The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1912-12-16
REPORT OF seq. NAGEL

Washington, Dec. 15.-Charies Ma
gel, secretary of m and labor,
would sharply define and restrict the
powers and discretion of the proposed
federal commission to regulate in
dustrial corporations. In his annual
report, submitted to President Taft
today, the secretary opposes the en-
doWment such a commission, If final
ly created by congress-, with far
reaching powers equal to those ex-
ercised by the interstate commerce
commission over railroads. He disap-
proves the suggestion that the com
mission have authority to fix prices Of
commodities.
Epitomizing his doctrine for gov
ernmental supervision of business, Mr..
NageI says:
Instead of pressing federal regula-
ton as far as possible, the real desid-
eratum in legislation affecting the
country's business should be to pre-
serve, to the greatest consistent with
the public welfare, the element of
self-regulation. The efforts should
be to law down principles. of conduct
sufficiently specific to impose de-
sired restraint, at the same time leav-
ing a wide field for industrial achieve
ment." ?.
If such a trade commission is well
defined, the secretary says, sit may
SCI VIC liz SCllCLd al g. puI POSC VA 6lbl1l6
large industrial and commercial con-
Germs much needed federal author
ity and control. 1t is possible by
lodging in the commission well-de-
fined discretion and intelligent pur-
pose may be served. But the obvious
danger is in that such a commission,
nee created, will be vested with fur
ther powers. The disposition will I'M
doubtedly be to give it authority to
fix prices and conditions of operation,
similar to that which the interstate
commerce commission now exercises
with respect to, railroads and their
rates. In other words, there is a
disregardstrong tendency to disre-
gard. the fundamental distinction
between a public carrier and a private
enterprise
At the outset at least, in the judg-
ment of Mr.. Nagel, the general pow
ers and the degree of discretion of
the commission should be carefully
restricted.
To make more effective the work
of the bureau of corporations and
pave the way for constructive legis-
lation regulation business, the secre-
tary urges that congress provide for
| the automatic submission, by corpora
tons engaged in the interstate trade
of certain fundamental data, such as
facts relating to capitalization, prop
erty, business investment, profits, of
fcers, directors n controlling lin.
terests. Such information, subject tc
due protection against unnecessarily
disclosing matters of no real public
concern, adds the secretary, would
| permit more prompt publicity than is
possible under the present method OF
la%borious investigation in each spe-
cifc case. m
Mr.. Nage1 believes the bureau Of
corporations should act in an ad-
visory capacity to the federal courts
in formulating plans of re~organiza.
ton of corporations found to be ir
violation of the Sherman anti-trusi
law, because he says the questions In
volved In restoring competition in
great business depend as much upor
intimate knowledge of conditions in al
industry as upon questions of law
Although he thinks the bureau al
ready has authority to render this as
sistance, he suggests that 1t be spe'
officially authorized by statute,
In connection with the awakening
of the world by the Titanic disaste
to the urgency Of greater safeguard
OF life at sea, Mr.. Nagel endorses
the proposition to hold an information
al conference and calls attention &
the need of laws governing the person
mel of officers with O view to bette
guaranty OF the fitness OF men S,
employed.