NEWS WORTH REMEMBERING
News Worth Remembering THREE of the nation's biggest financiers admitted to the Pujo Money Trust investigating committee last week that the present concentration of industry and credit in this...
...Creation of a state industrial commission...
...It behooves every Democrat to he on the alert and to warn his Senators and his Member of Congress against any backward stop...
...This message offered the only opportunity remaining, before he takes up his duties as President of the United States, to lay before the law makers of his own state his rec-ommendations for needed legislation...
...Untermyer was unable to draw from Perkins a more definite answer than that, "I am very glad that committee is wonting on those lines (uncovering the present state of concentration) but whether that thing itself does or does not (constitute a peril) I am not prepared to say until I have had time to contrast it with a great many other things in the country...
...Reynolds Gives Warning George M. Reynolds, president of the Continental and Commercial National Bank of Chicago, who admitted some months ago at a gathering of financiers and hankers in Philadelphia that he was one of the twelve men who constitute the money power, admitted flatly to the committee that the present concentration of money and credit is a potential "menace to the country...
...I believe that concentration to the point it has already gone is a menace...
...Baker...
...That will be all, Mr...
...Very much...
...Letting state workshop inspector regulate working hours of women and children where 9-hour law is insufficient...
...Direct election of United States Senators...
...Not entirely," said Mr...
...The Baltimore platform says: "Our pledges are made to be kept when in office as well as relied upon during the campaign...
...You see a peril in that, do you not...
...Statewide primary, including presidential preference...
...Untermyer closed the examination precipitately...
...Mr...
...It might not be dangerous, but still it has gone about far enough...
...Baker," he said, smilingly, and the spectators sat back with a sigh...
...Thomas J. Walsh, a Democrat, the popular nominee, was unanimously elected by the Montana legislature to the United States Senate...
...Using Ohio state university engineering students in making valuation of utilities...
...By WILLIAM JENNINGS BRYAN WE HAVE a Democratic Senate and a Democratic House, as well as a Democratic President, hut let no one think it safe to go to sleep...
...He said, "I am opposed to the concentration of any sort of power...
...Former Congressman Edwin C. Burleigh was elected United States Senator by the Maine legislature...
...Employment of state engineer to direct physical valuation of utilities...
...A mother's pension...
...Baker, very slowly...
...And Mr...
...But he admitted that, "I am against concentration, that reaches a point of peril...
...If it got into bad hands it would be very bad...
...Easier removal of public officials...
...A constitutional convention...
...Throwing open school buildings for political and neighborhod meetings and encouragement of social center movement...
...Paying prisoners' families profits on prisoners' work...
...Morgan and sought to explain his tremendous power, "not because he is connected with the big banks of New York, but because he has lived an earnest and tremendously strenuous life in the study of these questions for half a century and the people have bought and bought securities his name had been put to, and have believed they came out right...
...Commission to investigate farm credits...
...So, that the safety, if you think there is any safety in the situation, really lies in the personnel of the men...
...If it got into bad bands it would wreck the country...
...Submission of a constitutional amendment for home rule in taxation...
...Baker pondered the question for a time and then answered: "I think it has gone about far enough...
...Every official should be held to the letter and spirit of the platform...
...Separate ballots for state and national officers...
...I said it would be bad," explained the witness vigorously, "but I do not think it would wreck the country...
...The Short Ballot...
...I suppose you would see no harm," said Mr...
...News Notes —An echo of the Governors' Conference was found in the message of Governor Blease to the South Carolina legislature...
...Do you think that would be dangerous...
...The laws of New Jersey as they stand, so far from checking monopoly, actually encourage it...
...Taxing incomes, inheritances and franchises...
...Finally be said: "Yes, but I do not believe it could get into bad hands...
...Baker Sees Peril George F. Baker, intimate personal and business associate of J. Pierpont Morgan and head of the great First National Bank of New York, was closely questioned by Samuel Untermyer, the committee's counsel, with the result set forth in the following dispatch printed in the Chicago Tribune: Mr...
...Continued on page 10 Idaho by 75 votes to 7 cast for two other candidates...
...Extension of self-government for municipalities...
...Wilson Urges Trust Laws Governor Woodrow Wilson has sent his last message to the New Jersey legislature...
...Michigan's legislature re-elected Senator William Alden Smith, a Republican...
...You think it would be dangerous to go farther...
...Giving state utilities commission control over publicly owned utilities...
...In good lands I do not say that it would do any harm...
...You admit," persisted Mr...
...Inspection and regulation of investment companies of every kind...
...A liquor license law to be administered by a state commission...
...Full crews on all passenger trains...
...In saying that I do not wish to sit in judgment on the men who hold that power...
...The newspapers of the country gave wide publicity to Governor Blease's heated defiance of the Constitution and his declaration that in substance the white people of the South may and should be a law unto themselves in their relations to the negroes...
...I thought you said so...
...Perkins deftly turned aside the question by saying it reminded him of the conundrum, "Why is a mouse when it spins...
