Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1910-02-23

the lOcdllty where deposited, IN banks.
state and national, and so deposited
as 10 make it impossible for the trus-
tees of the fund 70 withdraw the
money for investment in any other
! form. regard such amendments as
likely to defeat the law. First, be-
| cause it takes away that feature
which assures the laws constitutional
ity. We have now about 500, 000,0 900
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 IL
the funds are arbitrarily deposited IN
all banks, state and national, without
national supervision over the state
banks and 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 overissue 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.
out notice, Mr.. Taft said:
"A bill to carry out exactly this
promise was introduced in both houses.
II doaS NOT or &c for n. Mr. Cnrnnare
and the federation of labor demand,
but as far as the republican conven-
ton was willing to let it go. It 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 of conservation and waterways
movements, the president
said
Measures for the conservation of
the public domain. re-classification of
lands, authorizing the executive to dis
pose of the coal phosphate oil and
mineral lands and waterpower sites in
such 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
jeets 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 a
system.
AT the beginning of this administra
tion it was evident that with expenses
increasing and revenues decreasing
there would be continuous deficit
This the republican majority in con
sress proposes to meet by reducing
expenditures and increasing revenues
The administration estimates for the
coming fiscal year were $4,000. 600 be
low the actual appropriations the.
year before and it is proposed TO APP
point joint commission to examine
the organization Of the various de-
partment bureaus and decrease the
regular permanent cost Of governments
al operation"
Cost Of Monopolies.
In respect TO the platform declara-
tons for a greater supervision and
control over and greater publicity in
the management of monopolies, Nh.
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 so
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 CT live and let
liye,' and that the CORPORATIONS shall