The weekly chieftain. [volume] (Vinita, Craig County, Okla.) 1905-1913, 1910-02-25

rest within the exclusive control Of
the several states; as to national SUBJ
jects they are worse than useless,
"All cooperation in matters pollti-
cal means government, and why resort
to mere understanding without bind
ing force among the states, when we
have common government to deal
with common cause? Why not have
our federal government legislate
where our government can only con-
fer and recommendg'
The need and purpose Of federal
control Of corporations, the secretary
stated he believed to be simply to
place a private business company in
it's commercial activity precisely
where the constitution undertook 70
put the citizens Of the United States.
The purpose is to organize companies
that may engage in interstate com
merce under regulations fixed by the
federal government and free from the
unnatural and uneconomical embar-
rassments which so far any state has
been at liberty to interpose."
Another phase of the question dis
cussed by the secretary was the in
ternational commerce Of the country,
Up TO the present time, he said, the
country had rested on the belief that
development Of domestic commerce
was sufficient. Other countries felt
the need OF international commercial
development long ago and the United
States, he urged, bust do all that was
necessary to meet what its competi-
tors were doing in that line.
I'VE are now engaged in establish
ing relations with foreign countries"
continued the speaker looking for
the opportunities of our commerce In
their midst. We are shaping our
treaties to secure open doors and
equal rights with other countries In
what form shall this commercial en-
terprise make its appearance in other
countries If not in the form of the
accepted corporate organization?
Does II stand to reason that we
can successfully depend upon a cor
poration large enough to engage in
foreign commerce, and at the same
time too large to be admitted by most
OF the states composing our own un-
iong VIII it be seriously contended
that we will be blind enough to en-
gage in foreign business under federal
protection. and at the same time per-
NIT individual states of the union to
cut the pins from under this same
commercial organization at home?
We cannot hope to succeed with such
an inconsistent and ruinous a sys-
TEN.
apart from all the embarrassments
which antagonistic and conflicting
state legislation has so far created
1t appears to me that contemplation Of
the future Of our foreign commerce In
itself absolutely settles the need for
an intelligent, bold and comprehens-
i've scheme for the organization Of
commercial enterprise under the same
authority under whose charge that
enterprise is to 90 forward"
The secretary agreed that confusion
no doubt would result in the states
with the adoption of federal eorpor-
alton law and that serious question
would arise with respect to the sub
ject Of taxation. but be urged that It
should at all times be remembered
that the creation of federal corpora
tion was within che control of the
people OF the United States. No hard
and fast rule he said existed as to the
manner IN which taxes to be paid b.
such an organization shall be appor-
toned, but he anticipated no insur.
mountabe difficulty to be presented
in this matter with respect TO the in
dividual corporation, and he saw 90
reason why the federal corporation
law should not provide for the assess
ment Of tangible property, and for the
taxation of shares in such manner,
that exact justice and protection will
be Afforded individual states and To-
calities"
As TO apprehension that federal
corporation statute would permit
large concerns to escape some Of the
laws inhibitions provided against
them. the secretary had no fear
"If tho mere amount Of capital" he
said, rs in itself to be recognized as
an objection. then there is no reason
why the federal law should not fix
such a limit as may be found reason.
able and safe. But Is Is believed that
the real objection 10 large corpora
tions in our country goes 70 the mon
opolistic character Of the concerns
In that respect a federal corporation
law would prove. in my judgment, IN
flnitely more effective than have the