New-York tribune., 1910-05-10

the severity OF the restrictions. How
far the Bill can be amended III the
House. or what can be done ABOUT H. l
am unable at this moment TO say:
am hopeful, because the RepupIesti
party is firmly committed To the lhtfA
duction OF postal savings depositorlesA
that we shall secure at this session of
Congress a safe and sane law Whch
will offer small depositors absolute se
curity and convenience and at the sanis>
time improve and not impair the credlI
of the government and the integrity CT
our fiscal system.
The publicity of expenditures bin was
mot recommended in the hepupiicdh
platform, but I ventured to say IN my
speech OF acceptance that snouiu
recommend the passage OF sucn q pii, ,
with the full confidence that IL Wouiu
meet the approval of Congress am
clad IN saw that the bill has passed the
House, and with an amendment TO make
il accord with my recommendation anu
that of nv predecessor the bill has peen
reported favorably to the Senate' ana
there is every reason TO think that IL
viii pass that body.
Railroad Bill Still Strong.
Finally we come to the bill amending
the interstate commerce law The bill is
pending in both houses. 1T mas peen
amended in the House and also IN the
Senate, and with that freedom or touch
for which headliners and Correspondents
are so noted we have been told with
much emphasis that the administration
bi1I has been einasculated in both houses
/ am not as familiar with its CONDITION IN
the House as am with it in the Senate,
hut T think that possibly the statement
of the bill in the Senate viii snow what
| is the fact that the bill has not been
e,ns sculated in either house and that 1t
| contains almost all Of the remedial feat
ures of the original administration Dill,
l-aud that those things which have been
omitted are neither substantial nor vital
| In the first place, the bill contains d
series of sections creating a commerce
| court which is to absorb all the jurisdic-
ton now had by the Circuit and Dlstrlct
co,rts on review by Injunction SUIT or
| otherwise of the proceedings of the IN
terstate Commerce Commission Inns
court was to be created by five new Clr-
emit Judges appointed by the President,
one of whom was TO be supplanted each
year by designation OF another Circuit
! Judge by the Supreme Court
Advantages OF the Court.
The advantage of the court is that we
shall have q court Of experts at WASH
ington very familiar with the Wnole Dusl-
| ness of interstate commerce and the Ge-
cisions affecting it, and viii be able 10
! djspose of the business before il prompt
| ly and give efficacy to the orders OF the
Interstate Commerce Commission 1hat
are legal. The whole object of the court
/ is expedition, and the whole defect OF the
| interstate commerce procedure hereto
fore has been delay. / regard the COM
nierce court as practically the most i'm
portant feature in the bill. Tnus faf IT
/ has remained in the House. although by
a close vote, and it has not been stricken
out in the Senate.
Another feature Of the bill is TO give
the Attorney General complete control
over the litigation after it has left the
! Interstate Commerce Commission ana
gets into court. Heretofore the Inter
state Commerce Commission itself has
| controlled the litigation in the courts
and il presented the anomaly of q quasi
/ judicial tribunal suing in its own behalf
/ TO confirm its own judgments. 1t was
! thought wiser to give this to the De-
partnlent of Justice, but amendments
have been introduced by which shippers
who have an interest may be heard by
! special counsel if they desire, under reg
! ulation of the court.
/ Another section requires companies, by
| their agents. to furnish statement IN
! writing OF the rate or charge applicable
! te g. described shipment between stated
| places under schedules or tariffs to which
| such company is party, or penalty Tor
failure. .
Other Powers for Commission.
The other provisions authorize the
! commission not only to review rates, but
the classifications of freights, and enable
| the commission of its own motion to IN
yestigate the question whether any rate
is unjust or unreasonable, OF unjustly
discriminatory, or unduly preferential
or preiudicial, or otherwise in violation
of any CT the provisions of the act.
Another provision requires the COM
mission to establish through routes and
ioint rates and TO do this upon com
1 plant or upon its own initiative, and II
is given to the shippers to select among
these routes thus established the route
which they prefer.
Section Is provides that no railroad
corporation under the interstate COM
merce act shall hereafter issue for any
| purpose connected with or relating tC
any part of its business governed by
| such act stock except upon the payment
of the par value thereof: or any bond
without payment Of not less than the
par value thereof: or if sold at less than
par then at not less than its reasonable
! market or selling value, to be ascer-
tanned by the commission, and that nc
property or other thing than money
shall be taken in payment to the cor
poration for stock or bonds except al
Il its fair vafup7-vhich shall be ascer-
:
! There are also provisions for reorgan-
ization and merger which contain sim
liar limitations as to the issue of stocks
and bonds. The features that / have
! detailed remain in the bill
Reasons for Amendments.
Two sections have been striken out.
Section Z attempted to legaliZe the max
ing OF traffic agreements not to last
! longer than thirty days between com
peting lines as to rates, but forbade
pooling. This was declared for in the
platform and recommended to Congress
in two or three messages of President
| Roosevelt. The purpose was to legalize
! the practice that will prevail whether
! the law permits or not. 1t seems to me
! essential that rates should be fixed tenn
porarily at the same amount in order tC
prevent q rate cutting where each time
/ the fixing of rates is had. No one sug-
sests the wisdom of instituting prose
! cutions under the antitrust law to pre-
vent this practice, and it seemed wise
| therefore to formulate its limitations u