...The Colorado legislature elected two Democrats, former Governor Charles S. Thomas for the short term and Governor John F. Shafroth for the long term...
...Untermyer...
...Increasing school grade i. qualifications for employed children between fourteen and sixteen...
...We are speaking of this concentration which has come about, and the power that it brings with it, getting into the hands of ambitious men, perhaps not overscrupulous...
...Compulsory workmen's compensation...
...He vigorously defended Mr...
...I do not think bad hands could manage it...
...The spectators craned eagerly to catch the reply and Mr...
...State supervision over private banks...
...They could not retain the deposits nor the securities...
...He seized that opportunity by declaring that the corporation laws of New Jersey stand notoriously in need of improvement and urging that they be revised so as to prevent corporations from purchasing or holding stock in other corporations...
...Ratification of the income tax amendment to the Constitution of the United States and the amendment providing for the election of United States Senators by direct vote...
...Seven Senators Elected...
...I cannot imagine such a situation," protested the witness...
...Following are some of the items on the legislative program of Ohio's new and militant Democratic Governor: An anti-lobby law...
...Cox For Progress Governor James M. Cox, in his first message to the Ohio legislature, brought forward a program of fifty-six recommendations for laws in the public interest...
...Untermyer...
...Employing convicts on roads and state works...
...Do you think," demanded the lawyer, "that is a comfortable situation for a great country to be in...
...An appropriation to furnish free diphtheria antitoxin...
...Untermyer, "that if this concentration to the point to which it has now gone were by any accident to get into bad hands it would wreck the country...
...Asked by Mr...
...Senator William E. Borah, progressive Republican, was re-elected in Keep Your Eye On The Reactionaries...
...Immediate physical valuation of public utilities...
...Baker leaned back in his chair, his chin resting on his hand, watching the lawyer closely...
...Yes," answered Mr...
...Bureau of legislative research...
...There are reactionaries in the House, also, and an eye must he kept on them...
...Blue sky" law...
...Referring to the existing statutes, Governor Wilson said, "They are manifestly inconsistent with the policy of the federal government and with the interests of the people in the all important matter of monopoly, to which the attention of the whole nation is now so earnestly directed...
...The equal suffrage constitutional amendment was carried in the South Dakota senate last week, with only two opposing votes...
...I am not speaking of incompetent hands," said Mr...
...At this point Mr...
...Home rule for cities...
...Appropriation of $25,000 for tuberculosis bureau...
...Reynolds added that he was now and always had been opposed to the principle of interlocking directors in potentially competing business concerns...
...Prohibiting courts from issuing injunctions in rate cases without investigation...
...Congressman John W. Weeks, for years a loyal member of the System-Cannon organization of the House was elected United States Senator from Massachusetts last week by the legislature...
...The situation grew more tense...
...The officials at Washington should be informed that the rank and file of the Democratic party insists on the carrying out of the platform...
...Untermyer, "in having the control of credit as represented by the control of banks and trust companies still further concentrated...
...Commission to make school survey...
...Survey of occupational diseases...
...Baker was being questioned by Samuel Untermyer, counsel for the committee...
...Co-ordination between state government and state universities...
...Law to require a public license before securities are sold in New Jersey...
...Governor Cox sent a committee to Wisconsin immediately after his election to get thoroughly acquainted with the constructively progressive system of laws of that state and in his recommendations to the legislature are embodied many of the reforms so carefully worked out in Wisconsin...
...News Worth Remembering THREE of the nation's biggest financiers admitted to the Pujo Money Trust investigating committee last week that the present concentration of industry and credit in this country is a menace...
...Investigation by commission of minimum wage...
...They had reviewed the concentration which had been going on in Wall street for years...
...But Mr...
...demanded Mr...
...Untermyer whether he considered the concentration of money and credit "a menace and peril to the property of the country," Mr...
...Statewide civil service reform...
...Governor Blease urged the enactment of a law making it a misdemeanor for a newspaper reporter to misquote a public speaker...
...Among the other important reforms recommended by Governor Wilson are the following: Checks upon unwarranted and fictitious increases of capital and issuance of securities not based upon actual bona fide valuation...
...Untermyer...
...The first work to be done is to secure legislation which will give an immediate reduction of the high tariff, make a private monopoly impossible and reform the currency in the interest of the whole people with protection against Wall Street's control.—The Commoner...
...Ten cents spent by each voter for postal cards and cards used to indorse faithful representatives and to admonish unfaithful ones would work wonders in securing progressive measures...
...queried Mr...
...Immediate passage of a minimum wage law to apply where absolutely needed...
...Our majority in the Senate is very small—a few reactionaries may obstruct legislation or insist on concessions as the price of support...
...Perkins Shows Caution George W. Perkins, one time partner of J. Pierpont Morgan and at present active associate of Colonel Roosevelt in the new party, proved an elu-sive witness...
...Extension of agricultural school system and other practical forms of encouragement for farmers...
...The Baker lawyers sitting near by sat up in their chairs and looked interested...
Vol. 5 • January 1913 • No. 4
