The Oskaloosa herald., 1910-08-04

1t may, therefore. be assumed that
they are remuneratiye. 49,
We failed in that effort, but as q
substitute for ID. it was provided that
the commission can suspendsfiew-fates
for period of ten months, and that
in all hearings as to the reasonable
ness of rates, the burden of proof shall
rest upon the railway companies.
We insisted that no injunction re-
straining an order of the commission
should be issued without notice, and
that there should be the right of APP
peal from any such injunction. The
bill was so amended, 44s
We contended that the shipper who
had complained to the interstate com
merce commission and had won his
case, should have the right to appear
in any suit that was brought by the
railway companies to annul his vic
tory. 1t is now in the law.
We urged that no greater jurisdict-
ion over the interstate commerce com
mission should be conferred upon the
commerce court than is now exercised
by the circuit courts, and the bill was
so amended.
We kept the antitrust law intact
We remembered that it had dissolved
two vicious traffic associations; that
it had annihiliated the Northern Sc.
eurities company; that itshad decreed
the death of the American Tobacco
company, and, finally, had sent the
terror of disfntegration into the ranks
of the Standard Oil company, and We
did not intend to see its Vigor impair
ed or it's scope narrowed until some
thing better could be enacted in its
stead. - .t
We attempted, with all the strength
we had, to put into the bill fair and
effectual provision which would have
prevented the issuance of stocks and
bonds without full compensation, and
that would have rendered impossible
hereafter the exhibitions of dishonesty
and extravaganza that have so startled
the world in last few years in hail.
way capitalization. ars ,,t
50 Wall Street interests.
Certain republicans who are enam
ored with the manipulations of Wall
street, joining themselves with certain
democrats who found no authority IL
the constitution for such legislation.
defeated our amendment.
We are not, however, without hope
for under the recommendation Of the
president a provision was adopted
which will insure an immediate invest
igation of the subject, and we may
shortly be more successful in our eff.
forts to regulate railway stocks and
bonds.
Upon the whole, the republican
party is to be congratulated upon the
bill, as it became a law. 1t Is a ste.
in the right direction and ultimately
we will reach the end toward which
all patriots are striving.
trust ! will not be accused of any
desire to stir UP fractional feeling TO
saying, as am bound to say, that ha
it not been for the progressive repubh
cans in the senate, men who have
been derided throughout the country
as insurgents, the bill would have
passed the senate as ii came iron
he pen of the attorney general, ant
the republican party would have stag
gered along in this campaign unde:
burden too heavy for any party t.
successfully carry.
Postal Banks.
Our platform of 1908 committed til
party to the establishment of posta
savings institutions. 1t is probabl!
true that Iowa needs such facilitiesfo
savings less than any other state il
the union, but nevertheless, / am con
WINGED that the policy is a wise one..
There are many parts of the coun,
try in which the banks are neither sc
numerous nor so near the people as
they are il Iowa, and whatever we can
do to encourage and stimulate habits
Of saving and thrift we ought to do.
The law passed by congress has, in
my opinion, two serious defects which
ought to be removed at the earliest
practicable moment.
\ First, we. have given to the board Of
trustees, which to manage the postal
deporitories, the discretion to desig.
nate such post Offices as it sees fit.
This discretion will be never ending
Irritation. 1t goes without saying that
the banks in any community will not
favor the designation of the post Office
in that community as depository. 1t
will be natural for the banks to resist
because the repositories are, in a
sense, competitors in business. There.
fore the board will be from the begin
ming the local point of all the political
influence that the banks can arouse
and direct.
The law should be amended so that
repositories are selected by some
standard, either of population or of
business, which could be applied in.
fiexibly to the whole country.
Second the most serious objection
to the law will be found in the DISPOSE
tion Of the money after 1t is gathered
at the post Offices. Until aifew weeks
before the bill passed 1t had never
been suggested that the money SO
taken In of the post Office was. under
any circumstances to be removed