Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1910-01-08

- = AtetSs - $50 StARAaJ AuCAiN
of large capital under one manage
ment.9
After declaring that the decisions
Of the supreme court upheld the
law, the president says:
The value of the statute, which is
rendered more and more certain by
"a long line Of decisions by the gu.
preme court OF the United States, fur
nishes strong reasons for leaving the
act as 1t IS"
He declares that Il Is the duty OF
the department of justice, under the
present law, to investigate all trusts,
and says:
But such an investigation, and
possible prosecution OF corporations
whose prosperity Affects the comfort
not only of the stockholders but OF
millions of wage earners and en-
ployes and associated tradesmen.
must necessarily tend to disturb con-
fidence in the business community,
and to dry up the new flowing sour
ces OF capital from its places Of
boarding. and produce halt In our
prosperity that will cause suffering
and strained circumstances among
the innocent for the faults of the
guilty few"
Make Law Reach Corporations.
He says that he desires to procure
a means Of bringing corporations into
the pale OF the law. and to prevent
any business disasters. He offers
the proposition of the federal char
ter as the means OF gaining this pur-
pose, saying:
I'm dealing. therefore, with men
who have used methods condemned
by statute, for the purpose OF main
tanning profitable business, we may
well facilitate change by them in the
method OF doing business, and en-
able them to bring 1t back into the
zone OF lawfulness without losing to
the country the economy of manage
ment by which In our domestic trade
the coat of production has been ma
terially lessened, and in competition
with foreign manufacturers our trade
has greatly increased. Through all
our consideration of this grave ques-
ton, however, we must insist that the
suppression OF competition, the con.
trolling of prices and monopoly, or
any attempts to monopolize in inter
state commerce and business, are not
only unlawful, but contrary to the
public good, and they must be re-
stricted and punished until ended.
FavOrs Federal License.
Therefore the president recon-
mends the enactment Of a law for the
formation of corporations engaged in
Interstate trade under a federal IL
cense, protecting them from undue
interference by state. and providing
for the issue of stock only for the
paid In value In cash or property
whose value has been .ascertained by
the federal authorities.
The law should subject real and
personal property only of such cor
porations to the same taxation as is
imposed by the states within which II
may be situated and upon other sim
liar property located therein. and
should require such corporations to
file full and complete reports OF their
operations with the department OF
and labor at regular inter-
vals," the president says.
He also proposes to prohibit cor
porations from acquiring stock in
other corporations.
In discussing the possible objec-
lions to his plans, the president says
recent decisions have been so sweep
Ing that only three doors are open
to corporations, They must resolve
themselves into their component parts
with loss to themselves, and to the
country" They must run in defiance
Of the law or as third possibility
they can accept his charter plan.