Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1907-12-12
TAKE OUT FEDERAL CHARTERS |
AND NEW FEDERAL CORPORA
TIONS COULD BE CREATED.
License as an AIternative.

TAKE OUT CHARTERS
AND NEW FEDERAL CORPORA
TIONS COULD BE CREATED.
License as an Alternative.
An essential provision of UGH a law
should be "A method of predetermining
by some federal board or commission
whether the applicant for u federal
charter was an association or combi-
nation within the restrictions OF the
federal law. Provision should also be
made for complete publicity in all mat
tiers affecting the public and complete
protection to he investing public and
the shareholders In the matter of issu-
ing corporate securities. If an incor-
poration law is not deemed advisable.
Il license act for big interstate corpor-
atoms might be enacted; or a combi-
nation OF. the two might be tried. The
supervision established might be an
nlogous to hat now exercised over ma
tional banks. At least, the ANTITRUST
act should be supplemented by specific
prohibitions OF the methods which eA-
pcrience has shown a been of most
service in enabling monopolistic COM
binations to crush on competition. The
real owners of Il corporation should be
compelled to do business in their own
anne The right to hold stock in other
corporations should hereafter be de-
MED to interstate corporations unless
III dPIIOtdi ny kuC PIUlti SOVCI IliilSiit
officials, and q prerequisite to such APP
prevail should be the listing with he
government of all owners n stock
holders, both by the corporation own
ing such stock and by the corporation
In which such stock is owned.
To confer upon the national gov
eminent, in connection with the amend
ment / advocate in the antitrust law,
owe of supervision over big business
concerns engaged in interstate COM
inerce, would benefit them as it has
benefited the national banks. In the
recent business crisis 1T is noteworthy
that the institutions which failed were
institutions which were not under the
supervision n control of the national
government. Those which We're under
national control stood the test.
Would Help the Railroads.
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, mo improvements in the
actual 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
Is need FOR the investment of money
which will provide for all these things
while at the Same time securing as far
as is possible better wages and shorter
for their employees. Therefore,
while there must be just and reason
bic regulation of rates. we should be
the first to protest against any arbi-
trary and minimizing movement to cut
them down without the fullest and
most careful consideration OF all in
terests concerned and of the actual
needs of the situation. Only a Spe-
clal body o: mel acting for the ma
tional government under authority on
ferred upon it by the congress is COM
petent TO pass judgment on such "a
matter.
Pure Food Law a Success.
Those who fear, from any rea- ::
{: son., he extension of federal &C !:
!: ttvity will do well to study the ::
{: history not only of the national !:
+: banking act blu of the pure food {:
/: law. and notably the meat inspec- !:
ton law recently enacted. The /:
(: pure food law was opposed SO vic {:
lently that its passage was de- !:
layed for a decade; yet it has ::
: worker unmixed and immediate {:
=: rood. The meat inspection law !:
F.: was even more violently assailed; (:
: and the same men who now de- {:
+: nounce The attitude Of the ma /:
. NloiAd1 government IN seeking 10 p:
: oversee and control the workings {:
(: OF interstate common carriers and {:
business concerns. then asserted /:
(: that we were ~''discrediting and !:
: running a great American indus (:
{: try" Two years have not elapsed, /:
: and already 1t has become evident /:
=: that the great benefit the law con- /:
!: fers upon the public is accom- /:
pltshed by an equal benefit to the /:
f: reputable packing establishments. (:
(: The latter are better off under the +:
+: law than they We're without it. The I:
T: benefit to interstate ommon AR +:
/: riers n business concerns from I:
the legislation l advocate would be :
!: equally marked. :
Currency Reform Needed.
In my message to the congress a year
ago l spoke as follows of the currency:
Il especially call your attention tC
the condition of our currency laws. The
national bank act has ably served a
great purpose in aiding the enormous
business development of the country
and within ten years there has been an
increase in circulation per capita from
$21.4 TO $33.OS. For several years evi.
dence has been accommodating that ad.
dttional legislation is needed. The re.
currence of each crOp empha.
sizes the defects OF the present laws
There must soon be n revision OF then
because to leave them as they arr
means to incur liability Of business dis.
aster. Since your body adjourned
there has been Il fiuctuatiOn in the in.