The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1907-12-04

sentlal provision OF such Il law should be
q method Of predotermning by some
Federal board or commission whether
the applicant for n, Federal character
was an association or combination with.
IN the restriction of the Federal law,
Provision should also be made for com.
| plcte publicity IN all matters affecting
the public and complete protection to
tho investing public and tho sharehold.
era IN the matter OF issuing corpolatc
securities III an Incorporation law Ia
not deemed advisable, a license act for
big interstate corporations might be On.
actcd or combination OF tho two
might bc tried, The supervision estab.
lished might be analogous to that now
exercised over national banks At least,
tho antitrust act should be supplement.
ed by specific prohibitions Of tho
methods which experience has shown
have been OF most service Ia enabling
monopollstie combinations to crush oui
competition. The real owners OF cor,
roration should be compelled to do husI.
ness IN their own name. The right to
hold stock In other corporations should
hereafter bo denied to interstate cor.
porations, unless on approval BY the
proper Government officials. and pre-.
requisite to such approval should be the
listing with the Government OF all own.
ers and stockholders. both by the cor.
poratlon owning such stock and BY tho
corporation In which such stock Is
owned,
To confer upon the National Govern.
ment, In connection with the amend
ment advocate IN the antitrust law.
power OF supervision over big business
concerns engaged In interstate commerce.
would benefit them as Il has benefited
the national banks, In the recent bust.
ness crisis II Is noteworthy that the In.
stitutions which failed weie lnstitu.
tions which were not under the super.
vision and control OF the National Gov.
crnmcnt Those which were under Ma.
tional control stood the test,
National control OF the kind above
advocated would DO to the benefit OF
every wellmanaeed railway. From tho
standpoint OF the public there Is need
tor additional tracks, additional ter.
minals, and improvements in the actual
handling Of the faihoad1, and all this
as rapidly as possible, Ample. safe. and
speedy transportation facilities are
even more necessary that cheap trans
portation. Therefore, taere il need fur
tho investment OF money which will
provide for all these thing. while at the
same time securing as lar as II pos
sible better wages and shorter hours for
their employees, Therefore, while there
must be Just ami reasonable regulation
OF rates. We should be the first 10 pro.
test against any arbitrary and unthink.
ing movement 10 cut them down with,
out the fullest and most careful con
sideratipn o. all Interests concerned anI
of the actual needs at the situation.
Only special body of men acting for
the National Government under author.
ity conferred upon /, BY the Congress
is competent TO pass judgment on .uch
u matte,.
Those who ear, from any reason, the
extension 0 Federal activity win do well
to study the history not only 81 the nu
tional banking act but OF the pure. fool |
law. and notably the meat inspection
law recently enacted, The pure food
law was opposed 30 violently that It's
passage was delayed for a decade; vet |
II has worked unmixed and immediate |
good. The meat inspection law was even
more violently assailcd; aud the same
men who now denouuce the attitude OF |
the National Government In seeking TO !
oversee and control the workings Of In.
tcrstate common carriers and business
concerns, then asserted that we were
'discrediting and running great Ameri.
can industry" Two years have no.
elapsed, and already il has become eyl.
Dent that the great benefit the law con.
ters upon the public Ia accompanied By
an equal benefit TO the reputable pack
ing establishments. The latter are bet.
ter OH under the law than they we're
without it, The benefit to the inter.
state common carriers and business con.