The Washington times., 1910-05-03

GoIdsborough, represen t1CS the gas corl-
pany, contends that Congress has not
that power has not that right2
Ar. Hszelton-I think so, sir
Mr. GoldsbOrCUgh-My proposition is
that so long as the securities are within
the actual value OF the property II
makes no difference whether they are
legally issued or Tot that the company
has q right TO a. reasonable return upon
the property whether II mad no securl-
ties at al o. SsC,Oo,0O0 worth OF seCuri-
ties.
Power Of Congress.
Mr.. Pearre-Do you not question the
power Of Congress-
Mr. GoIdsborough-I % not question
the power Of Congress- 1 say that Con-
lress cannot by this act or any similar
act take away from US a vested right
without compensation and that the com
Dany is entitled 10 the equal protecJIou
u me laws ana. therefore, II Is uRC0n-
sJiJutionai.
Sir. GoIdsborough-Congress undoubt-
edly gave US that right
Mr.. CoUdrey-Theu il can take IL
Mr. GoIdsborough-It is not an IND e
+ gift Congress cannot give you tnllg
/ one day and take Il away the next
{ Mr. HazeIton-You got II with a
/ StTing2
/ Mr. GoIdsborough-In the NI3ror ga
J d 4
4 that at any time the franchise should
I be estimated or appraised II Congress
/ wanted 70 take the property, u could,
I Of course, but the Supreme Court said
I Stop, YOU cannot take u without buy
/ ing he franchises That IS the life q
/ the whole thing and IL you want 4
I YOU v = have 10 pay Tor the Franchise
7 with tie other property or course, the
I privilege 10 alter or amend embOdles
! the right OF eminent domain and Con
. gress can take this property any Gay
4 lie Ha
/ OF business
Supervisory Power.
! Nj HazeIton-They can. supervise Of
| regulate it without taking it, That is
! what they ara doing They 90 not pro
/ pose 10 take X. but they propose thai
/ you shall run Il under regulations and
under tie law, as they have a right u
! require 81
Mr.. coudrey-Can the Government il
your opinion prevent misfeasauce suC
/ malfeasauce2
Mr.. HazeIton-1Iisfeasanc and nal
/ feasance in what the corpOration2
! Mr.. COudrey-Tes. sir
/ 8lr. azeItOu-WIthour doubt The
can 90 that under the police power
what We call the police power, TIT
power which protects the pubic heaIti
I and the public morals and which i
1 now extended way beyond the limits al
/ what II was originally on account O
vic lcL4laLu lol us exercise IN NAM
] directions Take the slaughter nous.
/ cases. for instance
/ The minute this Government granite
! charter 10 q citizen OF an association O.
1 cit-zerts and they accept IL and act rDor
u and invest their money IN IL the7
| come under the reserve power IN tht
! c1aTter OF the inexhaustibie and IIfuiu
able power over the public health sng
/ public morals. or both in some cases.
! Court Decision
HE then quoted a Supreme Court de
CIsiOnl
But why need I arEUe the case furthe
70 lawyers and members Of COuEres
who are making the laws for this grea
nation, and who understand the statute
and their construction. and the decision
OF the courts and the common law
/ There Is no more question about Jhi
! resolution being within your power thar
there Is that the jurisdiction OF thi
! committee Is within your power
| Under this charter what have rhe-
got left All they have 70 do IS q,
come w the Avenue 20 Congress anJ
/ ask Congress by a petition and fail
I showing 20 increase their capiraliz~
ton. and II II should be increase
Congress ought TO do & IN some form