The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1907-12-06
Prenls.t u.n..ltnx conpettt,e..

Prohibit Uahsalthy conpetitien.
should 5. tss goPtss 70 b e ss e
set ssh os. s paapo:s
crushing out composition, the prevention
tlon Of e corporation's making exclusive
any trade with Itself. Reasonable agree
monts between or combinations of, corr
.R e should BE- permitted, provided
t IN ya are nrst submitted to and approved
THE congress has the power to charter
CORPORATIONS to engage In interstate and
1oreign commerce, and general law
Which pc under the po,S0nts o.
ous ieaerA charters and new federal
corporations could be created. An es-
sentiaI provision Of such a law should
federal board or Commission whether the
applicant for federal charter was an
association or combination within the re-
strictions OF the federal law. Provision
licity in all matters affecting the public
and complete protection to the investing
poolc and the shareholders in the mat
;e OF issuing corporate securities. II an
pie. q license act for big interstate cor
porations might be enacted: or 2 COM
naI1aeLo Of the two might be tried. The
oo,,e .S. ~ estapAsneo Msnt Oe a
banks; At least. the anti-trust act
should be supplemented by specific pro-
ntbittons Of the methods which expert
ice in enabling monopolistic combinations
10 crush out competition. The real own,
ers Of q corporation should be compelled
70 90 business in their own name.
ment. in connection with the amendment
1 advocate In the antitrust law, power
OF supervision over big business concerns
engaged In interstate commerce would
tional banks. In the recent business
crisis it is noteworthy that the institu-
lions which failed were institutions which
were not under the supervision and con-
which were under national control stood
the test.
Would BeneAt All.
National control Of the kind advocated
would be to the benefit Of every we'll
managed railway.
extension Of federal activity will do well
to study the history not only of the ma
tional banking act but Of the pure food
law. and notably the meat inspection law
was opposed 50 Violently that its passage
was delayed for decade, yet 1t has
worked unmixed and immediate good
The meat inspection law was even more
elapsed, and already it has become evi-
dent that the great benefit the law con-
fers upon the public is accompanied nv
an equal benefit to the reputable packing
establishments. The latter are better OF
under the law than they were without It,
The benefit to interstate common carriers
and business concerns from the legisla-
ton es advocate would be equally mark
Pure Food Law.
SsTorfHonfoIIxy In NJ the
pure food law the action of the various
state food and dairy commissioners show
ed in striking fashion how much good for
the whole people results from the l hearty
flcials in securing given reform. 1t IS
primarily to the action of these state
commissioners that we owe the enact
ment Of this law for they aroused the the
enforcement Of state laws on the sub
ject, and then the enactment of the fed
eral law, without which the state laws
were largely ineffective. There must nus u, De
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
1--WE need a greater elasticity in our
currency: provided. Of course. that we
recognize the even greater need of q safe
and secure currency There must always
tional authorities. Provision should he
made for an emergency currency. The
emergency issue. shouid.;of course. be
upon conditions carefully prescribed by
the government. Such emergency issue
must be based on adequate securities ap-
a n eee taxi This
permit currency being issued when the
demand for It was urgent. while secur-
ing its retirement as 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
legislation to this effect should be enacted
for the District Of Columbia and the ter
ritories.
the wisest legislation on the subject can
only accomplish certain amount. No
legislation can by any possibility guar
antee the business community against the
It can guarantee an individual against
the results of his extravaganza
The income account Of the nation is ii,
less: the president says. there is an evil
among our people that the time is ran.
revenue Legislation must be revised. "
The TariR.
''This country is definitely committed to
the protective system and any EFFORT to
uproot 1t could not but cause widespread
Industrial disaster. In other words, the
principle Of the present tariff law could
not with wisdom be changed. But in a
country Of such phenomenal growth as
ours it is probably well that every dozen
years or 30 the tariff laws should be
carefully scrutinized so as to see. that no
excessive or improper benefits are con-
ferred thereby, that proper revenue is
provided. and that our foreign trade is
encouraged. There must always be as a
minimum a tariff which will not only al
low for the collection Of an ample rev
enue but which will at least make good
the difference in cost Of production here
and abroad.
The question should be approached
purely from business standpoint: both
the time and the manner of the change
being such as to arouse the minimum Of
agitation and disturbance in the business
world. and to give the least play FOR sell
fish and factional motives. The sole con-
sideration should be to see that the sum
total Of changes represents the public
good. This means that the subject can
not with wisdom be dealt with in the
year preceding presidential election,
because as 9 matter Of fact experiences
has conclusively shown that at such a