Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1907-12-05

prevent tie ABUSES lncldent to the crea-
tion of unhealthy and improper combina-
tions, instead Of waiting until they are
in existence and then attempting to de-
stroy them by civil or criminal proceed
ingS.
Investing Public Should
BE Amply Safeguarded.
''The congress has the power to charter
corporations to engage in interstate and
foreign commerce, and general law can
be enacted under the provisions Of which
existing corporations could take out fed
eral charters and new federal corpora
tions could be created. An essential pro-
vision Of such q law should be a method
of predetermining by some federal board
or commission whether the applicant for
a federal charter was an association OF
combination within the restrictions OF the
federal law. Provision should also be
made for complete publicity in all matters
Affecting the public and complete protec-
tion to the investing public and the share
holders in the matter of issuing corporate
securities II an incorporation law Is not
deemed advisable, license act for big
interstate corporations might be enacted;
or a combination Of the two might be
tried. The supervision established might
be analogous to that now exercised over
national banks. At least, the antitrust
act should be supplemented by specific
prohibitions of the methods which ex-
perience has shown have been Of most
service In enabling monopolistic combina-
tions to crush out competition. The real
owners of a corporation should be COM
PEELED to do business In their own name
The right to hold stock In other corpora
tions should hereafter be denied to inter-
state corporations, unless on approval by
the proper government officials, and
prerequisite to such approval should be
the listing with the government Of all
owners and stockholders. both by the
corporation owning such stock and by
the corporations in which such stock is
owned.
'To confer upon the national govern
ment, in connection with the amendment
I advocate in the antitrust law, power of
supervision over big business concerns
engaged in interstate commerce, would
benefA them as 1t has benefited the ma
tional banks In the recent business
crisis 1t Is noteworthy that the instltu-
tons which failed were institutions
which we're not under the supervision and
control of the national government.
Those which were under national con-
troll stood the test
National control Of the kind above ad-
vocated would be to the beneft Of every
weII-manaRed railway From the stand
point of the public there Ia need for ad-
ditional tracks, additional terminals, and
improvements in the actual handling Of
the railroads, and all this as rapidly as
possible. Ample, safe, and speedy trans
poFtation facilities are even more neces-
sary than cheap transportation. There
fore. there IL need for the investment Of
money which will provide for all these
things while at the same time securing a.
fas as is possible better wages and
ahorter hours for their employees. There
fore. while there must be just and rea-
sor,able regulation Of rates, we should be
the FIRST to protest against any arbitrary
and unthinking movement to cut them
down without the fullest and most care
full consideration Of all interests con-
cerned and Of the actual needs Of the
situation. Only q special body OF men
acting for the national government un-
der authority conferred upon II by the
on such q matter
Greater Elasticity IN
Curreney Is Urged.
The president quotes extensively from
his last message In dealing with the dis
rect subject Of currency legislation, and
says:
Il again urge on the congress the need
Of immediate attention to this matter.
We need a greater elasticity in our cur
rsney. provided. Of course, that We recog-
nixe the even greater need Of safe and
secure currency. There must always be
the most rigid examination by the ma
tionai authorities. Provision should be
made for an emergency currency. The
emergency Issue should. Of course. be
made with an effective guaranty. and up
on conditions carefully prescribed By the
government Such emergency i1sue must
Be based on adequate securities approved
By the government. and must be issued
under a heavy tax. This would permit
currency being issued when the demand
for Il was urgent. while securing its re-
tirement as the demand fell on. IL IL
worth investigating to determins whether
ofcsru and directors Of national hanka
should ever be allowed to loan TO them
nslvel. Trust companies should b sub
tecf 70 the same supervision a. banks;
Iarisiafiou 70 this effect should b en-
acted for ths District of Columbia and
ne territories.
"Tsf Ne mu1t also remember nat even
tha Wisaat lagiriation On ths suhteot ean
oniy aooompii1h = certain amcunt Ne
tnrfeIauen .ean ~ Az pcnNnlnfr flaf-