The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-02-13

government the postal savings bank
funds would easily enable il To meet
secondly. 10 the funds are 10 be a-bi-
I trarily deposited I'm all banks. state and
national, without national supervision
over the State banks. and a panic were
TO come. IL is difficult 10 see how the
government could meet its obligation IN
It's postal savings bank depositors be-
cause with every bank suspeuding paw
meHt the funds of the postal savings
bank would be beyond the control of Tho
government and we should have fuan-
cal disaster greater ;hSn any panic We
nave heretofore met s provision that
when the money is not needed 10 invest
in government bonds or to redeem the
same, 't may be deposited I'm national
bank, IN the neiEhborhood Of tie place
OF deposit, viii avoid the great danger
of panic and will strengthen a banking
system which IS an arm of the Federal
government
I sincerely hope that before the meas
ure IS hammered into its final shape II
may take on those characteristics which
shall give IL constitutional validity and
sound financial strength and usefulness
Those who insist upon the elimination Of
those two necessary characteristics fea-
lures or the bin will put the party I'm the
position where it cannot hope 10 escape
the charge that st is not in good faith
seeking the passage OF 4 postal savings
bank act and is not seeking therefore TO
comply with the promise of the Repub-
hcan platform in that regard
In Relation To Railroads.
Eve approve the enactment Of the rail-
road rate law ard the vigorous enforce
ment by the present administration of
the statutes against rebates and discrimi-
nations as a result Of which the advan-
tages formerly possessed by the larger
shipper over the small shipper have sub
stanuaiIly disappeared. and in this con-
nection We commend the appropriation
by the present Congress 10 enable the
Interstate Commerce Commission 10 thor
oughly investigate and give publicity TO
the accounts OF interstate railroads We
believe. however. that the interstate COM
merce law should nc further amended SO
as to give railroads the right to make and
public traffic arrangements subject to the
approval Of the commission. but main
tanning always the principle Of competi-
ton between naturally competing lines
and avoiding the common control Of such
lines by any means whatsoever. We ia
vor such national legislation and super
vision as Will prevent the future over
carriers.
a dill To carry out these declarations
has been introduced IN both the House
and the Senate, and Is now being con-
sidercd before the appropriate commit
tees Of these two bodies. and there is
every hope that the bills thus introduced
in substantially the same shape as intro
duced viii pass and be enacted into law.
Indeed. this railroad measure goes fur-
Their than the promise Of the platform. for
while it subjects the issue OF stock and
bonds TO the restrictive supervision of
the commission and prevents future wa
tering Of securities and forbidS the acqui-
sition by railroad company of stock in
a competing line, it also puts very much
more power into the hands Of the COM
mission for the regulation OF rates. and
it facilitates in every way the case Of
supervision by the commission Of the rail-
roads 10 secure a compliance BY the rail
road with the rights of the public and Of
the shipper The bill was prepared by
the Attorney General after a full confer
ence with the Interstate Commerce Com
mission, with the representatives, OF the
shippers, and with the representatives of
the railroads. and while it was not the
result Of an agreement between all the
parties in interest il was drafted with
view TO meeting all the fair objections
and suggestions made by every one of
them
What the Platform Implied.
THE platform further provided: The Re |
publican party will uphold at all times the !
authority and integrity of the courts. State
md Federal and will ever insist that their
powers to enforce their process and TO
protect life. liberty, and property shall
De preserved inviolate. We believe how
ever, that the rules Of procedure i'm the |
Federal courts with respect to the issu- |
ince of the writ of injunction should be |
more accurately defined by statute, and
hat no injunction or temporary restrain |
hg order should be issued without notice, |
Except where irreparable injury would re- |
'ult from delay, in which case a speedy |
rearing thereafter should be granted.
bill to carry out exactly this promise |
las been introduced into both the Senate |
md House. and will, doubtless, come ND |
or cOnsideration ana nassara IT, -,