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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jan 08, 1910
Page
30
President urges federal incorporation of industrial firms and a new United States court of commerce to standardize enforcement of interstate commerce and anti trust laws. He argues for speedy, uniform rulings and federal handling of ICC orders to curb discriminatory rates and retain fair competition.
President Taft calls for sweeping Interstate Commerce Commission powers to investigate proposed rail rate increases immediately, curb carrier wealth by restricting stock ownership, require par value payments for new stock, and empower the commission to shape route choices and classify commodities. He seeks federal charters for large interstate concerns while maintaining state oversight, and urges legal changes to curb monopolistic practices without disrupting national economic progress.
The proposal urges Congress to enact a general law forming interstate and foreign corporations with strict federal oversight. It details stock rules based on cash or fair property valuation, full disclosure, equal taxation, and regular reports to the Department of Commerce and Labor. It also limits cross holdings to prevent national holding companies and trusts, noting continued discussion on page fourteen.
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