The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1910-01-15
TAFT'S MESSAGE
GOES TO SOLONS
Recommendations Of President
Are Well Received.
COMMERCE COURT is URGED

on some OF Which Action 10 cN
pected 10 BE peferred-Documen
10 Specific In Its Demands - Good
Trusts DO Not Exist Is Inference
from Language Used.
President Taft's special message on
the subject OF further legislation deal
ing with trusts and railroads has been
presented to congress.
On the whole the message was well
received. There is a pretty general
belief In congress that whine there Is
a good show for legislation amending
the interstate commerce law along the
lines recommended. the presidents
proposal OF law for the federal In
corporation OF interstate corporations
Is not likely 10 be acted on at the
present session.
The longest step forward taken by
the president is his recommendation
that congress enact a general law pro
viding For the formation OF corpora
tions to engage In trade and commerce
among the states and with foreign ma
tions. protecting them from undue ~
reference by the states and regulatin"
their activities so as 10 prevent the
recurrence under national auspices OF
those abuses which have arisen under
state control"
He would have such a law provide
that such corporations should issue
stock only TO an amount for which
each has been paid, or II issued for
property. 10 have the federal govern
ment pass on It's Issue. He would re-
quire also that such corporations shall
file complete reports OF tleir opera
tions with the department OF commerce
and labor.
The first part OF the message Is d..
voted to recommendations for amend.
ing the interstate commerce law.
These recommendation and the argu.
ments presented are in accord with
ideas advanced by the president In his
Des Moines speech last September. and
the speech delivered by Attorney Gen,
eral Wickersham al Kansas City, Nov.
10.
Important recommendations OF the
message Is for the creation OF a Unit
ed States court OF commerce 10 hear
appeals from decisions OF the interstate
commerce commission: that the inter-
state commerce commission re en-.
powered 10 investigate alleged rxces-
sive rates made by railroad companies
OF its own Initiative without waiting
for complaint 10 be filed: giving ship
pers the right 10 demand n statement
from any railroad OF the through rate
on Sny shipment and imposing fine
for failure TO comply or for misin.
formation; permitting the commission
to postpone for sixty days the time
within which an announced rate is Ia
become effective and prohibiting a
railroad company from issuing capital
stock without previous payment for n
OF not less than the par value or Is.
suing bonds or other obligations except
one year promissory notes without the
previous payment OF not less than the
par value Of such bonds or the market
value as ascertaned by the interstate
commerce commission.
Several times in the course OF the
message the president refers TO planks
of the Republican partys narionaI
platform OF 1908 and indicates his in.
tentlon of carrying out the pledges con.
tanned In the platform.
In that part OF the message relating
to the antitrust law his general ar
gument is that the United States su.
preme court has construed the law in |
such n way as TO render unnecessary
any legislation to exempt from prose
cution Interstate business combinations
which do not violate the spirit OF the
law through having an undue restraint
on trade.
The president let Il be known that
IL is his purpose 10 have the depart |
ment Of justice make an investigation
with respect 10 which there Is any
reasonable ground for suspicion that
they have been organized for n pur.
pose and are conducting business on
n plan which IL In violation OF the
antitrust law"
One OF the interesting features OF
the message Is his discussion OF good
trusts" and bad trusts" An infer.
ence from his remarks is that there
is no such thing as a good trust.