Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1910-02-15

make il impossible for the trustees of the
fund appointed under the law to with,
draw the money for investment in any
other form. / regard such an amendment
as likely to defeat the law, because 1t
takes away a feature which ought to be
present in the law to assure its constitu-
ticnality. II the law provided that the
trustees, to be appointed, with the funds
thus deposited. could meet the financial
eXigencies of the government by purchase
or redemption of the government 2 per
cent and other bonds, the measure would
certainly be within the Federal power.
because postal banks would then clearly
be an instrument of national government
in borrowing money.
CONSTITUTIONAL VALIDITY.
81 sincerely hope that before the meas
ure is hammered into final shape it may
take on characteristics which shall give
| it a constitutional validity and sound
financial strength and usefulness.
Concerning the party promise to enact
a railroad rate law and the bill on thai
subject subsequently introduced, the pres
ident said:
This railroad measure goes further
than the promise of the platform. for.
while il subjects the issue OF stock and
bonds to the restrictive supervision of the
interstate commerce commission and pre-
vents future watering of securities and
forbids the acquisition by a railroad COM
pany of stock in a competing line, it also
puts very much power in the hands of the
commission for the regulation of rates
and facilitates the case Of supervision by
! the commission of railroads to secure
compliance by railroads with rights OF
the public and shipper
On the question of the party's promise
/ with respect to the power of the courts
and injunctions. President Taft said OF
| the bill now in congress:
DOESN'T MEET DEMAND.
THE bill does not go as far as Mr.
Gompers and the Federation of Labor de-
mand. but it goes as far as the republican
convention was willing to let it go. and
1t is so drawn as TO make an abuse OF
Injunction without notice very improb-
able
Referring to the promise of the party
for conservation of natural resources. he
declared that the river and harbor bill,
just reported. had been framed with z
view to complying with the party
pledges.
TALKS ON TRUSTS.
On the subject of trusts and the party's
pledges, in that regard. President Taft
/ related how, since the platform was
adopted, prosecutions of the tobacco trust
ana Ine STANDARD OH trust had gone oil
and had resulted in DEGREES in the court
of appeals of the second and eighth
circuits which were now pending in APP
peal in the supreme court.
THE attorney general has prepared a
| bill. which he thinks. and I think will
! offer to those who wish to pursue law
| full method of business. the means of
easily doing so. A lawful business un-
der the protection of a federal charter.
which, while it will subject the business
of the concern to the closest scrutiny OF
government officers. will have the bust
1 ness from harassment by state authori-
! ties and will give ii that protection which
| In it's peaceful pursuit of its business ::
federal corporation will necessarily secure
lit.
| Il believe the act TO be constitutional
and ! believe that, if enforced, il would
furnish a solution of our present diff
| culties, but as il was not specifically de-
| clared for in the Republican platform.
do not feel justified in asking the
adoption of such an act as a party mat
ter"
/ HAD GIVEN GOOD ACCOUNT.
The president declared he believed the
party had given good account of it's stew
ed approval in the coming congressional
campaign. but he referred to signs which
some construe as pointing to Demo-
cratic majority i'm the next house, TO
| internal dissension in the party and con-
| tnued:
There is a decided difference in the