Daily press. [volume] (Newport News, Va.) 1896-current, 1907-12-04

airl. a" as.:a,ial provision of such Il
law should he II metl,nl Ut p.cartcr.
mining hy'so,pr feicrsli hoard or com.
mission whcihgr the applicant for a
federal chnrtci' was oil association or
combination wltli.n tNp restrictions OF
The federal law Provision should also
bc mn,lc for complete publicity In Ill
matters affecting the public and com.
pletc protection Ia ;he Investing public
and the shareholders in the ,unttcr OF
issuing corporate securities If an In
corporation law Is not deemed adysa-
bic. II llcense act Tor biz. Interstate cor.
pora,lons might lie enacted or com
bination OF the two might be tried
The supervision established mlght he
analogous to that now exercised over
national bnnks. At least the anti
trust act should bc supplemented by
specific prohibitions of tho methods
which experience has shown have been
OF most service in enabling nonopolis-
tie combinations to crush out competi.
ton.
The rcul owners OF n corporation
should lie compelled TO TO business In
their own name The right to hold
stock In other corporations should here.
after b. denied 10 Interstate corpora
lions, unless ON approval by the proper
government oiIicinis. and prerequisite
10 such approval shonld bc the listing
with the government OF all owners and
stockholders, both by the corporation
owning such stock and by the corpora
ton In which such stoci- IS owned
Lessons of Recent Crisis.
To confer upon the national govern
ment IN connection with the amend.
ncnt | advocate IN the antitrust law
power OF supervision over big business
concerns engaged in Interstate com
,merce would benefit them MS II has
benefited the national banks. In the
recent business crisis 1t Is noteworthy
that the institutions which failed were
institutions which We're not under the
supervision aud control OF the national
government. Those which were under
national control stood the test.
National control of the kind above
advocated would lie to the benefit of
every well managed railway. From
the standpoint OF the public there is
need Tor additional tracks. additional
terminals and improvements In the nc
tual handling OF the railroads, and all
this US rapidly as possible. Ample,
safe ana speedy transportation facili-
ties are even moro 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 us far
rs Is possible better wages and shorter
hours FOR their employees. Therefore.
while there must he just and reascna-
ble regulation OF rates. we should be
the FIRST to protest against any arbitra-
ry and unthinklng movement TO cut
them down without the fullest nnd
most careful consideration OF all inter
ests concerned and of the actual needs
OF the situation. Only special body
Of men acting for the national govern
incnt under authority conferred upon 1t
by the congress Is competent TO pass
judgment OH such matter.
Those who fear from any reason the
extension of federal activity will do
well 10 study the history not only OF
the national banking act. but OF the
pure food law. and notnhly the meat
inspection law recently enacted. The
pure food law was opposed so violent.
ly that It's passage WAS delayed for II
decade, yet il has worked unmiyed and
immediate good. The meat inspection
Law was even, more violently nssailed,
and the same men who now denounce
the attitude OF the national govern
ment in sceliing TO oversee and control
the workings OF Interstate common car
riers and business concerns then as
serted that we were "discreliting and
running !; great American industry"
TWO years haze not elapsed. and all
ready 1t has become evident that the
great benefit the law confcrs upon the
public is Accompanied by IN equal ben
eft TO the reputable pac,sing establish.
mcnts. The Inter are better of under
the law than they were without II.
The benefit To interstate common car
riers and business concerns from the
Legislation advocate would be equal.
ly marked.
furc Food law.
Incidentally in the passage of the
pure food law the action OF the vari-
GUS state food and dairy commission
ers showed in striking fashion how
much good for the whole people results
from tic hearty cooperation of the
federal and state officials IN securing
a given reform. 1t g primarily to the
action of these state commissioners
that We owe the enactment of this
law. for they aroused the people first
to demand the enactment and enforce
ment of state laws on the subject and
then the enactment of the federal law,
without Which the state laws were
largely ineffective There must be the
closest ctl.eNcrnt.on hetWecn tic NJ.