The Miller sun. (Miller, Hand County, S.D.) 190?-19??, 1907-12-07
TAKE OUT FEDERAL CHARTERS
AND NEW FEDERAL CORPORA
TIONS COULD BE CREATED.
License as an Alternative.


TIONS COULD BE CREATED.
License as an ALTERNATIVES.
An essential provision Of such law
should be method of predetermining
by some federal board or commission
whether the applicant for federal
charter was sp association or comDi-
nation within the restrictions OF the
| federal law Provision should also De
made for complete publicity in all mat
| tiers affecting the public and complete
| protection to the investing pubic ana
! the shareholders in the matter OF issu-
| ing corporate securities. II an incor-
| poration law Is not deemed advisable
/ O license act for big interstate corpor-
| atoms might be enacted; or q comol-
nation Of the two might be tried. Inc
supervision established might be an
alogous TO that now exercised over ma.
| tional banks. At least, the antitrust
act should De supplemented by specific
prohibitions of the methods which eA-
perience has shown have been OF most
| service in enabling rnonopolistic COM
binations to crush out competition. The
I real owners of q corporation should be
compelled to do business in their own
| name The right to hold stock in other
corporations should hereafter be de-
MED TO interstate corporations unless
| on approval BY the proper government
| officials, and q prerequisite TO Such APP
prevail should be the listing with the
| government of all owners and 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
| power OF supervisors over big business
| concerns engaged III Interstate COM
merce would benefit them as 1T has
! benefited the national banks. In the
recent business crisis il is noteworthy
| that the institutions which failed were
| institutions which were not under the
supervision and control of the national
government Those which were 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, and improvements in the
| actual handling of the railroads, and
| all this as rapidly as possible. Ample,
safe and speedy transportation facil-
I 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
\
| hours for their employees. Therefore.
while there must be just and reason
able regulation of rates, we should be
| the first to protest against any arbi-
| trary and unthinking 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-
| cial body of men acting for the ma
| tional government under authority con-
| ferred upon it by the congress is COM
| petent to pass Judgment On such a
| matter.
| Pure Food Law a Success.
| ...-..'.. ........,. $4,000. 49,
/: Those who fear, from any rea- :
| son, the extension of federal ac- :
| tivity will do we'll to study the :
history not only of the national ::
banking act but OF the pure food :
| law, and notably the meat inspec- ::
ton law recently enacted. The ::
pure food law was opposed so vio- ::
| lently that its passage was de- I:
| /: layed for a decade; yet it has ::
=: worker unmixed anG Immediate ::
!: good. The meat inspection. law ::
| was even more violently assaulted; ::
| and the same men who now de- ::
!: nounce the attitude OF the ma ::
| tional government in seeking to ::
/: oversee and control the workings ::
I OF interstate common carriers ana
business concerns, then asserted !:
that we were "discrediting and ::
| running a great American Indus !:
| try" Two years have not elapsed, ::
| and already ii has become evident ::
! that the great benefit the law con- !:
| fers upon the public is accom- ::
| plisled by an equal benefit to the !:
| reputable packing establishments. ::
| The latter are better off under the ::
| law than they were without 1T. The ::
| benefit to Interstate common car !:
| riers and business concerns from !:
| the legislation / advocate would De !:
| equally. marked. !:
-. . : . . . - . :
Currency Reform Needed.
| In my message to the congress year
ago / spoke as follows of the currency:
II especially call your attention 10
| the condition of our currency laws. Inc
| national bank act has ably served
| great purpose in aiding the enormous
\ business development of the country.
| and within ten years there has been an
| increase I'm circulation per capita from
| $21 Al to $33.0S. For several years EVIL
| dence has been accommodating that adj
| ditional legislation is needed. The re-
| currence of each crop season empha-
| sizes the defects OF the present laws.
4 There must soon be a revision OF them
| because to leave them as they are
| means to incur liability of business dis
l aster Since your body adjourned
| there has been a fluctuation In the in
I terest on coll money from z per cent.
/ tn 20 Der cent and the huctuation was