Perth Amboy evening news., 1910-08-29


creases OF rates by carriers until the COM
mission shall have a chance to pass upon
the rea~sonableness of the Increase; sixth,
by provisions for the federal regulation
of the issue of stocks and bonds by inter-
state railways; seventh, by a clause for
bidding an Interstate m railway
company from acquiring stock in a corn
peting road; eighth, by a section permit
ting the making Of traffic agreements be-
tween competing railroads limited in point
of time and subject matter and subject to
the approval of the interstate commerce
commission.
These amendments were in accordance
with the text ST the Republican platform.
Subsequently bills were drawn embody-
| ing this recommended legislation, In
which,. while the principle was main
tained. there were limitations introduced,
as Justice Suggested, after q conference
with all the parties interested. The bill
was submitted to the congress, and after
a great deal of discussion both In the
house and the senate 1t was enacted into
law, with many amendments which did
not materially change the effect of the
recommendations except to strike out
certain provisions promised in the Repub-
lican platform, to permit traffic agree
ments between railways in spite of the
antitrust law, to forbid one railway COM
panY 10 acquire STOCK III u competing
and to secure supervision by the
interstate commerce commission of the
issue of stocks and bonds by interstate
railways.
For this last was substituted a provi-
sion authorizing the appointment of a
commission to consider the evils arising
from the overissue of stocks and bonds
and the methods Of preventing such evils
by congressional regulation. In addition
IN tbP nIIrnOGnS already rppited accom-
plished by the bill. the so called long and
short haul clause of the existing law
the one ~forbidding the charging of q
greater rate for a less distance included
In the greater distance than for the great
err distance-was amended so as to vest
In the commission somewhat wider dis
erection In enforcing the clause than has
been permitted by the supreme court de-
cisions under existing law. Moreover, in
t~erstate telegraphs and telephones have
been brought within the regulation of the
commission. The bill as at present In
force is an excellent bill. 1t is not en-
acted in a spirit of hostility to railroads,
but 1t submits them to a closer and more
effective supervision by the interstate
commission to avoid injustice
in their management and control.
The important part that railways play
as the arterial circulation in the business
of the country, the million and a half of
LHSlT employees dUu LIlH TQllllOn OF their
stockholders, the Importance of their p1r-
chasing power as affecting the prosperity
of general business, all require in the
public interest that no unfair treatment
should be accorded them. But 1 am glad
to note that the railway managers have
acquiesced in the fairness OF the present
bill, and propose Loyalty to comply with
its useful provisions. 1t was supported
by the whole Republican party In con-
gress, and hat party Is entitled to credit
for its passage. The whole Democratic
strength was exhibited against 1t in both
houses. 1t was a performance of a pledge
of the platform and only needs time
to vindicate the wisdom of its enact
ment."
Postal Savings Banks.
The postal savings bank bill has q sim
liar history. 1t is one of the great con-
gressional enactments. 1t creates an
epoch. 1t Institutes a system which will
work effectively to promote thrift among
the poor. by providing a depository for
their savings which they properly may
consider absolutely safe, and will also
turn into the channels of trade n COM
merce a large volume Of money which
otherwise would be boarded. BY specific
provision it will stimulate the investment
OF savings in government bonds of small
denominations, for which the bill pro-
vides. Like tie tariff bill and the railroad
bill, this was put through each house of
congress by a Republican majority. and
was signed by a Republican president.
The legislation Of congress in respect to
the navy department is a full compliance
with the promises of the Republican
platform. In spite of a proper desire to
keep down appropriations, congress saw
the necessity for a continuance of our
present naval policy and a regular
Strengthening of the navy by the addi-
ton of two or more battleshfps. More
than this, it has enabled the secretary OF
the navy to carry out a reform In the
business management of the department
and a reorganization OF the bureau and
staff of the navy SO as to contribute ma
terially to Its effectiveness as one of the
military arms Of the government. AL
though the Democratic national platform
apparently favored the increase In the
navy, a large majority of the Democrats
both in the house and the senate opposed
the policy when presented In the form of
concrete legislation.
Labor Legislation
The Republican party at the last ses-
sion of congress again exhibited its deep
and sincere interest in the general well
fare of the working men and women of
the country by adding important enact
ments to its already long record OF legis-
iation on this subject. Practically all
classes of employees, especially those en-
gagged in occupations more or less haz-
ardous. are the beneficiaries of laws
which SHOULD operate to tighten the bur-
dens which naturally fall upon the shout
ders of man, TIL Republican party rec
| ognized the necessity of reducing the
dangers under which hundreds of thou