Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-05-31
nSURGENI MARKS
ON RAIL BILL
[Continued From Page IL


the justice of our objection. and it Is
now provided, by an amendment, that
both the commission and the COM
planning shippers or organizations can
appear in these suits, AID thus prevent
any miscarriage of justice that might
be imminent
injunction Feature.
Il objected TO that part of the bill
which permitted preliminary injunc-
tions to issue without notice and which
prevented an appeal TO the supreme
court from orders granting such IN
junction. 1t is fortunate that the good
sense of the senate demanded the
change upon which we insisted in this
respect, and now the bill requires notice
of az application for injunction ana
grants the right of appeal TO the SUI
prerne court.
When 1 first reviewed the bill, there
was in it a section which astonished
every thinking man in the United
States. 1 predict that the history OF
section will not soon be forgotten by
those who wrote it, those who fathered
il, or those who opposed il. 1t seems
strange now that it could have been
deliberately suggested that the anti
rrus, law should be repealed with re-
spect to traffic agreements without
subjecting the agreements 10 the ap-
prevail of the commission before either
rle agreements, or the rates under
them, became effective. 1t is not my
object TO unnecessarily harrow the feel
ings Of anyone here or elsewhere, and
l am content TO say only that section
has disappeared from the bin, and if II
is ever lifted out of the oblivion into
which il has fallen. ii will be 10 re-
proach those who were misguided
enough to insist upon its adoption by
the congress of the United States.
That Disputed Section 9.
1--WE believed also that the provision
in section which authorized the COM
mission TO postpone pending inyes:iSa-
ton for a period of sixty days the time
at which changes in rates shall take
effect. was not broad enough. altho We
recognized from the beginning that this
was an advance in the law. We insist
ed that 10 increase in rates should take
effect until examined and approved by
the commission. Upon this proposition
the fight has been long-continued and
intense. The first sign of yielding upon
the part of the majority of the commit
tee was an amendment proposed by a
IlIS-I!DSI VI lIic
increasing the period Of suspension to
I20 days-an amendment which was
adopted by common consent. Then
came the arrangement thru which our
rproposal was overthrown-an arrange
N ent that gives the commission, if nee
essary for its work. ten months to in
vestigate change. in rates before they
go into effect. This is not all we asked;
t. no i,,S|tca ren,lireS. hut IL
approaches the end we sought, and. as
.uming that the features Of the bill in
this respect are constitutional upon
which express no opinion at this
tine) there is now in the bill a fair
hope tina, the greater number of in
creases will not become effective unless
they are found to be just and reason
bic by the commission. I am not sur
prised that the committee refused TO
accept our amendment, for to have
done so would have been contrary to It's
I established policy. II upon any occa-
sion we had propounded the piainest
n oral truth in the exact language OF
/ the decalog, there would have been
! a hurried consultation and prompt
reinforcement in order to see whether
/ there was rot some other phraseology
I in which the truth could be sufficiently
/ expressed to meet the conscience OF
/ matority Of the senate. Nevertheless
with regard to this subject, we have
/ large part of the protection for when
we have been conrending, and while
we will not suspend our efforts to make
! the regulation complete, we look for
ward with some satisfaction to tbs
partial relief which the plan adopted
will furnish.
Bold, Bad Sections.
when I originally reviewed the bill
there was in it section which became
instantly conspicuous turnout the
country for its boldne.s as we'll as itE
badness. Section ~ is now and al
ways will be unique in the annals o.
congress. It has bscome and will re-
main a curiosity in the museum o,
proposed legislation. Il not only swep
aside in many respects the anti-trus
law, but 1t created a jurisdiction fol
the court of commerce the like o
which the world had never heard before
"a jurisdiction that was intended Il
transfer from the forum Of congress Il
the forum of the court OF commerce
the establishment and regulation o
the governmental policy respecting thu
merger and consolidation OF railways
This section could scarcely witstand {
first breath Of criticism and it too ha
gone to repose forever by the side o
its sister. section Z. I have no doub
that some genius Of epigram and ex
preston will shortly compose fittini
epitaph for both, describing in ap
phrase their unfortunate birth, thei
monentary struggle for life,N thei
quick dissolution, and their ingloriou
burial.
Stocks and Bonds Features.
when the bill came to us from tn
committee, there were in it certain
sections known as 10, IA, and Is. Thes
sections had for their apparent purpos
regulation of the stocks and bond
OF railway companies. They appeare
TO be a response to the universal de
mand that the government should. TAX
/, prompt measures to prevent the eve
: increasing volume Of capitalization
which to a great extent has repre-
sented nothing more than the geniu
and audacity of promoters, and ha
been the highest evidence Of the in
difference OF congresses and legisla
turss = ~ t-,,e interests of the PEG
IpIe. I do not intend to analyZe tines
sections. 1 only say Of them that,
] they had been enacted into law, the
E would have not only not have regulate
: and prevented over-capitaiization, bu
> they would have approved the crime
hot 4Hrox- al Ph0 DIV