The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-06-16
THE FINISHED RAILROAD BILL.

THE FINISHED RAILROAD BILL.
The last amendments to the Federal
railroad bill have been made and the
final passage of the bill is in sight.
After several days of conference. Mr..
Mann led the House conferees in
,successful revolt against the domino
f+ion OF Senators Isllttns and Aldrieh
and won some substantial victories for
his House The conference bill, &C
tcepted by the majority of both COM
-n.ttees, has been introduced in the
ssenate, and will probably be approved
to-day. 1t will then so to the House
iand by the first of next week should
ae ready for the Presidents sigma
ture. AS this is assured, the bill will
sprobably be in force. as it stands to.
day, within about ten weeks
The finished bill is very different
from the measure which President
TAFT suggested TO Congress in spe-
,rial message during the early days of
The session. 1t IS far less stringent
law in many respects. and is much
tless sweeping in its provisions 1t
docs not provide for Federal iucorpor-
ation, as Mr.. TAFT proposed, and its
iprovisions for the regulation of rates
iare surrounded with much more
,red tape than in the first draft OF the
bill 1t is. in some respects, less
Federal measure than it was; but in
lother respects it places rate regula-
ition more completely in the hands OF
sthe Federal Government than ever be-
fore.
only a bitter partisan will fail to
see that there are good features in
ithea hill, despite its Republican paren-
ltage.to If it operate at all, and if Its
machinery be not too ponderous to be
in any wise effective, 1T should GER
f1ainly expedite the settlement of rate
disputes. For example, if d railroad
announce new freight tariffs. the In
terstate Commerce Commission can at
once Investigate the Justice OF any in
Greases proposed by the railroad. ii
unfair, it can at once suspend then
N-or u period of ten months. In tn,
1. meantime. a test of the rates can b
made in the Court of Commerce an,
an adjustment made by order of TIL
icourt. This will obviously do ava,
with the almost interminable delay
that attend rate hearings under the
present law. though the method o!
procedure in such hearings is so un-
.fair TO the railroads that they viii lose
as much as they Will gain by having
their new rates promptly passed on.
Then, again, if Federal regulation of
srailroads We're desirable on principle.
the safeguards which the new bill
throws about the issue of stock might
DE a benefit TO trade. The bin does
not require the consent of the Federal
Government TO The issue of new stock,
and it does not contain the original
ipooling provisiots sut,.it gives the
president powtr 10 investigate new
stock issues and places power in the
BANDS of Congress TO regulate such is
sues upon,report of the President. This,
i've think, would be q wise restriction
fof law. If it were ever wise for the
Government thus to interfere in bust
mess.
These are the two best features OF
the bill, though neither of them is IN
mixed with evil Allowing every,
thing possible for every possible
good feature of the bill. ant
putting aside some of its feature.
as neither good nor bad. since the.
have not been tested by time. there i
enough evil in the bill TO condemn i
in theory and in practice
There are at least three great oh
Jections 10 The bill. In the first place
the Court of Commerce, established b.
the bill. is an anomalous body, organ
lied contrary 10 the spirit OF the Con
stitution. In this Court" as it i
called, all rated disputes win be near,
and ali rate decisions will be reached
There will be no other business befor
the Court, and there viii be nothin,
to prevent its members from becoming
most proficient in their Judgment o
rate questions. This much is admit
ted Yet in This Court, procedure
10 be regulated by the Department d
Justice and the Attorney General is i
act as prosecuting officer. If the All
lorney-General want TO prosecute
railroad. The Court must hear his con-
plant and must thy the case on ii
merits but II the Attorney-G Genera
decline, for any reason. to prosecut
q railroad. the Court has no way {
reaching offending companies or
correcting unjust rates, In 9th,
words, we have form OF Court,
which there are judges, hut in whic
an Executive Officer, the Attorne.
General has the power 10 dictate
the Court what cases il shall near an