The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-02-13

because they were forced upon national
banks at this low rate in order that the
banks might have a basis of circulation.
This implied obligation of the govern
ment the postal savings bank funds would
easily enable it to meet
Second, If the funds are to be arbi-
| trarily deposited in all banks, state and
national, without national supervision
over the state banks, and panic were
| to come 1t is difficult to- see how the
government could meet its obligations to
Its postal savings bank depositors, be-
cause with every bank snspending pay
ment the funds of the postal savings
bank would be beyond the control OF
| the government and we should have a
financial disaster greater than any panic
we have heretofore met. provision
that when the money is not coded to III
vest in government bonds or to redeem
| the same, it may be deposited in national
banks in the neighborhood of the place
OF deposit. will avoid the great danger OF
| panic and will strengthen banking
| system which is arm of the federal
! government I sincerely hope that be-
| fore the measure is hammered into its
| final shape It make take on these charac-
teristios which shall give 1t constitu-
| tional validity and sound financial
strength and usefulness. Those who IN
sist upon the elimination of these two
necessarily characteristic features OF the
bill will put the party In the positloh
where it cannot hope to escape the charge
that 1t is not in good faith seeking the
passage of postal savings bank act
and is not seeking, therefore, to comply
with the promise of the republican plat
form In that regard.
ION the subject of railroads the re-
publican platform said:
Railroad Rate Law
owe approve the enactment OF the
railroad rate law and the vigorous en-
forcement by the present adnlinlstra-
ton of the statutes against rebates ano
determinations as result of whlch
the advantages formerly possessed bE
the large shipper over the small snip
per have substa ntially disappeared, and
in this connection we commend an APP
preparation by the present Congress
to enable the Interstate commerce COM
mission TO thoroughly investigate and
give publicity to the accounts Of the
interstate railroads. We believe, how
ever, that the interstate laws should
be further amended so as to give rail-
roads the right to make and publisf
traffic agreements subject to the APP
prevail of the commission, but maintain
ng always the principle of competi-
ton between naturally competing lines
and avoiding the common control of
such lines by any means whatsoever.
We favor such national legislation and
supervision as will prevent the future
overissue of stocks and bonds by III
terstate carriers
"A bill to carry out these has been
introduced in both the House and the
Senate and is now being considered
before the appropriations committee OF
these two bodies and there is every
hope that the bills thus introduced in
substantially the same shape as in
troduced will pass and be enacted into
law. Indeed, this railroad measure goes
further than the promise of the plat
form, for while IL subjects the issue
Of stock and bonds to the restrictive
supervision of the commission and pre-
vents future watering of securities and
forbids the acquisition by a railroad
company of stock in a competing line.
1t also puts very much more power
into the hands of the commission for
the regulation of rates and 1t facili-
tates In every way the case of super.
vision by the commission of the rail-
roads to secure a compliance by the
railroads with the rights of the pub
lie and of the shipper.
THE bill was prepared by the At
torney General after full investiga-
ton with the interstate commerce COM
mission, with the representatives of the
shippers and the representatives of the
railroads, and while it was not tho
result of an agreement of all parties
in interest. it was drafted with a view
to meeting all the fair objections and
suggestions made by them.
Authority of Courts
THE platform further suggests
The republican party win at all
times uphold the auth GRITTY of the
courts. federal and state, and will ever
insist that the powers to enforce the
process and to protect life. liberty and
property shall be preserved inviolate.
We believe, however, that the rules
of procedure in tho federal courts with
respect to the issuance of the writ OF
injunction should be more accurate
~ defined by statue and that no injunc-
ton or temporary restraining order
should be issued without notice ex-
cept where irreparable injury wou.
result from delay. in which case a
speedy hearing thereafter should be
granted
"A bill TO carry out exactly this prom
Use has been introduced into both the SEN
ate and House and will be doubtless
brought up for consideration and pas
sage. The bill does not go as far as Mr.
Gompers and the Federation of Labor
demand, but it goes as far as the re-
publican convention was willing to let it
go and 1t is SO drawn as to make an
abuse of the issuance of injunction with
out notice very improbable.
1T requires that no Injunction shall be
issued without full notice and hearing
unless to prevent irreparable injury, and
that In such cases the court shall make
a finding from the evidence adduced
pointing out what the injury anticipated
Is, and why irreparable, and why there
is not time to give notice, and after the
injunction shall be issued without notice
1t Is provided that such injunction shall
lose its force at the expiration of five
days unless hearing Is had.
Statehood Plank
THE platform also promised statehood
to Arizona and New Mexico, and the bill
providing such statehood has passed the
House and has been favorably considered
there seems otbe no reasona BILE doubt
that this promise will be fully kept
The republicans in their platform spoke
further as follows:
We endorse the movement inaugu-
rated by the administration for the con-
servation of natural resources; we sp-
prove all measures to prevent the waste
OF timber, we commend the work now
going on for the reclamation OF arid
lands and reaffirm the republican policy
Of the free distribution of the available
areas of the public domain to the landless
settler.
mo obligation of the future is more
insistent and none will result in greater
blessings to po5terity. In line with this
splendid undertaking Is the further duty,
equally imperative to onter upon sys-
tenlatic improvement upon a large and
1l,o