Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1910-01-13
PRESIDENT TAFT AND HIS
POLICY.

POLICY.
We must congratulate Mr.. Taft
upon his good sense, his clearness OF
vision, his refusal to be shaken from
his purposes by the noise-making OF
agitators, and his persistent effort
for wise laws and sensible enact
ments. We have had in this state,
unfortunately, representatives of the
newspaper class that have been
quick to accuse the president of too
great friendship for the interests
and of forgetting the interests of the
people. Against these hasty conclu'
sions the Tribune has protested, in
sisting that the president would
make effort possible to carry out the
pledges of his party and his own
ideals. The Tribune still believes,
as it has believed, that Mr.. Taft's
administration will be marked by
legislation most effective in the in
terests of all the people, and not
antagonistic to the growth and well
fare of the nation.
A review of the presidents special
message by the St. Louis Globe-Dem'
ocrat is interesting and says.
A careful reading of the message
will show that the presidents recon-
mendations touching on the Hep.
burn interstate commerce law of
1906 and the Sherman antitrust act
of 1890 are not as radical as many
persons had feared they would be.
The president asks congress to es-
tablish a United States court of com.
merce, to be composed of five judges
of the United States circuit bench,
to have exclusive original jurisdic-
ton in certain classes of cases aris-
ing under the interstate commerce
law, so as to do some of the work
now devolving upon the interstate
commerce commission, and to ad-
just divergence between shippers
and railways more cheaply, expedit.
iously and amicably than at present.
And he would hama over to the de-
partment of justice the direction of
all the litigation under this act
which affects the government.
These changes would restrict the in.
terstate commerce commission to ad-
ministrative functions, instead of, as
now, endowing that body with legis.
lative and judicial duties also. In
a limited degree the president fav.
ors the granting of the pooling pri.
vilege to railways, due publicity to
be enforced in all of them. He
would prevent railways from buying
or holding stock or leases of COM
petlng roads; would forbid overissue
of stock; and require railroads, on
approval of the interstate commerce
commission as to the amount of
stocks and bonds which they can is
sue
Although almost half of the mes
sage is devoted to the antitrust law.
the recommendations of new legis-
lation in connection Herewith can
be stated in a few zines. The pres-
ldent urges the enactment of a gen.
eral law for the formation of corpor
attons engaged in interstate or for
elgn commerce, protecting them
from undue interference by the
states, and to prohibit such corpor-
'atlons from holding stock in other
"orporatlons' except for special
reasons, and under the approval of
the proper federal authority, thus
dealing blow at the holding com.
pany. For the more effective OPERA
ton of the antitrust act he recon-
mends legislation to provide for the
organization of corporations under
federal charters. This would 70.
move the difficulty which the cor.
porations encounter in their ATTEMPTS
to comply with the divergent and
sometimes conflicting requirements
of forty-six states. as at present. The
president makes it plain, however.
that he does not attack the Sherman
slaw, and that the federal charter
(which he urges would not give H.