The Globe-republican., 1908-05-14
DODGE CITY. KANSAS. THURSDAY. MAY "a 1908

lhese creatures ot the law are his he
man the law No longer will men ex
calm thal the great burning issue II
America h whether the state Is to con
tf0l the corporations or the corporation
control the state. The question is set
tied forever and seftl d-as all question:
are ultimately settled under our system
ol goVernment--ln the interest of thu
people
.heie viii be other battles to fight foy
those who believe In governmental con.
trol and regulation Of corpora ions, but
Inc great decisive battle WIS fought and
won IN the fiffy-nintb Congress, and we
have entered upon the new era from
which we will never iecede.
Bv the things have mentioned and
others OF almost equal importance will
the Administration Of Theodore Roose-
yelt be judged in history. They indi-
cate the staIesmenship Of the President
and his advisers.
AS one Representative, having in
common with the other Members of the
House the burden of responsibility cast
on me, feel that it Is the duty of the
Congress, as soon as may be, to enact in
10 law many of The suggestions the
PRESIDENT has submitted In his recent
messages, and in the brief space of time
remaining want to refer briefly to some
of lhem
TOO long have the people suffered
from the evils Of over capitalization OF
carrying and industrial corporations
Everyone of those corporations is organ.
lied for the purpose Of trade with the
public, and every dollar of watered stock
Issued is al unjust burden upon the
public, which it has a right to protest
againt,
IL is familiar story how railroads
have been built in this country with
money secured from the investing public
by the sale of the mortgage bonds of the
company, and in addition there have
been issued to the incorporators and
promoters the stock of the company
equal to or greater than the amount of
bonds for which the holders paid little,
If anything. The patrons have been called
on, through unreasonable rates, to pay
the interest on The bonds, provide a sink
ing fund for their payment and pay
dividends on the stock.
1t isa familiar story how both the
carrying and industrial combinations are
formed and the property of the former
firms and corporations exchanged for
vast sums in excess of their actual value,
measured in the stock of the new concern
and the public, who must eat and must
be clothed and housed. are, in fact, tax
ed upon the necessities of life to fill the
gap between the actual and fictitious
values of the property and make the
stock dividend paying and worth
hundred cents on the dollar. Why
should Congress hesitate to enact legis-
lation to prevent such practice in the
future by all corporations engaged or to
engage In interstate commerce?
With some of the greatest lawyers In
he country among Its membership. II ,
'an, if it will, devise and pas effective
egi'lation along these lines within
'easonable time, and it cannot escape
espOnsibility If ii does not.
The Government having of necessity /
lnder existing conditions entered upon 1
he task Of regulation and control of
common carriers engaged in interstate G
commerce cannot now stop in the middle q
# the stream. 1t must 90 on wherever g
here is actual need for further extension +
# regulStion within the constitutional il
'ower of Congress to provide it; not in Il
pirit of destruciiveness aud not by )
asty or III considered action, but Ger a
ainly and surely, sanely and con- n
ervf ftively, in the interest of the people e.
Tho look to the Government for the o
xercise of It's proper powers for their ..
rejection. o,
As the railroads are highways of a Il
alton, every person is entitled to use Il
lem upon equal terms with every other o,
erson and also upon reasonable terms, g.
ID the latter can not be secured in fact III
ntil the Interstate Commerce Com, al
ission has the power to initiate pro. W
'edings for the reduction OF rates. m
The benefits of the present law can m
1t be obtained without great expense, to
lippers and communities are to. dav CO
ferlng from the imposition of un- ur
asonable and discriminatory rates be- m
use of the expsase and hardship of th
mmenclng and prosecuting a pro-
eding before the Commission, The ia,
ate of Kansas, realizing the need of N,
sisting Its local communities to obtain We
st rates, has appropriated money from tn
treasury to assist Its people. In main
ming proceedings of that character be-
70 the Interstate Commerce Com.
ssi0n.