Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1914-10-20

calleQ Dy HreSlueHt "lSOh' q AiiN'A
after his Inauguration, it is the long
est sitting of congress in the history
of the nation.
The work, including that of the
special session for tariff reform and
income tax provision, represents the
legislative achievement of the hrst
Democratic congress since March T.
1897. The chief enactments include
the new currency law, antitrust leg
islation, repeal of the toll exemption
provision for American coastwlse
ships in the Panama canal, and the
provision to build a government rail-
road in Alaska.
The congress was remarkable for
the fact that in less than two years
it had to deal with conditions arising
from two foreign wars-the reVolu-
ton in Mexico and the European con-
fiict-and was on the verge OF racing
a war between the United States and
Mexico. Both of these situations de-
manded emergency legislation, some
of which may have far reaching et-
feet upon the future course of the
nation in it's foreign affairs.
AS a rule the utmost cooperation
between Democratic leaders in con-
gress and President Wilson marked
the session, although one notable
break occurred in the party over re-
peal of the tolls provision of the Pan
ANA canal act. This led to an align
ment which placed the president
and some of the party leaders on op-
posite sides. Among those who took
issue with the chief executive being
Speaker Clark and Majority Leader
Underwood. Speaker Clark's defense
in his position 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
five occasions. He delivered his gen.
eral legislative message December z.
subsequent messages were on anti
trust legislation, the Mexican situa-
ton, pleading for continuation OF
'watchful waiting" the tolls repeal
bill and the necessity for war reve-
nue. bill.
Most important of the laws enact
ed by the congress since December
l, 1913, were:
Federal reserve act creating twelve
regional reserve banks, and Federal
reserve board of control and reform
;~o .ho o,,rrapcy SvStem
Federal trade commission act Great
ing a commission of five members
and absorbing the bureau of corpora
tions to investigate organization,
conduct and practices of industrial
corporations; inquire into unfair COM
petition and alleged violation of anti
trust acts; to aid the department OF
Justice and the courts in the prose-
cution of business offenders; TO make
public information deemed to be OF
public interest relating to industrial
conditions and to recommend remedi-
cal legislation.
The CLAYTON antitrust act which
provides for guilt of individuals con-
nected with corporations convicted OF
violating the antitrust laws, limits
interlocking directorates, prohibits
holding companies which will lessen
competition, prevents exclusive and
tying contracts, liberaliZes laws re-
lating to injunction and contempt and
exempts from prosecution under
antitrust laws, agricultural. horticul-
Lob nrCrl NiZ "a
tions.
Act repeating provisions of the
Panama canal law eXempting from
engaged in cOastwise shipping of the
United States.
The Alaska railroad law providing
for government construction and op-
Grafton of 900 miles of railroad with
telegraph and telephone lines. from
the lower Pacific coast to interior
waters and mineral region of Alaska,
at a cost not to exceed $35,OO0.0OO.
Laws placing on a war footing the
volunteer militia and naval militia
Of the states, subjecting them IN
time of war to the call of the signal
corps of the army.
Law regulating cotton future sales
on stock exchanges, providing tax
of 2 cents pound on sales for fu-
ture delivery unless actually deliver
ed under conditions and grades es-
tablished by the department of agrl-
culture.
Overshadowing much other impor-
tant legislation were emergency mea-
sures demanded by the extraordinary
conditions percipitated by the war in
Europe. Such legislation, enacted OF
about to become law, included the
following measures:
War revenue law imposing special
internal revenue taxes to aggregate
approximate annual revenue of SlOS,-
900. 900 to Offset estimated treasury
deficit due to loss of customs receipts
during the European war.
Amendment to the Panama Canal
act. admitting to American registry
foreign built ships of American own
ership, to engage in Oversea ana
South American trade
ting banks of national currency as
sociatiOns to issue circulating notes
up to 125 per cent of their unimpair-
ed capital and surplus and making
available To banks of the country
more than $1,000. 100000 of emergen-
Cy currency.
Law creating in the treasury de-
partmcnt Il bureau Of war risk insur'
ance. appropriating $5.000,OOO to in
sure ships of American registry
against hazards of the European
war
Resolutions appropriatIng $2.I3O,-
600 for protection and transportation
of American Red Cross society tC
charter ship of foreign registry and