The Miller press. [volume] (Miller, S.D.) 190?-current, 1907-12-05

w oh VAC1nNhro ~ ALI x ll6TtlY 10Y
means of lawsuits. The design should Be
to prevent the abuses incident to the
creation of unhealthy and improper COM
sre in s=sls aassssd and f t SsItia aste nn,tl b q
destroy them by civil or criminal pro-
ceedings.
II it abuse the power acquired by combi-
nation to the public detriment. No COR
poration or association of any kind should
be permitted TO engage In foreign or in
purpose of. or whose operations create. a
monopoly or gneral control OF the pro-
duction, sale or distribution of any one
or more of the prime necessities OF life or
such combinations are against public pol.
fey; the violate the common law; the
door Of the courts are closed TO those
the congress can close the channels OF In.
serstate commerce against them for its
'f ProSisit U.he.Ithy Competition.
Among the points to be aimed at
should be the prohibition OF unhealthy
competition. such as by rendering serv.
Ice at an actual loss for the purpose OF
crushing out competition, the prevention
Of imitation of capital. and the prohioi-
ton Of a corporations making exclusive
trade with itself a condition of having
any trade with itself. Reasonable agree
ments between, or combinations or, cor
porations should be permitted, provided
they are HTSt submitted TO anu dppioNSu
by some appropriate government body.
The congress has the power TO charter
corporations to engag in interstate ana
foreign commerce, and a general law
can be enacted under the provisions or
which existing corporations could take
out federal charters and new federal
corporations could be created. An es,
sential provision of such a law should
be a method of predetermining by some
federal board or commission whether the
applicant &c: 9 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
public and the shareholders In the mat
ter OF Issuing corporate securities. III an
Incorporation law Is not deemed advise-
BILE. a license act for big interstate cor
porations might be enacted: or a COM
bination of the two might be tried. the
supervision established might be analo,
gous to hat now exercised over nationa!
banks. At least. the antitrust act
should be supplemented by specific pro-
hibitions of the methods which expert
ence has shown have been Of most serv-
to crush out competition. The real own
ers of a corporation should be compelled
to do business in their own name.
ITO confer upon the national govern
ment. in connection with the mendme
I advocate in the antitrust law, power
or supervision over big usine concerns
engaged in interstate commerce would
benefit them as 1t has benefited the ma
tiona n In the recent bushes
crisis it is noteworthy that the institu
tons which failed were institutions which
were not under the supervision and CON
troll of the national government. Those
which were under national control STOOD
the test.
Would Benefit All.
National control of the kind advocated
would he IN tho hnnaHf of 4VRTV WELL
managed railway. From the standpoint
of the public there is need for additional
tracks, additional terminals and improve
ments in the actual handling of the rail-
roads, and all this as rapidly as possible.
Ample, safe and speedy transportation
facilities are even more necessary than
cheap transportation. Therefore there Is
need for the investment of money whlch
will provide for all these things, while
at the same time securing, as far as pos
sible, better wages and shorter hours Tor
their employees. Therefore,, while there
must be just and reasonable regulatlon
of rates, we should be the hrst 70 pr9tesl
against any arbitrary n u~nthinking
movement to cut them down without the
fullest and most careful consideration OF
all interests concerned and OF the actuai
needs of the situation. Only a speciai
ody of men acting for the national gov
eminent under authority conferred upon
1t by the congress Is competent to pass
Judgment on such a matter.
Those who fear, from any reason, the
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
recently enacted. The pure food law
was opposed so violently that its passage
was delayed for a decade, yet 1t has
worked unmixed and immediate good
The meat inspection law was even more
violently assatied. Two years nave not
elapsed, and already 1t has become evil
Jarf that tho Oraaf hpnpht 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 II.
The benefit TO interstate common carriers
and business concerns from the leglsla-
ton l advocate, would be equally mark
ed"
Pure Food Law.
incidentally in the passage OF the
pure food law the action OF the various
state food and dairy commissioners snow
ed in striking fashion how much good LOT
the whole people results from the nearly
cooperation of the federal and state OF
ncials In securing a given reform. II Is
primarily to the action OF these stare
commissioners that we owe the enact
ment of this law, for they aroused the
people, first to demand the enactment ana
enforcement Of state laws on the sub
ject. and Their the enactment of the fed-
erai law. without which the state laws
were argely ineffective. There must De
the closest cooperation between the ma
tional and state governments In aoiih"-
istering these laws"
Currency Laws.
The president again calls attention to
the condition OF Jul currency laws anu
urges on congress the need or immeolale
attention to this matter. He saws;
1--WE need a greater elasticity IN our
currency: provided. of course. that we
recognize the even greater need OF q sa1e
and secure currency. There must always
tionaI authorities. Provision should he
made for an emergency currency. The
issue should. OF course. be
made with an effective guaranty. and
upon conditions carefully prescribed by
the government. Such emergency issue
must be based on adequate securities ap-
proved by the government, n must pc
issued under a heay5 Ak Thls Wouiu
demand for II was urgent. while secur-
ing it's retirement al the demand fell on.
1t Is worth investigating to determine
banks should ever be allowed to loan to
themselves. Trust companies should be
subject to the same supervision as banks;
legislation to this effect should be enacted
for the District Of Columbia and the ter
%rttories.
the wisest legislation on the subject can
O nly accomplish a certain amount. No
legislation can by any possibility guar
antee the business community against the
results Of speculative folly any more than
II can guarantee an individual against
the results of his extravaganza"
The income account Of the nation Is In
a most satisfactory condition. Neverthe-
less. the president says. there is an evil
among our people that the time is rap
idly approaching when our system Of
revenu legislation must be revised.
The TarfR.
This country is definitely committed to
the protective system and any effort to
uproot IL could not but cause widespread
Industrial disaster. In other words. the