The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-10-16
C%lssocalcd Press Corrc-pondcncc.)

tASsOtintcd Press Correspondence
Washington. oct THE first res
ALA session of The sixty-third con-
sress which began December /. 1913,
is about, To DE concluded. Begun as
an uninterrupted continuation OF the
special session called by President
Wilson a month after his lnaugura-
ton, n is the longest sitting for con-
grcss In tho history OF the nation.
The work. including shat OF the
special session for tafin reform and
income tax provisions, represents the
legislative achievement uf the first
Democratic congress since March 4,
1897. Tlsc chief enactmcnts include
the ncW currency Jaw antitrust leg
islatiou, repeal % the toll exemption
provision for American Coastwiso
ships in tho Panama canal, and the
provision 90 build "A government rail-
road Ia Alaska.
The congress was remarkable tor
the fact tisat Ia less than TWO years
1t had 10 deal with conditions arising
from two ioreign Wharf.-The reNolu-
tion in Mexico and the european CON
nict-and was on the verge of facing
a war between the United States and
Mexico. Both Of these situations de-
mandcd emergency legislation, some
ot which may have far reaching ci-
feet upon the fusuro course of The
nation In us foreign affairs.
A. a rule the utmost cooperation
between Democratic leaders in con-
grcss and President Wilson marked
the session, although one notable
break occurred Ia the party over re-
peal Of the tolls provision OF the Pan
ama canal act. This led to an align
meut which placed the president and
some uf the party leaders on oppusit,
sides. Among those who took issue
with the chief executive were Speaker
Clark and Majority Leader Under.
wood. Speaker CiarK's defense OF hl'
opposition TO repeal furnished one OF
the most spectacular CllmuXes In th'
history 81 the house.
Tho president appeared before join.
sessions 90 the house and senate or
nye occasions. IL delivered hts sen
cral legislative message December 2
Subsequent messages we're on anti
trust legislation. the Mexican situa
tiol, pleading FOR continuation %.
"watchful waiting the tolls rcpca
bill aud the necessity Tor a war res.
onuc bilf
Most importan, Of the laws enacted
hy the congress s!ncc December
1913. were.
Federal Reserve 4, creating twolN'
regional reserve banks, and fedora
reserve board OF control ana reform
ing the currency system.
Federal Trades Commission Act
creating a. commission OF DYc member
and absorbing the bureau of corpora
lions o. investigate organization, con
duct and practice Of Industrial cor
puratluus. inquire iato unfair compc
tition and ALLEGED violation 90 ant.
trust acts. Co aid the department o.
Justice aud the courts in the prosccu
ton OF business offenders. 60 maxi
public Information deemed 60 hc %
public Interest relating Go industria
conditions and 10 recommend rem
cdlal business legislation.
The clayton Antitrust Act which
provides for guilt 81 individuals con
uccted with corporations convicted ("
Violating the aati-truat laws. limit
I~ntcrlocking d~iroctoratcs. prohioit
holding companies which Will icssci
competition. prevents exclusive an'
tying contracts. n~beralixcs laws re-
Ltting Co injunction aad contempt anS
oxcmpts from prosecution under ant.
trust laws agricultural. horticultural
fratcrnal and labor ORGANIZATIONS.
Act repcaling provisions Of the
Panama canal law exemptiag iron
paymen OF tolls American vessels en-
rtged Boa coast wise shipping 90 th'
United states.
The Alaskan railroad law. pTov4d
ina for government construction an'
operation 90 1000 miles 81 y~ailroa,
with telegraph and telephone ines
from the lower PaCihc coast 90 inter
ior waters and mineral reEion %
Alaska az "a cost not to exceed S55.
GOO. Gee.
Laws placing on "a war footing al.
volunteer militia and naval militia q
the states subjecting Thorn ~ time o
war 20 the call Of the sisnal corps o
the army.
Law regulating cotton future sale
ON stock exchanges. providing q ta'
of : cents e pound on SALES Tor futuT
delivery unless actually delivered ana
der conditions and grades cstabiishe.
Nh tho NfNHtAAtfAN OF NeAA NAtHAfs
otershadowlns much other import
ant legislation were measures de
mandcd hy the extraordinary cundi
lions preCipitated by the war i
Europe. such legislation. enacted o
about to become law included the f0l
lowing measures.
War Ven law Imposing spccia
internal revenue taxes 10 a~ggregat
approximate annual reycnue of ftos,
900. 600 90 offset estimated tTrasur
deficit due 90 loss 81 customs receipt
during the European war
Amendment 90 Panama Canal Ac
admitting Co American registry Tor
cign built ships ~ American owner
ship 10 oagage in overseas n soutl
American trade.
Emergency Currency ACT permit
ting banks ~ national currency asso
Citations 90 issue circulating notes "a
90 f25. per sent Of their unimpaire'
capital and surplus and maki1s avail
able a. banks Of the country NOR
fEau a. UUU ana UUn - amFrNauN