The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1908-07-28
CANDIDATE Taft ACCEPTS
Continued From Page One.)

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may from time to time be necessary in
the settling of certain issues. which
may come up before them. and that no
evil or Injustice can come from val
aation in such cases if it is to be un-
derstood the result is to be used for a
just purpose and the right to a fair
profit under all circumstances of in
vestment in the railroad be recognized.
The republican platform recommends
legislation forbidding issue in the flu
ture of Interstate stocks and bonds
without federal authority.
1T may occur in such cases that the
full value of railway and as an ele-
ment thereof the value of the tangible
property of the railway would be a
revelant and important factor in as
sisting the proper authority to deter
mine whether the stocks and bonds to
be issued were to have proper secu-
rity behind them and i'm such cases
therefore there should be the right and
machinery 90 make q valuation of the
physical property. Another suggestion
in respect to the subordinate and auxil-
liary machinery necessary to carry out
the republican policies. is that of the
incorporation under nations law or
the licensing by a national license or
the enforced registry of companies
engaged in interstate trade
Nearly all corporations doing com
mercial business are engaged in in
terstate commerce and If they were
required to take out federal licenses
or federal charters. the burden upon the
would be intolerable. Possibly the OPP
Grafton of the antitrust law under eY-
listing rules of the supreme court gives
rise to the suggestion for its neces-
sary amendment to prevent its-applica
ton to such cases, which. it is be-
lieved, were never in the contempla-
ton OF the trainers of the statutes
Take two instances: A merchant or
manufacturer engaged in legitimate
business that covers certain states
wishes to sell his business and good
will and in the terms of the sale OBJ
ligates himself not to go into the same
business in those states. Such a re-
straint of trade always has been at
common law
Again the employees Of an interstate
railway enter upon a peaceful strike
to secure better wages. At common
law this it not restraint of trade or
violation Of the right of the company
or the public. Neither case ought to be
made violation of the antitrust law.
The suggestion OF the democratic plat
form that trusts be ended by forbid
ding corporation to hold more than
SO per cent OF the plants in any line
of manufacture, is made without Ne.
gard to possibility Of enforcement or
real evil or the fact that trusts or
corporations controlling 45 or SO per
cent Of the product may frequently af-
feet monopoly and stamp out eompe-
tition as completely as If they con-
troll so or so percent. The proposal
to compel every corporation to sell
commodities at the same price the
country over. allowing for transpor-
tation, is utterly Impractical. 1t is as
absurd and socialistic a plank as was
every inserted in democratic plat
form
The chief difference between a re-
publican and democratic platform is
the difference which heretofor has been
between Roosevelt and Bryan. Roose-
velts' policies are progressive and reg
ulative and Bryan's policies are de-
structive. The combination of capital
in large plants to manufacture goods
with the greatest economy is just as
necessary as the assembling of parts
of machine to bring about economi-
cal and more rapid manufacture of
what in old times was made by hand.
In the proper operation of companies
the public will soon share with the
manufacturer the advantage Of econo-
my in operation and lower prices.
When. however, such combination not