted, provided
they are first submitted to and approved
by some appropriate government body.
Inc congress has the power to charter
corporations to engage in interstate and
foreign commerce, and general law
which existing corporations could take
out federal charters and new federal
CORPORATIONS could be created An es,
Sentia ~, provision of such law should
eieral board or commission whether the
pplicant for a federal charter was an
ssociation or combination within the re
Strictions of the federal law Provision
should also be made for complete pub
licity in all matters affecting the public
and complete protection to the investing
public and the shareholders in the mat
ter of issuing corporate securities. If an
INCORPORATION law is not deemed advisa-
BILE. a license act for big interstate cor
poratlons might be enacted: or com
supervision established might be- analo,
gous to that now exercised over national
banks. AT least. the antitrust act
should be supplemented by specific pro-
ence has shown have been of most serV-
ice in enabling monopolistic combinations
to crush out competition. The real own
ers of a corporation should be compelled
to do business in their own name.
TO confer upon the national govern
.ment. in connection with the amendment
L 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
'ional banks. In the recent bushes
'llsls it is noteworthy that the institu
lions which failed We're institutions which
We're not under the supervision and con-
troll of the national government Those
which We're under national control stood
the test.
Would Benefit All.
| would be to the benefit of every we'll
| managed railway. From the standpoint
of the public there is need for additional
| tracks. additional terminals and improve
| ments in the actual handling of the rail-
| roads, and all this as rapidly as possible
Ample. safe and speedy transportation
facilities are even more necessary than
cheap transportation. Therefore there is
need for the investment of money which
will provide for all these things, While
at the same time securing, as far as pos
sible, better wages and shorter hours for
| their employees. Therefore. while there
must be just and reasonable regulation
of rates, we should be the first to protest
against any arbitrary and minimizing
movement to cut them down without the
fullest and most careful consideration OF
all interests concerned and of the actual
needs of the situation. Only a special
| body of men acting for the national gov
| eminent under authority conferred upon
1t by the congress is competent to pass
judgment on such matter.
Those who fear, from any reason. the
extension of federal activity will do we'll
| tional banking act but of the pure food
law, and notably the meat inspection law
recently enacted. The pure food law
was opposed so violently that it's passage
worked unmixed and immediate good
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 Oft
under the law than they were without It,
The benefit to interstate common carriers
and business concerns from the leglsla-
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 snow
ed in striking fashion how much good Tor
the whole people results from the nearly
cooperation of the federal and state Of
ncials in securing a given reform. 1t IS
primarily to the action of these stare
commissioners that we owe me ena 4ha
people, first to demand the enactment and
enforcement of state laws on the sub
ject. and then the enactment OF the fed
we're largely ineffective. There must De
the closest cooperation between the ma
tional and state governments In admin
istering these laws"
Currency Laws.
The president again calls attention to
the condition Of our currency laws and
urges on congress the need of immediate
attention to this matter. He saws:
I'VE need q greater elaSllClly III Jul
currency; provided. of course. that We
recognize the even greater need of safe
and secure currency There must always
be the most rigid examination by the ma
tional authorities. Provision should be
made for an emergency currency. The
emergency issue should. of course. be
made with an effective guaranty. and
upon conditions carefully prescribed by
the government. Such emergency issue
must be based on adequate securities ap-
proved by the government. and must be
issued under heavy tax. This would
permit currency being issued when the
demand for 1t was urgent. while secur-
ing it's retirement az 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 be
| subject to the same supervision as banks;
legislation to this effect should be enacted
for the District Of Columbia and the ter
ritories.
yet we must also remember that even
the wisest legislation on the subject can
| only accomplish certain amount. No
legislation can by any possibility guar
antee the business community against the
. results of speculative folly any more than
1t can guarantee an individual against
the results of his extravagance."
The income account of the nation. Is In
most satisfactory condition. Neverthe-
less. the president says. there is an evil
dent and constantly growing feeling
Idly approaching when our system Of
! 1ory toll ttDvn h.