The Washington herald., 1910-08-29

all corporations. IL Is one OF the most
useful and important changes IN our rev
enue laws. as the future viii show IN
spite of the criticisms heaped upon II al
its passage no party responsible for rev.
enues or anxious to retain every means
OF legitimate supervision OF corporations
Will repeal II.
INTERSTATE COMMERCE.
The next most important work OF the
present Congress was the passage OF the
amendment 90 the interstate commerce
bill. The Republican platform favored
amendment 10 the interstate commerce
act With a view 70 giving greater power
10 the Interstate Commerce Commission
in regulating the operation Of railroads
and the fixing Of traffic rates, and also
favored such national legislation and SUI
pervislon as would prevent the future
Overissue OF stocks and bonds by inter-
state carriers. After the adjournment of
the Congress at its extra session. I in
vited two OF my Cabinet and q member
OF the Interstate Commerce Commission
and a member Of Congress 70 make rec
concentrations as 10 the needed amend
ments 20 the interstate commerce act.
These gentlemen reported 10 me, and In
September last. in a speech in Des
Moines. foreshadowed their recommend
atoms as I intended TO make them 70 the
Congress for the amendment OF the inter-
state commerce act:
First. by the establishment OF a COM
merce court; second. by empowering the
commission 10 classify merchandise as
by giving the right 20 a shipper 70
designate the route by which his goods
shall be transported beyond the line OF
the initial carrier; fourth. by empower
ing the commission 10 consider the JUS
tice or injustice Of any rate without the
complaint or initiation of a shipper; fifth.
by empowering the commission 20 sus-
pend proposed increases Of rates by car
riers until the commission shall have a
chance to pass upon the reasonableness
Of the increase: sixth. by provisions for
the Federal regulation Of the issue OF
stocks and bonds by interstate railways;
seventh, by a clause forbidding an inter-
state commerce railway company from
acquiring stock in competing road;
eighth. by a section permitting the max
Ing OF traffic agreements between com
peting railroads limited in point Of time
and subject matter. and subject to the
approval Of the Interstate Commerce
Commission.
These amendments were in accordance
with the text Of the Republican platform.
Subsequently. bills were drawn embody-
ing this recommended legislation, IN
which, while the principle was main
tanned. there were limitations introduced
as Justice suggested. after a conference
with all the parties interested. The bill
was submitted 10 Congress, aud after a
great deal of discussion. both IN the
House and the Senate. Il was enacted into
law, with many amendments which did
not materially change the effect OF the
recommendations except 20 strike out
certain provisions promised in the Re-
publican platform. 20 permit traffic agree
ments between railways in spite Of the
antitrust law, to forbid one railway com
pany to acquire stock IN a competing
company. and TO secure supervision bv
the Interstate Commerce Commission Of
the issue Of stocks and bonds by inter
state railways.
For this last was substituted a pro-
vision authorizing the appointment OF a
commission TO consider the evils arising
from the Over-issue OF stocks and bonds.
and the methods OF preventing such evils
by Congressional regulation. In addition
TO the purposes already recited accom-
pifshed by the bill. the so-called long
and short haul clause OF the existing
law-the one forbldding the charging of
a greater rate for less distance in
cluded in the greater distance. than for
the greater distence-was amended so as
10 vest in the commission somewhat
wider discretion in enforcing the clause
than has been permitted by the Supreme
Court decisions under existing law. More
over interstate telegraphs and telephones
as instruments OF commerce have been
brought within the regulation Of the com
mission.
The bin as at present m force IS an
excellent bill It IS not enacted in a
spirit OF hostility to railroads. but # sub
mits them 20 a closer and more effective
supervision by the Interstate Cononerca