The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-06-11


Ing stringent restrictions and limita-
lions upon the organization of the cor
poration and the issuance of its stock
together with a provision for federal
supervision over it's affairs. None OF
those amendments were adopted.
voted against all of them.
This was not a government enter
prise, but was charter authorizing
private individuals to incorporate and
build the canal. It was necessary OF
course to sell the stocks and bonds OF
the corporation in order TO secure the
money to dig the canal I believed the
building of the canal would be a very
important factor in the commerce OF
the country, and believed that II the
restrictions and limitations proposed by
the LaFollette amendments were placed
upon the bill, that capital could not be
secured to build the canal. Senator
Benson, then my colleague in the SEN
ate. now associate justice of the su-
preme court. voted with me against all
those amendments which were opposed
also by Senator Nelson, who had
charge of the bill. and by Senator
Knox, who championed 1t. There were
other restrictions and limitations in
the bill which believed would be suffi-
cient to adequately protect those who
Invested in the stocks and bonds OF the
corporation. The bill became a law In
the summer of 1906 without the LaFol-
lcLLe dTnelOm6ItS, DuL CueTc WcIc 81
many other restrictions in the bill that
capital could not be secured to finance
the enterprise and nothing has ever
been done under the charter granted
by congress. This bill shows the use
lensness of extreme and radical legis-
lation, and demonstrates the unwisdom
OF much of the radical legislation
against corporations that has been sug-
gested in the past few years.
President Roosevelt also approved
and signed this bill without the La
Toilette amendments as 1t was agreed
to by the house and senate.
Ship Subsidy. ..,
The charge is as follows:
ION pages 2550-1, Senator Long took
the Wall street end of the ship subsidy
proposition and voted to give trust
owned and trust-controlled ships $40.-
1000 as against all Others"
This was senate bill 529, known as
the shipping bill. 1t passed the senate
at the first session of the Fifty-ninth
congress. I voted for the bill when it
passed the senate. yeas SO, noes II. The
bill was considered in the house at the
next session, was materially amended
and returned to the senate where it
was defeated by a Democratic filibus-
ter led by Senator Carmack of Tennes-
see.
have always voted for bills that
had for their purpose the upbuilding
OF our merchant marine and the restor-
alton OF our flag on the high seas.
have always considered it a national
shame and disgrace that the exports
and imports of the United States are
largely carried under foreign flags. Mr..
White says that in voting for this ship
ping bill 1 voted to give trust-owned
and trust-controlled ships $40, 900, 900 as
against all others, and that 1 took the
wall street end of the ship subsidy
proposition. If l stood in with Wall
street when 1 voted for this bill, what
does Mr.. White say as to President
Roosevelt's attitude when he recon-
mended this particular bill in the fol-
lowing language (annual message, I'd
session, Fifty ninth congress):
Let me once again call the attention
of the congress to two subjects con-
corning which 1 have frequently before
communicated with them. One is the
question of developing American ship
ping. / trust that q law embodying in
substance the views or a major part
or the views expressed in the report on
this subject made before the house at
It's last session. will be passed 1 am
we'll aware that in former years OBJ
Jectionable measures have been pro-
posed in reference 20 the encourage
inent Of American shipping. but it
seems to me that the proposed measure
is as nearly unobjectionable as any
can be-
During the last night of the session
or congress just adjourned, 1 advised
President Roosevelt that I had been
criticized for my vote on the shipping
bill cast two years ago. He told me
to read his letter to Congressman E,
NJ Pollard of Nebraska, written March
-, 1907 He said it contained his views
In detail on the question of encourage
ment to our merchant marine He sent
me copy of the letter and will read
some extracts from it. for it is ad-
dressed to a congressman in an all.
Joining state and discusses the cues
ton from the standpoint of that cor
gresham. The president says in tho
letter:
81 have received your letter of March
O. feel that it is due not only t.
you but to the other western congress.
men, the congressman from the inter.
Tor states, who voted for the ship sub.
sidy bill, that 1 should express to Won
not only for you but for all of then
also, the reasons why 1 think YOU have
rendered a great and patriotic service
AT the outset let me emphasize the
fact that the present proposed shir
subsidy bill has nothing whatever In
common with certain previous meas
ures of the same name. There were
well-tirned objections to certain feat
ures of these previous measures, but
in the present measure all the obiec.
tionable features have been eliminat.
ed. / should heartily favor the pres.
ent measure in any event, but the ex
perience of Secretary Root on his triI
10 South America and the course O,
events in the Pacific seem to me t.
render 1T of the utmost consequence
TO pass the proposed bill. AS a mat
ter of fact, my only objection to it il
that it does not go far enough. 1 per
sonally, for instance. would like to Sc,
a line to South America from one O
our gulf ports. I feel that you mel
from the west who stood by tn,
cause or American shipping in sup
porting the ship subsidy bill deserv
the same praise that should be &C
corded to those men of the sea-coas
region who voted for and by thei
votes succeeded in establishing on
present system of national irrigation
In the states of Kansas, Nebraska an,
the Dakotas, westward to California
OrapOn and WaahiO ptnn