Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1907-12-12
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Wy po.aelon8 could be created. An eS-
e % method Of predetermining by soms
FEDERAL board or Commission whether the
applicant for . federal charter was an
association as or combination within the re-
strlcttons Of the federal law. Provision
SHOULD also. be made !sr complete pub.
ncity in all matters affecting the public
and complete protection to the investing
of ana tn. II the .s
Incorporation law IL not deemed advisa-
PIE. license act for big interstate cor
porations might be enacted: or . COM
supervision established might be analo-
gous to that now exercised over national
banks: At least. the antitrust act
should should DO supplemented by SPECIFIC pro
ence has shown have been Of most serv-
ice IN enabling monopolistio combinations
to crush out competition. The real own
ers OF CORPORATION should be compelled
10 confer upon the national govern
msnt. in connection with the amendment
| advocate in the antitrust law. power
engaged in interstate commercs would
benefit them as it has, benefited the ma
tional banks. In the recent business
crisis It is noteworthy that the institu-
were not under the supervision and con-
troi OF the national government Those
which were under national control stood
the test 49,
W0uld DsneAt All.
National control OF the kind advocated
would be to the benefit OF every WELL
Those who fear. from any reason. the
extension OF federal activity. will do we'll
TO study the history not only OF the ma:
So but Of the G s~
recently enacted. The pure food law
was opposed 10 violently that its passage
was delayed for, decade. yet It has
T1sksd pnmiasd ana tnmsdi aHs, 1000 ne"ra
violently assailed. Two years have not
elapsed, and already it has become evil
dent that the great benefit the law con-
fers upon the public Is accompanies mp, a,,,n Dy
establishments. Tho latter are better on
under the law than they were without 1t.
The benefit to interstate common carriers
and business concerns from the legtsla-
es,a advocate would be equally mark-
Pure Food Law.
Incidentally. In tns passage of the!
pure, food law the action Of the various
state food and dairy commissioners show
the whole people results from the hearty
cooperation Of the federal and state Of
lcials in securing given reform 1t IS
primarily to the action Of these state \.
ment Of this law, for they aroused the
people, first to demand the enactment and
enforcement Of state laws on the sub
ject. and then the enactment of the FED
eral law. without which the state laws
were largely ineffective. There must De
the closest cooperation between the ma
tional and state governments In admin
istering these Laws"
Currency Laws.
The president again calls attention to
the condition of our currency laws and
i,rp Immediate
attention to this matter. He saws:
I'VE need greater. elasticity, in our
currency; provided OF course; that we We
and secure currency. There must always
he the most rigid examination by the ma
tional authorities Provision should M Re
emergency issue should. Of course. be
made with an effective guaranty. and
upon conditions carefully prescribed by
must be based. .on adeuuates securities. APP
issued under a heavy tax. This would
demand for it was urgent. while secur
ing its retirement as the demand fell off.
It. Is worth investigating to determine
banks should ever be allowed to loan to
themselves. Trust companies should be
subject to the same supervision as banks;
for the District Of Columbia and ID the nt ter.
ritories.
Yet we must also remember that even
the wisest legislation on the subject can
legislation can by any possibility guar
antee the business community against the
results Of speculative folly any more than
the results of his extravagance'
The income account Of the nation Is in
q most satisfactory condition. Neverthe-
dent and Constantly : growing row feeling nYl;
among our people that the time is ran
idly approaching when our system OF
revenue legislation must be revisad.
The Tarin.
This country is definitely committed to
this protective system and any effort to
uproot it could not but cause widespread
Industrial disaster. In other words, the
principle of the present tariff law could
Country Of Such phenomenal growth rTT ~ "a
ours 1t Is probably well that every dozen
years or so the tariff laws should be
carefully scrutinized so as to see that no
excessive or Improper benefits are con-
ferred thereby. that proper revenue is
provided. and that our foreign trade is
encouraged. There must always be az a
low for the collection Of an ample rev
enue but which will at least make good
the difference in cost of production here
and abroad.
purely from business standpoint: both
the time and the manner of. tho change
being such as to arouse the: minimum .Of
agitation and disturbance In the business
world. and to give the least play for sell
fish and factional motives. The sole con-
sideratton should be to see that the sum
total Of changes represents the public
good. This mean3 that the subject can
not with wisdom be dealt with in the
year preceding presidential election.
because as q matter Of fact experiences
has conclusively shown that at such a
time it Is impossible to get men to treat
it from the standpoint Of the public good.
In my judgment the wise time to deaf
with the matter Is Immediately after
such election
Income Tax and Inheritance Tar
when our tax laws are revised the
question of an income tax and an inner.
itance tax should receive the careful At
tention of our legislators. In INV i,1dp-
nent both of these taxes should be part
Of our system OF federal taxation"
Compulsory Investigation OF Indn.-
trial Disputes.
Strikes and lockouts. with their at
tendant loss and suffering, continue "a
decrease. For the five years ending Dee
81, 1905 the number OF strikes was
greater than those in any previous ten
years and was double the number in the
preceding five years. These figures in.
dictate the increasing need of providinp
some machinery 10 deal with this cla.s
OF disturbances in the interest alike: of
the employer, the employee, and the gen.
eral public. I renew my previous rec
ommendation that the congress fayora biy
consider the matter of creating fhnl ~ a.