The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1908-07-11

the United States. Among the addi
tional remedies we specify three:
First a law preventing a duplication
of directors among competing corpora
tions; second, a license system which
will without abridging the right OF
each state to create corporations, or
its right to regulate IS 1t VIII foreign
corporations doing business within It's
limits. make Unnecessary for manu-
featuring or trading Corporation en-
paged In interstate commerce to take
out a federal license before II shall
he permitted TO control as much as
o5 per cent OF the product In which
II deals the license to protect the pub
lie from watered stock and TO pro-
hihit the control of such corporations
Of more than so per cent of the total
amount of any product consumed In
the United States; and, third, law
compelling such licensed corporations
to sell to ell purchasers in all parts
of the country on the same terms,
after making due allowance for cost
of transportation.
Railroad Regulation.
We assert the right of congress to
exercise complete control over inter
state commerce and the right OF each
| state to exercise like control over
commerce within It's borders
We demand such enlargement OF the
| powers of the interstate commerca
| commission as may be necessary to
| compel railroads to perform their du'
| ties as common carriers and prevent
| discrimination and extortion.
| We favor the efficient supervision
and rate regulation of railroads en-.
| this end we recommend the valuation
| of railroads by the interstate com
| merce commission, such valuation to
take into consideration physical val
ues of the property, the original cost
of reproduction and all elements oi
value that will render the valuation
made fair and just
We favor such Legislation as will
prohibit the railroads from engaging
in business which brings them into
competition with their shippers, alst
lesislation which will assure such re
| duction in transportation rates as con
dttions will permit, care being taker
to avoid reductions that would compe
a reduction of wages, prevent sdc
quate service or do injustice to legiti
mate investments.
| We heartily approve the laws pro
hibiting the pass and the rebate anc
we favor any further necessary leg
islation to restrain, control and pre-
vent such abuses.
We favor such legislation as will In
| crease the power of the interstat
commerce commission. giving to 1t tn
initiative with reference to rates an
| transportation charges put into effec
by the railroad companies, and permit
ting the interstate commerce commits
sion, on it's own initiative, to declar
a rate illegal and as being more thal
should be charged for such service.
Banking
, The panic of 1907, coming withou
? any Legitimate excuse, when the r.,
: publican party had for a decade bed
in complete control of the federal 60,
ernment, furnishes additional proc
that it is either unwilling or incon
| petent to protect the interests of tn
, | general public. 1t has so linked tn
| country to Wall street that the sin
1 | of the spectators are visited upon tn
, | whole people.
We believe that insofar as the need
of commerce require an emergenc
currency should be issued, oontrolle
: by the federal government, and loane
p on adequate security to national an
( state banks. We pledge ourselves
| legislation under which the nation
J. banks shall be required to establish
/ guaranty fund for the prompt pa
y ment of the depositors of any insolvei
d national bank, under an equitable sy
y tenn which shall be available to q
l. state banking institutions wishing
}. use 1t.
o We favor postal savings bank
y the guaranteed bank cannot be 8
l. cured, and that it be constituted
n as to keep the deposited money In Il
l. communities where it is establishe
'r We favor an income tax as part
II our revenue system, and we urge Il
| submission of constitutional amen
IS ment specifically authorizing congre
o to levy a tax on individual and corp
70 rate incomes, In the end that veal
n may bear its proportionate share
D. the burdens of the federal Cover
% ment.
'l Labor and lnjunctions.
The courts of justice are the b1
wark of our liberties, and we yield
- none in our purpose to maintain the
: dignity. We resent the attempt
- the Republican party to raise false
- sues respecting the judiciary 1t
!. an unjust reflection upon a great bo
of our citizens to assume that tn
lack respect for the courts.
- Experience has proven the necessi
20 of a modification of the present Ii
- relating to injunctions, and we
- iterate the pledge of our national pl
form of 1896 and 1904 In favor of {
Ier measure which passed the Unit
States senate In 1895, but which
f.