Alma record. (Alma, Mich.) 1878-1928, 1907-12-04
PRESIDENT 5 MESSAGE
lcontinued from 6rst pace

Continued from first page)
hIbition Of CORPORATIONS making ex-
elusive trade with itself condition OF
having any trade with itself Reason
able agreements between or comblna-
tions OF corporations should be per
mitted provided they are first submit
ted TO and approved by some appro-
pirate government body.
Congress Power
The congress has the power 10 char
ter corporations 20 engage In Interstate
and foreign commerce. and general
law can be enacted under the provi
sions Of which existing corporations
could take out federal charters and
new federal corporations could be ere
sted. An essential provision of such a
law should lac method OF predeter
mining by some federal board or com
mission whether the applicant for
federal charter was an association or
combination within the restrictions OF
the federal law Provision should also
be made for complete publicity ia a.
matters affecting the public and com
plete protection 10 the Investing public
and the shareholder ~ the matter Of
issuiAg corporate securities II an IN
corporation law Is not deemed advisa
BILE a license act for big Interstate cor
porations might be enacted OF com
bnatiun of the two might Do tried
The supervision established might Doe
analogous to that now exercised Over
national banks sc least the anti
trust act should De supplemented D.
specific prohibitions of the methods
which experience has shown have been
OF most service Ia enabling mon0polls
tic combinations to crush out compet
ton
The real owners Of a corporation
should be compelled TO DO business in
their own name The right TO hold
stock In other corporations should here
after be denied to Interstate corpora
tions. unless on approya by the proper
government officials, and prerequisite
to such approval should be the listing
with the government Of all owners and
stockholders. both boy the corporation
owning such stock aud by the corpora
t4pu III Muiiu SUN STUN ~ Wv -t~@t'
Lessons Of Recent Crisis.
To confer upon the national govern
ment In connection with the amend
ment | advocate in the antitrust law
power Of supervision over big business
concerns engaged In Interstate com
merce would benefit them as II has
benefited the national banks. In the
recent business crisis ii is noteworthy
that the institutions which failed were
institutions which were not under the
supervision and control Of the national
government Those which were under
national control stood the test
National control of the kind above
advocated would be to the benefit OF
every well managed railway. From
the standpoint OF the public there is
need for additional tracks. additional
terminals and improvements I'm the ac-
tual handling of the railroads. and all
this as rapidly as possible. Ample.
safe and speedy transportation facili-
ties are even more necessary than
cheap transportation. Therefore there
II need for the investment OF money
which will provide for all these things
while at the same time securing "a far
rs is possible better wages and shorter
hours for their employees. Therefore.
while there must be just and reasona-
BILE regulation of rates we should be
the first to protest against any arbitra-
ry and unthinking movement TO cut
them down without the fullest and
most careful consideration OF all inter
ests concerned and OF the actual needs
OF the situation. Only special body
OF men acting for the national govern
ment under authority conferred upon IL
by the congress Is competent to pass
Judgment on such q matter.
Those who fear from any reason the
extension OF federal activity Will do
the national banking act. but OF the
pure food law, and notably the meat
inspection law recently enacted. The
pure food law was opposed so violent
ly that its passage was delayed for
decade, yet 1t has worked unmixed and
immediate good. The meat inspection
law was even more violently assailed,
and the same men who now denounce
the attitude OF the national govern
ment In seeking TO oversee aud contro!
the workings OF interstate common car
riers and business concerns then as
serted that we were 'dlscrediting and
running a great American industry"
Two years have not elapsed, and al
ready IT has become evident that the
great benefit the law confers upon the
public Is accompanied by an equal ben
eft to the reputable packing establish
ments The latter are better of under
the law than they were without 1t.
The benefit 10 interstate common car
riers and business concerns from the
legislation | advocate would be equal
1y marked
Pure Food Law.
incidentally In the passage OF the
pure food law the action of the vari-
Gus state food and dairy commission
ers showed In striking fashion how
much good for the whole people results
from the hearty cooperation OF the
federal and state officials In securing
a given reform. 1t is primarily to the
action OF these state commissioners
that we owe the enactment of this
law. for they aroused the people, first
to demand the enactment and enforce
ment Of state laws on the subject and
then the enactment of the federal law,
without which the state laws were
largely Ineffective. There must be the
closest cooperation between the ma
tional and state governments in ad-