The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1907-12-06
MESSAGE SENT
CONGRESS
Presidents Reeonlnen-
cations on National
Legislation.
AS TO CURRENCY QUESTION
Many Defects of Present System
Are Pointed Out by Chief
Executive.
NOT TIME FOR TARIFF
rest ponement of Discussion Of Re-.
VISION of Schedules Until After
Presidential Election Urged Ne.
'eSSIsy for improving Waterways of
the Country.

VeIt o. nLSton' Dec 3-Prestdent Roos
S III MS annual message daaIs '.i,y'
+anno "'h matters of national imno
$3.50 referring to the recent distiIHi
tbat IN financial circles he pofnts -,
nIa , e boarding of money by the nor
We tto OF Keeping it in sound banI,,
and ~ cause OF financial stringent
tho 60 e"Ie error. He pays a tribute T.
e. ee"erdi honesty of the men engas,a,
Lhe banking business. 's"ee'
AFTER quotations from his 1os+ ~
e'9dse which dealt with tho no, 1l-'i -
'eIhhental regulations tho r,o';
III asserts that his views bayo - N"'
C"dhSed and declares If is tho ANY,
rte national government IN nr,t'rI!.
,H tHe principles he then exnreesoJ
,roIiaatts any idea of advocating can
,,o H'lloh the president insists uno, tto
1865 Tor federal control of the rail
statn VI 'he country through the inter-
,,rr,o. commerce. commission, and alec
go stS legislation looking to the nronor
pagad ~ - 'le great business concerns en-
fo he a,oII STATE business this control
- e exercised for their own benefit a,,li
prosperity no less than for tLo ,,','' ana
VI investors and of the general r,,I,,i ''0I4
Wants Federal Control
2 dftionm aiIns that modern industrial con-
onI,, are such that combination is no.
dent $50. SSary but inevitable, the prest.
concernir,s ~ his message of a year ago |
antitr,'at necessary changes in the |
ahtilrust laws. He goes on. az na,. tIe
LuI power to be given tho % go. LOT
government, because no sino,o A'uetdl
Ill in oy Legislation effectualIv oo,o
WIN these powerful cornoratiors 0ope
s"seu IN interstate commerce and III
ing mem full justice, exact from th ,lIr
Ii 81 return null justice to others Tho non
t.S OF railroad activity tho 1891
80 VI our immense Interstate 800 F
+rn,te are such as to make the centnnI
S,,n eInlleht alone competent to evoroisa
-"m supervision and control. T%e II
~ ne antitrust law should be mada hoth t.
oot,,ol eliIcleht and more in harmony With
cd an oosluil!ohS' 1t should be So amend :
49, ~ iorDld only the kind of comhino
liz sunb uoes harm to the general nuh-
~, u' Such amendment to be acconono puo5 S
Dy' or to be an incident of t,rol. pa 'iieu a
tp'erVlSory power to the goyernmnnt % SUI t
snese Dig corporations engaged - oter u
business. This should he oanosI "
p, 'iI, oy provision for the con,nTIoo L
to-, 20 Ion OF accounts and the suhioo II
ill., y. ouohS ana papers to the insnoo ~
Vi the government officials ~ II
s|,s mas already been made for ,,,"% b
.''pe VISION by the establishment - ~ In
ie"u OF corporations. 'ie tt
among the points to ba oi,, pl
onuulu De the prohibition of nnbaa,tt AZ CO
- aa pe'.aon, such as by rendering sar,ioo I'd
NO o, ~ tudI loss Tor the purpose of crush 81
ia+,o competition, the prevention ~ w. ul
, cornonot Hopitai and the prohibition NJ W
With ftnoit making exclusive trade po
laue with Itself. Reasonable agraa,, any tic
or combinations of cornorntsll
rot De permitted provided thau 'o ons
Isl submitted to and approved b., ore fol
ppiopriate government BODY 00ti'e SAL
Like National Bank Sun.rv,.,
Inc congress has the nowsr - &c. COZ
operations to engage IN irta. ~ tnarter Voi
'felsn commerce, and a qanoroI t ana
enacted under the provisiono ."W can Oh
30 corporations could taka ~ -e'
-. CHARTERS and new federal oou. 1ou- no
oI eoulu De created An essontIo, poIa ~oo
o" VI Such law should ha q st p'o
commission whetbar az ieueral board und
federal charter wo. 'ne applicant for exis
deraI Io1 withln the restrictions ~ ~ Co.,,
Ieht ~ ~. Inc supervision estahIsbnS 80 u
er not,n "nsiosous to that now exercisod ~
lst act obo,,IS ms AT least, the anti the,
ic probib,t,o uu oe supplemented by spe. tho
Renee has shown bovo Us "hlch eN- ting
rVlce in enabling monono,,1.e ot mnst real
no 70 crush out competition M, II
Ia Vi corporation shouId hn Iea' Vi
led to do business IN tbni uiu De COM ment
-, Snt 10 mold stock in other cors aile' Ter
Ms should hereafter ba dont" eI corpora hand
nronar otlo1s' unless on appro- al ~, aiu
rep,,, per government officials - pend
1qulslte to such annroroI anu grow
nsung with the eovnrnra siouId be shall
lers and stockholders hott OF all the d
poTauon owning sucb CO. ny the other
led" when such stock is renoo,
The Currency o, crimi
adent calls attention n currency I the Refe
our nres. wherein he pointed om+ Use "nuse
wing the o, system is defective and or es
sage he said: IN that injunc
auonal banks shor15 occur
a specified nronortto permitted to of tho
IN notes of a giver L. Vi their cap being
Lxed at so high a rota the issue to and OF
back when NOT r,o as 10 drive the contin,
:, aue' Ihls plan would not STU vi the
IanoI vi currency to give h.nI,o s.no oy
lonal profits, but to meet the BANKS straine
presented by times of st trr emer- some some
not say that this Is the riebs e n tlon is
l only advance it to en nns sys- imports
'net that there is need for the adnn rnemse
! some system which shall IL ha au oi ner, 1t
&c and open to all sound p Eau au- some sc
10 avoid all possibility of dioori ns' ~ conn
and favoritism. Such I'm I'M sress q
TEND to prevent the spasms ~ biat i nv uevi
and speculation which now I nh tnoune u
the New York market: for ~ r ,.on u
seasons ~ tbo 80" currency at AmonI
tion at New York tempts banksr. r r.'u mes
II at low rates for speculatius n a,,,oao
81 whereas at other times When sioo e 80 ,
ed for larao ~ mere is ur- governm
IN the currency supply. It mnst Tho =
% forgotten that this ouAst,oo vo me p
business men generally on,ta ~ So
as bankers; especially 10 this "s nLus J
istockmen farmers and business terSon .he
Inc west; for at present at certain incr.a..
OF the year the difference In in eembsr
ates between the east ana west Was 49, er.s