Evening star., 1907-11-03
URGED TO CALL
AN EXTRA SESSION
The President Requested to
Summon Congress.
DEMAND FOR LEGISLATION
Desire of Leaders in the Financial
World.
MATTER BEING CONSIDERED
Suggestion Opposed on the Ground
That It Would Excite What z
MATTER BEING CONSIDERED

II is learned from undoubted sources
that President Roosevelt Is now belhs
urged TO call an extra session OF congress
70 deal with the financial situation. The
request comes from and represents the
Judgment of the conservative leaders IN
the financial world, who have represented
the present situation as one compelling
action of a character which will afhrma-
ttveIv eradicate ali ground for suspicion
Of American industria! methods.
Tho President has been assured from
most reliable sources that there Will be no
opposition on the part of the great IN
dusrries Of the country - the enactment
Of the rects ssary laws To carry out ms
ideas Of federal control TO the extent to
which he has expounded them in his re-
cent public utterances. These assurances
are made at this time TO avert what has
been represented as the most dangerous
situation which has confronted the coun-
try during an extended historic period
that is. the seeming growing lack OF con
fidcnCe based on known irregularities IN
business methods in some quarters, ana
no sure and speedy means Of separating
the good from the unsound.
To this end. II is suggested that the
President set Congress to the task first o
making such amendments to the hnancia
laws as will result in the maximum OF
fle xibility with the minimum of EaSlc
change in our system; next. and perhaps
most in Importance that the President en-
body his suggestions ON corporation con-
troll into suCcinCt recommendations Tor
enactment into law.
National Incorporation Law.
In this connection the Presidents atten-
tion has been directed to what he said at
Provincetown Mass, August 90 last: i
believe In a national incorporation law for
corporations engaged In interstate bus
ness | believe, Furthermore. that the
need for action is most pressing as re
CARDS those corporations Whl'h, because
they are common carriers, exercise a
uuasi-puhlic function, and which can be
completely controlled in all respects by
the federal government by the exercise OF
the power conferred under the interstate
commerce clause, and. If necessary, under
the post-road clause of the Constitution
The national government should
exercise over them a similar SUPERVISION
and control to that which it exercises over
national banks. We can Go TINS only py
proceeding further a.ong the lines marked
out hy the recent national leSls!auon.
almost every big bus ness concern Is
engaged in interstate commerce anu suCh
a concern must not b. allowed by deH-
ferrous shifting of position. as has been
too often the case in the past, TO escape
thereby a ! responsibility either 10 state o.
to nation"
To meet his views the President then
suggested amendments to the Sherman
antitrust law and the addition Of a CT m
ina clause TO that and the interstate com
mercc regulations. The benefit OF having
fedora legal machinery 70 detect and
eradict' g UNIV hOleSbmc business methods
at this time was said To be the desirable
end to b accomplished This would mean,
It is pointed out d pract cal wiping off of
the slate and starting afr@sh under bust
conditions which would nave anu
which could bear the closest public scru-