Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1910-02-17

which assures the laws CONSTITUTIONAL
ity. We have now about 500, 100000
two percent bonds with respect to
which we owe duty to the owners
to see that those bonds are taken
care of without reduction below the
par value thereof, because they were
forced upon the national banks at this
low rate in order that the banks
might have basis of circulation. This
implied obligation of the government,
postal savings bank funds would
easily enable it to meet. Secondly II
the funds are arbitrarily deposited In
all banks, state and national, without
national supervision over the state
banks and a panic were to come, it Is
difficult to see how the government
could meet its obligations to the pos
tai savings bank depositors, because
with every state bank suspending
payment the funds of postal savings
banks would be beyond the control OF
the government and we would have a
financial disaster greater than any
panic we have heretofore met"
interstate Commerce Law.
Mr.. Taft quoted the platforms de.
clarations for the enforcement of the
statutes against railroad rebates and
determinations and in favor of amend
ing the interstate commerce law so
as to make traffic agreements subject
to the commissions approval, and pre-.
venting an over-issue of stocks and
bonds Mr.. Taft said:
"a bill to carry out these declara
tons was introduced in both houses
with every hope of enactment. The
measure goes beyond the platform In
empowering the commission to regu.
late rates and facilitates the ease OF
supervision so as to secure to the
railroads compliance with the rights
of the public and the shipper"
Concerning the platform'c sugges
ton to prevent the issuance of IN.
functions by the federal courts with
OuC hOtlCC,N Ml. ait Sclu.
"A bill to carry out exactly this
promise was introduced in both houses
1t does not go as far as Mr.. Gompers
and the federation of labor demand
but as far as the republican conven.
ton was willing to let it go. 1t re-
quires that no injunction shall be is.
sued without full notice of hearing
unless to prevent irreparable injury"
The Conservation Problem.
Concerning the platforms sugges'
ment CT conservation and waterways
Improvement movements, the president
said:
Measures for the conservation OF
the public domain, Redistribution OF
lands, authorizing the executive to dis
pose of the coal phosphate oil and
mineral lands and waterpower sites in
such a way as to prevent monopolies
Or combinations, has been introduced
and doubtless will be enacted. The
rivers and harbors bill was framed
with the view of complying with the
conservation plank. 1t plans for the
improvement Of the Ohio river as a
project to be carried out in a certain
number of years and treated the pro.
jects for the Missouri and Mississippi
similarly. BY continuing contracts
these projects will go on until com
pleted. This change is the result OF
popular agitation in favor of such
system.
"At the beginning of this administra.
ton it was evident that with expenses
increasing and revenues decreasing
there would be a continuous deficit
This the republican majority in con.
gress proposes to meet by reducing
expenditures and increasing revenues
The administration estimates for the
coming fiscal year were $4,000, 900 be.
low the actual appropriations the
year before and it is proposed to ap.
point joint commission to examine
the organization of the various de-
partment bureaus and decrease the
regular permanent cost of government
al operation
Cost of MonopoIies.
In respect to the platform declara-
tions for a greater supervision and
control over and greater publicity in
the management of monopolies, Mr..
Taft said:
Prosecutions of the tobacco and
Standard Oil trusts resulted in de-
crees in the courts, and appeals now
are pending. to the supreme court
The DEGREES in each case tear apart
subordinate corporations which make
up trust and enjoin individuals from
further maintenance of such Illegal
combination.
1t has been said that the republican
party promised to amend the law SC
as to ameliorate the application of the
antitrust law in Introduction upon the
greatest corporations. / find nothing
in the platform to justify such a con
struction. The principle of the anti
trust law is the policy of live and lei
live,' and that the corporations shall
not use the bigness of their concerns
to brighten patronage from the Gus
toners of smaller concerns, and thus
control the output and fix prices.
THE attorney general prepared a
bin. which I think, offers a means for
lawful interstate business under a
federal charter which, while subject
ing the concern to the closest scrutiny
will save it from the harassment OF