The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-04-15
POLITICAL GOSSIP.
CONTINUED from Page One.)

vice corporations may issue. Yet
Senator Long has continually voted
against giving the Interstate Com
merce commission such supervision.
During the first session of the
Fiftyninth congress a bill was passed,
authorizing the construction of a ship
canal between Lake Erie and the
Ohio river. The company that sought
to construct this canal proposed to
issue 100000 per mile in stocks and
bonds. Senator La Toilette stated in
speech on the floor of the senate
that, after careful investigation, it
was clearly evident that it would not
cost anything like 100000 per mile
to build the canal. He declared that
loading the enterprise with this
enormous Indebtedness was unjustly
placing perpetual mortgage on the
commerce that would pass through
its locks. He offered an amendment
to the bill, giving the Interstate Com
merce commission power to limit the
issue of stocks and bonds to an
amount that was actually necessary
for the canals construction and
equipment.
1.-THE provision of the amendment
was just and in perfect harmony with
the policy of the president Yet Sena-
tor Long voted against it.
La Toilette then offered another
amendment. providing that not to ex-
should be incurred until an estimate
of the cost of the construction and
equipment of the canal had been filed
with the secretary of war, the purpose
being to give to the public some knowl-
edge of the approximate cost of the en-
terprfse. Senator Long also voted
against this amendment.
Senator Patterson of Colorado then
offered an amendment providing that
bonds should not be issued in excess of
the stock, which had been authorized
and old for cash, at a price not less
than per cent below it's par value.
Senator Long voted against this
amendment.
'As far as have been able to ascer-
tain from an examination Of the SEN
ator's record, he has voted against ev-
cry proposition that has been before
congress aiming at the restriction of
the power of the directors of public
service corporations to issue unlimited
amounts OF stocks and bonds, regard
less of the cost or value of the property
IF Senator Long is SO ardently for
Roosevelt, why does he not favor the
enactment into law Of the policies
which the president advocates?
What the people Of Kansas are in
terested In are the policies which
Roosevelt stands for, more than in the
personal fortunes of the president him
self. They are for Roosevelt because
OF the things which he advocates, be-
lieving them to be for the public good.
I'm his message to congress in De-
cember, 1907. on page 8, the president
says:
"A law should be so framed as to
give the Interstate commerce commits
sion power whenever in its
Judgment II Is necessary to make a
physical valuation Of any railroad
'In his Indianapolis speech, in dis
cussing this question, the president
said:
Ample provision should be made by
congress- to enable the interstate com.
fnerce commission, by the employment
Of a sufficient force of experts, to un.
dertaI<e the physical valuation of each
and any road in the country, whenever
and so soon as, in the opinion of the
eommission. such valuation of any