Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-03-19

centaee in rates Of duty ana an m
creased percentage OF arue'es on tine
free list
business has Increased and pros
pcritN Is here, Conditions ire an th"'
could be hoped for, according To- the
measure Of the business men. no"
long his condition VIII last; how
much 70 viii he affected by the con-
"struction 70 be nut on the anii~tfusi
law VIII not BE- known untu we nave
thr decision and leHfu- what feNl ei-
feet the decision Wili have.
We max been trying 10 cur down
expenses NJ Washington Ahe esil-
mates for the next fiscal year are S4S,-
100000 less than tire appropriations
for the current wear. IN the nevy we
eat down s10.o00, 0an, slved enough 70
continue the pplicg, however. Of two
battieships = yeaf until the compile
tion of the Panama canal. That WAS
ono OF the dearest policies OF my pre-
decessor-thc one he though perhaps
the most of-und / would ave felt the
keencst regret 10 haNe departed from
II in the first year of ny administra-
ton.
II would like. nov 10 direct your
attentiOn 10 the legislation which
none 10 get AT This session ~ congress
First ana most important are the
amendments 70 the Interstate CONF
merce act
The president then went into detail
| explanations of the bin which ne sAld
ne felt wa not generally understood.
He explained the necessity of "a com
merce court 10 hear appeals from the
interstate commerce commission. FIRST
Of an, 1t would expedite matters, ne
asserted.
Hence they work in favor Of the
railroads rather than the shipper. The
commerce court by avoiding the con-
venient delays of the past viii DC a.
long step toward tnat regulation OF
railroads. which we have been looking
for.
- second provision Of the bill ale
lows carriers to make traffic agree-
monts among themselves subject to
the approval OF the Interstate COM
mcrce commission. My predecessor,
IN hi. every message to congress, rec
commended this The provision does
not permit pooling. lt allows that
which The railroads nave 10 do any
way whether the law forhids ii or
not ! am ~ favor of allowing the
railroad. Fl run rightly and justly, To
run within the law.
other provisions Of the pending bin
we're taken up, one by one. Lastly. the
president came To that provision of
the law wnich has been lhe subject of
recent attack in the house OF represent
%tHtiyes 70 permit railroads already
owning 10 per cen of stock in another
railroad to purchase the remaining
mares,
some gentlemen seem t. think
thNt this gives the railroads too much
ieeWHy' said The president
AS % matter Of fact, it was insert
ed e. give the minority tockhoIdcrs
q market IL d railroad already owns
80 per cent of the stock il is 40 con-
Itrol The house committee has stricken
nnt this provision but my impress
sion IT, that after full consideration it
would he found advisable To- give this
opportunity To the minority stock
holders to market his holdings and
that the people lcast Interested in the
provision are tho railroad companies
From the railroad bill he passed TO
The postal savings bank measure
Vhtch already has passed the senate.
He said ne hoped it would pass the
Rouse and he iclt the enactment of
Che bill would prove the worth of the
institution.
IN the emil he predicted that in
stead uf hurting the banking bust
ness. il would iylprOve IL.
Next the president discussed the 500
called anti injunction bin which he
said was regarded by the American
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