Evening star., 1914-10-25
One Notable Break.

AS a rule the utmost co-opera tion be-
tween democratic leaders in Congress and
President Wilson marked the session. al
though one notable break occurred 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 leaders on opposite
sides. among those who took issue with
the chief executive being Speaker Clark
and Majority Leader Underwood. Speaker
Clarks defense of his opposition to repeal
furnished one of the most spectacular cli-
makes in the history of the House.
The President appeared before joint
occasions He delivered his general legis-
Iative message December >. Subsequent
messages were on antitrust lgisiation.
the Mexican situation, pleading for con-
tinuation of "watchful waiting, the tolls
repeal bill and the necessity for war
revenue bill.
Most Important Laws.
!. Most important of the laws enacted by
the Congress since December 1. 1913,
were:
Federal reserve act, creating twelve re-
gional reserve banks and federal reserve
board of control and reforming the cur
rency system.
Federal trade commission act. creating
o commission Of five members and abb
sorbing the bureau of corporations to in
yestigate organization conduct and prac-
tices of industrial corporations; inquire
into unfair competition and alleged VIOLA
tion of antitrust acts; to aid the Depart
nlent of Justice and the courts in the
prosecution of business offenders: to
make public information deemed to be of
Lts- -lofiy yr1Hr cfv~I.ll aTV1-
ditions. and to recommend remedial busi-
ness legislation.
The Clayton antitrust act. which pro-
vides for guilt of individuals connected
with corporations convicted of violating
the antitrust laws. limits interlocking di-
rectorates. prohibits holding companies
which will lessen competition, prevents
exclusive and tying contracts, liberaizes
laws relating to injunction and contempt,
and exempts from prosecution under anti
trust laws agricultural. horticultural, fra
ternal and labor organizations.
Act repeating provisions of the Pan
anna canal law exempting from payment
of tolls American vessels engaged in
coastwiSe shipping of the United States.
The Alaska railroad law. providing for
government construction and operation Of
1000 miles of railroad, with telegraph
and telephone lines, from the Pacific
coast to interior waters and mineral
region of Alaska, at a cost not to eX-
ceed S35,000,O00.
telephone lines. from the Pacific coast to
Laws placing war footing the vol
unteer militia and naval militia of the
states, subjecting them in time of war
to the call of the President.
Law regulating cotton future sales on
stock exchanges. providing tax OF
cents pound on sales for future deliv-
cry unless actually delivered under con-
ditions and grades established by the De-
partment of Agriculture
Emergency Measures.
Overshadowins much other important
legislation We're emergency measures
demanded by the extraordinary condi-
tions precipitated by the war in Europe
Such legisIatio included the following
measures:
War revenue law, imposing special in
ternal revenue taxes to aggregate ap-
proximate annual revenue of $4,000, ,00C
10 Offset estimated Treasury deficit due
to loss of customs receipts during the
European war.
Amendment to Panama canal act ad-
mittipg to American registry foreign
built ships of American ownership to
engage in overseas and South American
trade. ,.
Emergency currency act, permitting
banks Of national currency associations
10 issue circulating notes up to 125
per cent of their unimpaired capital and
surplus. and making available to banks
of the country more than S1,000.000 600
of emergency currency.
Law creating in the Treasury Depart
ment a bureau of war risk insurance,
appropriating $4,000 900 to insure ships
of American registry against hazards of
the European war.
RasoIutionS appropri3tipy T,0 o0O