The sun., 1910-02-13

have now about 500. .OOO. 900 Of 2 per cent.
bonds with respect to which we owe a
duty to the owners to see that those bonds
may be taken care OF without reduction
were forced upon national banks at this
low rate in order that the banks might
have basis Of circulation. Ihis impheu
obligation of the Governmant the posta!
savings bank funds would easily enable
il to meet. Secondly, il the funds are to
be arbitrarily deposited in all banks,
State and national, without national
supervision over the State banks. and
panic were TO come IL ~ dln1oult 10 see
how the Government could meet its obh-
cations to it's postal savings bank de
positors. because With every bank suspend:
ing payment the funds of the postal
seVingS banks would be beyond the con-
troll Of the G0Vernmert and we should
have n financial disaster greater than any
panic We have heretofore met. A pro-
vision that when the money is not needed
10 invest in Goverrment bonds or to re-
deem the same il may no del,osited IN
ma tional bank in the neighborhood OF
the place of deposit will avoid the great
danger of "A panic and will streI GtheD
bar King system which is an arm OF the
Federal Government. I sincerely hope
that before the measure is hammered into
its final shape IL may take on tfese
characteristics which shall give It cor.
stitntionsl validity and sound financial
psist upon the elimination Of these tNo
necessary characteristics features OF the
bill will lsut the party in the position
where il cennot hope to escape the charge
that il is not in good faith seeking the
passage OF ostal savings bank act,
aud is not seeking, therefore, to comply
With the promise OF the republican plat
form in that regard.
On th subject Of railroads the Repub-
lican pls form said
We approve the enactment of the rail-
road rate law and he vigorous enforcement
ny the present Administration of the stat
ntes against rebates and discrimina tions
ss a result of which the advantages for
merry possessed by the large shipper over
he small shipper have substa ntially dis
appeared and in this connection We COM
mend the appropriation by the present
Congress 10 enable the Interstate Com
merce Commission TO thoroughly investi-
gate and give publicity 10 the accounts
of Interstate railroads. We believe. how
ever, that the interstate COmmerce law
should he further amended so as TO give
railroads the right to make and publish
traffic agreements subject TO the ap-
proval of the commission but maintain
ing always the principle of composition
between naturally competing lines and
avoiding the common control OF such lines
by any means whatsoever. We favor such
UhNOhNl leRSdttOu anu SupCfNlbtOu ~
will prevent the future overissue of stocks
and bonds by interstate carriers.
CARRYING OUT THE RAILROAD PLANK.
bill to carry out these declarations
has been introduced in both the House
and the senate and ia now being con-
sidered before the appropriate COM
mittees Of these two bodies, and there ts
every hope that the bills thus introduced
in substantially the same shape az intro
duced will pass aud be enacted into law
Indeed this railroad measure goes further
than the promise of the platform. for
while it subjects the issue Of stock and
bonds to the restrictive supervision OF
watering Of securities and forbids the
acquisition by q railroad company OF
stock in competing line i also puts
very much more power into the hands OF
the commission for the regulation Of
rates and it facilitates in every way the
case Of supervision by the commission OF
the railroads to secure q compliance by
the railroad with the rights OF the public
and Of the shipper. The bill was prepared
by the Attorney General after a full oon-
ference with the Interstate Commerce
Commission. with the representatives OF
the shippers and with the representatives
of the railroads. and while 1t was not the
result of an agreement between all the
view to meeting all the fair objections
and suggestions made by every one OF
them
REGULATING IHJUHCTIoNs
The platform further provided: =,
The RepubIi can party will uphold at al
times the authority and integrity of tho
courts. State and Federal. and will ever
insist that their powers to enforce their
process and to protect life, liberty and prop
erty shall be preserved inviolate. We be-
Iieve, however. that the rules OF procedure
in the Federal courts with respect TO the
issuance of the writ of injunction should
ne more accurately defined by statute
and that no Injunction or temporary re-
straining order should be issued without
notice except where irrepsrable injury
would result from delay. in which case q
speedy hearing thereafter should he
granted.
has been introduced into both the Senate
and House and will doubtless come up
for considerable and passage. The bill
does not go as far as Mr.. Gompers and the
Federation Of Labor demand. but it goes
as far as the Republican convention was
willing to let it 20. and Il is 90 drawn
as to make an abuse OF the issuance OF
Injunction without notice very improb-
able. IL requires that no injunction shall
be issued without full notice and hearing
unless to prevent irrepa ra BILE injury, and
that in such case the Court shall make
a finding from the evidence adduced
pointing out what the injury anticipated
is and why irreparable aud why there
il not time TO give notice. and after the i
injunction shall be issued without notice
il is provided that such Injunction shall
lose it's force at the expiration OF Ave days
unless a hearing is had.
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
by the committee Of the Senate. so that
there seems 10 be no reasonable doubt
that this promise will be fully kept
The Republicans in their platform
spoke further as follows:
We indorse the movement inaugurated
by the Administration for the cohserva-
tion of natural resources; we approve all
measures to prevent the waste Of timber
We recommend the work now going on for
the reclamation OF arid lands and reafirm
the Republios policy of the free distribu-
ton of the available areas of the public
domain to the landless settler. No ohliRa-
ton Of the future is more insistent and
none will result in greater blessings to
posterity. In line with this splendid UNDER