Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1914-10-15

CONTINUED from Page One.D
ing effect upon the future course of the
nation in it's foreign affairs.
AS a rule the utmost cooperation be
tween democratic leaders in congress
and President Wilson marked the SEES
sion, although one notable break oc-
ton. some Of which may have far-reach-
CURED in the party over repeal of the
tolls provision of the Panama canal. act.
This led to an alignment which placed
the president and some of the party lead
ers on opposite sides. Among those who
took issue with the chief executive were
Speaker Clark and Majority Leader I'm
derwood. Speaker Clark's defense OF his
opposition to repeal furnished one Of the
most spectacular climaxes In the history
OF the house.
The president appeared before joint
sessions of the house and senate on i've
occasions. He delivered his general leg
islative message December 2 Supse-
quent messages were on antitrust legis-
latlon, the Mexican situation. pleading
for continuation of 'watchtul. waiting
the tolls repeal bill and the necessity for
a war revenue bill.
Most important of the laws enacted by
the congress since December l, 1913, were:
Federal reserve act, creating twelve re-
gional reserve banks, and federal re-
serve board of control and reforming
tho currency system.
Federal trade commission act, Great
ing a commission of five members and
absorbing the bureau of corporations to
Investigate organization conduct ana
practices of Industrial corporations; in
quire into unfair competition and alleged
violation Of antitrust acts; to aid the
Department of Justice and the courts IN
the prosecution Of business offenders; to
make public information deemed to pc
of public interest relating to industrial
conditions and to recommend remedial
business legislation.
The Clayton antitrust act, which pro
yides for guilt OF individuals connected
with corporations convicted or violating
the antitrust laws, limits interloclIing
directorates. prohibits holding companies
which will lessen competition, prevents
exclusive and tieing contracts, hberahzes
laws relating TO injunction and contempt
and exempts from prosecution under anti
trust laws agricultural, horticultural
fraternal and labor organizations.
Act repeating provisions of the Panama
canal law exemping from payment OF toll
by American vessels engaged In coast
wise shipping of the United States.
The Alaska railroad law providing fol
government construction and operation o
1000 miles of railroad. with telegraph anf
telephone lines. from the lower Pacifi
coast to interior waters and minera
region OF Alaska at a cost not 10 exceed
sS5, 900 600
Laws placing on war footing the vol
unteer militia and naval militia of thu
states, subjecting them in time of war
' the call Of the signal corps OF the army
Law regulating cotton future sales Of
stock exchangesi providing tax of
cents a pound on sales for futSre de
livery unless actually delivered under con
ditions and grades established by the DE
pertinent of Agriculture.
Overwhelming much other importan
legislation were emergency measures .,
manded by the extraordinary condition
precipitated by the war in Europe Sucl
legislation, enacted or about to becom
law. included the following measures:
War revenue law imposing special in
ternal revenue taxes to aggregate ap
proxImate annual revenue OF Sos, 00O0 %
to offset estimated treasury deficit due t
loss OF customs receipts during the Eu
ropean war.
Amendment to Panama canal act ad
hitting TO American registry foreign
built ships of American ownership TO en-
gage in overseas and South America
trade.
Emergency currency act, permittin
banks OF national currency associations I
issue circulating notes up to 1S per cen
Of their unimpaired capital and surplu
and making available to banks Of TN
country more than 1900. 900 900 OF emerg
encv currency.
Law creating In the Treasury depart
ment bureau Of war risk insurance, az
proprIating s60oO.0OO TO insure ships O
American registry against hazards OF tn
European war.
Resolutions appropristing R,75oOOo 70
protection and transportation OF America
. citizens stranded in European war zone
and authorizing the American Red eros
society TO charter a ship OF foreign rec
istry and fly the American flag.
Appropriation Of 81 ,O0O,Oo0 for extra 81
pense OF diplomatic and consular servic
in taking over embassies, legations an
consular offices OF warning nations
Europe.
Before these Unforeseen condition.
which demanded decisive action 70 cor
with. the European situation, congress
had on its hands for most OF the sessio
the threatening Mexican embroglii
which came TO a climax in the act Of n
prlsal by the government in the seizure {