Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-10-23
NOW
PASSING HAS
Been ACIOVE
Continued tom page ous}

| provision to build a government rail
road in Alaska.
The Congress vas remarkable for
the fact that in less than two years it
had to deal with conditions arising
from two foreign gars-the revolution
in Mexico and the European conflict
and was on the verge of facing a war
between the United States and Mexico.
! Both of these situations demanded
! emergency legislation, some OF which
may have far.reaehing effect upon the
! future course Of the nation in its for
eign affairs.
AS 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 Pa
mama canal act. This led to an align
ment which placed the President and
some Of the party leaders on opposite
sides. Among those who took issue
with the Chief Executive were Speak.
er Clark and Majority Leader Under
wood Speaker Clark's defense of his
opVositionst to repeal furnished one Of
the most spectacular elimaxes in the
history of the House.
President Appears. ....e..... ....-..
The President appeared before joint
sessions of the iiUlse and Senate on
/ five occasions He delivered his gen
eral legislative message December g.
Subsequent messages were on anti
trust legislation, the Mexican situation,
pleading for continuation of "watehful
waiting the tolls repeal bill and the
necessity for war revenue bill
Most important of the laws enacted
! By the Congress since December l,
/ 1918, were:
Federal Reserve Act creating IL
regional reserve banks. and federal
reserve board of control, and reform
ing the currency system. T.
Federal Trade Commission Act Gre
ating commission of five members
and absorbing the bureau Of corpora
tons to investigate organization, con.
duct and practise of Industrial cor.
porations: inquire into unfair compe-
tition and alleged violation Of anti.
trust acts; to aid, the department Of
justice and the courts in the prosecu.H
ton of business offenders; to make
public infermations deemed to be of
public interest relating to Industrial
conditions and TO recommend remedial
business legislation. i
The CLAYTON Antitrust Act, which
provides for guilt of individuals con.
nected with corporations convicted of
violating the antitrust laws, limits in
terloeking corporations convicted of
violating the antitrust laws. limits in
terlpcking directories, prohibits hold
ing companies which VIII lessen com
petition, prevents exclusive and tying
contracts, liberalises laws relating to-
injunctions and contempt and exempts1
from prosecution under antitrust laws
agricultural, horticultural, frateFnalI
and labor organizations
Panama Canal Bill.
Act repeating provisions of the Pa
mama canal law exempting from pay.
ment of tolls American vessels engag
ed in coastwise shipping of the Unit.
ed States.
The Alaska Railroad Law providing
for government construction and oper.
alton OF 1000 miles of railroad with tel
|egraph and telephone lines. from the
lower Pacific coast to interior waters
and mineral region of Alaska at a cost
not to exceed $4,000, 900.
Laws placing On a war footing the
volunteer militia and naval militia of
the states. subiecting them in time of
war to the call of the Adjntant -Gener-
al of the Army. z=.
Law regulating cotton future sales
on stock exchanges, providing a tax of
2 cents pound on sales Tor future,
delivery unless actually delivered un.
der conditions and grades established
by the DEPARTMENT of Agriculture.
Overshadowing much other impor.
tant legislation were emergency mea-
sures demanded by the extraordinary
conditions precipitated by the war in
Europe. Such legi8lation, enacted or
about to become law, included the fol.
lowing measures; F.. ~: ~
War Revenue Law imposing special
internal revenue taxes to aggregate APP
pro1imate annual revenue of $19S,o00,-
900 to offset estimated treasury def
III .uuS IL 5tbSS CttbtDlh6 iCJtIpIo
during the European war.
Amendment to Panama Canal Act
admitting to American registry foreign
built ships of American ownership to
engage in overseas and South Ameri.
can trade. ~.,..
Currency Act. ......
Emergency Currency Act permitting
banks of national currency associa-
tons to issue circulating notes up toi
LIS per cent of their unlmpaired cap
ital and surplus and making available
TO banks OF the country more than
81 900 .090.0o0 of emergency currency.
Law creating in the Treasury De
partment bureau of war risk insur-
ance, appropriating $4,000, 600 to in
sure ships of American reistry against
hazards of the European war
Resolutions appropfiating 81. 900
for protection and transp0ftatio1 Of
American citizens stranded n Euro.