The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-17
4 Queer Proposal From Boston.


Not much has been heard lately about
the Owen bill for the regulation Of the
stock exchanges. but the measure Is
brought TO notice again by the news
that substitute has been prepared
and submitted to Senator OWEN by the
Boston Chamber OF Commerce. II seems
that the chamber has acted in COM
pllance with a request made some three
weeks ago bv Senator OVENS Banking
and Currency Committee, but the Bos-
ton bill. as described in the dispatches,
In n mighty queer alternative to ema-
nate from n community which is sup
posed to have some regard for the
tradition of a government of laws and
not Of men.
Irrespective Of the other features OF
the Boston substitute. there is one par
ticular in which II is certainly no i'm
provemcnt over the original. The ami
mating principle of the owen mea sure
il abuse Of the Governments power over
the mails. II proposes in order to COM
pei the submission OF the stock eX-
changes to political regulation that the
Postmaster General shall have author
ity to put them out Of business by cut
ting of their postal privileges whenever
he sees it, The chief difference be-
tween the Owen bill and the so-called
Boston substitute Is apparently that the
substitute proposes To transfer this
Russian censorship from the Post Office
Department and confer IL on the pro-
tected Interstate Trade Commission.
qualified only by right Of appeal to
the Federal courts.
Undoubtedly 1t Is something to have
the courts recognized Mt all In this
matter. Nevertheless the principle Of
the two measures is Identical. an abuse
or power which is In violation Of every
sane conception of our governmental
institutions. To expose it should he
enough 10 defeat any measure framed
on such n basis. Nevertheless the in
tclligence Of the country cannot safely
rely on Congress to reject any danger
Gus experiment of the sort.
The composite mind Of Washington
to-day Is highly experimental. If
cross section of ii could be illustrated
u would be shown to be occupied with
the recollection and projection OF va
riOus departures which would have
been deemed few years ago imposSi-
HE Of serious consideration by Con-
gress. Almost anything might come Of
a situation characterized by the enact
ment Of class legislation through the
income tax law and the effort to ex-
cmpt labor organizations from the oper-
atlons of the Federal law against
economic conspiracies: by the proposal
TO clamp letters on all kinds Of busi-
ness activities through the pending
programme Of trust legislation by the
cordial reception OF Government owner
ship schemes denoted by the Alaskan
railway act and the Postmaster Gen
erals plan for Government telephone
and telegraph system, and by the ap-
proving attitude manifested toward the
parcel post extension and the Govern
ment regulation of rates which are de-
stroying the investment Of private capt.
tai In the express business and in the
railroad service.
As We have said, the mind Of WASH
lngton being what 1t Is to-day. there
can be no safe assumption that Con-
gress will not enact the vicious prin-
clple of the Owen stock exchange bill
or its Boston substitute into law. The
matter is one which does not concern
the financial community alone. 1t Is
OF concern to the whole country If the
censorship of the mails now contem-
plated is to he established as n part of
governmental processes. Once estab-
llshed for any particular purpose il he
comes instantly capable OF n vast eY-
panslon for every purpose OF govern.
mental interference with private nc.
tlvlties which demagogc inspiration
can suggest.
(Iennino