Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1907-12-11
No BACKWARD STEP in WAR |
ON CROOKED CORPORATIONS
Militant Slogan Sounded by President in
His Message to Congress
Would Enforce the Laws as to the Rich
and Poor Alike
Greater Elasticity in Currency Declared to
Be Pressing Need

The antitrust law should not De re-
pealed but it should be made both
more efficient and more in harmony
with actual conditions. 1t should be so
amended as to forbid only the kind OF
combination which does harm to the
general public, such amendment to be
accompanied by, or to be an inciden
of. a grant of supervisory power to
the government over these big con-
Germs engaged in interstate business.
This should be accompanied by pro-
vision for the compulsory publication
of accounts and the subiection o.
books and papers to the inspection Ga
the government officials.
Combinations o. KID.
The government must now submit
to irksome and repeated delay before
obtaining final decision OF the courts
upon proceedings instituted, and even
a favorable decree may mean all
empty victory. Moreover, 10 attempt
to control these corporations by law
suits means to impose upon both the
department OF justice and the courts
an impossible burden; it is not feas-
ible to carry on more than a limited
number of such suits. Such 6 law TO
be really effective must OF course ne
administered by an executive body
and not merely by means OF lawsuits
Among the points to be aimed al
should be the prohibition of unhealthy
competition, such as by rendering
service at an actual loss for the pur'
pose OF crushing out competition, the
prevention OF imitation Of capital, and
the prohibition OF corporations max
ing exclusive trade with Itself a con
dition OF having any trade with itself.
Reasonable agreements between, OF
combinations of, corporations should
be permitted, provided they are first
submitted to and approved by sonAe
appropriate government body.
The congress has the power to char
tel corporations to engage in inter
state and foreign commerce, and a
general law can be enacted under TIE
provisions of which existing corpora
tons could be created.
Ample, safe and speedy transports
ton facilities are even more neces-
sary than cheap transportation. There
fore, 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 hours for their en-
ployas. Therefore, while there must
be Just and reasonable regulation OF
rates, we should be the first to pro
test against any arbitrary and I'M
thinking movement to cut them down
without the fullest and most careful
consideration of all interests CON
cerned and of the actual needs Of the
5. situation. Only special body OF men
acting for the national government
under authority conferred upon it ~
the congress is competent to pass
judgment on such matter.
The Currency
We need a greater elasticity in our
currensy; provided, Of course, that
we recognize the even greater neea
OF safe and secure currency. There
must always be the most rigid exam
nation OF the natiLnal authorities.
PROVISION should be made for an emer-
gency currency. The emergency issue
should, of course, be made with an
o7ta n l.
lions carefully prescribed by the gov
eminent. Such emergency issue must
De based on adequate securities APP
proved by the government, and must
De issued under heavy tax. This
would vermit currency being issuea
when the demand for 1t was urgent,
while securing its retirement when
the demand fell off. 1t is worth inyes-
tigating to determ. whether officers
and directors of national banks should
ever be allowed to loan to themselves
Trust companies should be subject T.,
the same supervision as banks; leg
islation to this effect should be en-
acted for the District of Columbia ana
territories.
Yet we must also remember that
even the wisest legislation on the sub
ject can only accomplish a certain
amount No legislation can by any
possibility guarantee the business
community against the results OF
speculative folly any more than it can
guarantee an individual against the
results of his extravaganza.
Revenue.
The income o. the nation Is in a
most satisfactory condition. For the
six fiscal years ena!ng with the frs,
c: July last, the total. expenditures ana
revenues of the national government
exclusive Of the postal revenues ana
expenditures, were, in round numbers,
revenues, $S.465, 100000 and expendi-
lures, s3,275, 100000. The net excess
OF income over expenditures including
in the latter the fifty millions expend-
ed for the Panama canal, was one
hundred and ninety million dollars
for the six years, an average of about
th,rty-one millions year. This repre-
sents 81 approximation between in
come and outgo which IL would be
hard TO improve.
The Tariff.
1t is probably well that every dozen