THE WAR AGAINST CORPORATIONS.

Taranaki Daily News, Volume L, Issue 60, 30 July 1907, Page 3

THE WAR AGAINST CORPORATIONS.

THE CAROLINA DIFFICULTY OVERCOME. THE .STATE LAW AGREED To 11Y RAILWAYS. Received i'.ltli. 10.17 p.m. New York, duly 29. A settlement has been reached in tb« conflict between the Governor of North Carolina and the Federal Circuit Court a., cabled on the 2.Jib iust. The railway implicated agreed to the Governor - , proposal lo operate from the Mil of August, a proviso al.-o being made that the highest court, in the land shall spcerdily adjudicate on existing eas,...

(1 he cable referred to stated that the Governor of North Carolina refused to I'iK-y the niling of the Federal Circtiir Court declaring the State law on railway rates unconstitutional. Speakln" at Indianapolis some weeks since. Prof dent Roosevelt said, among other things, that property was in iess'jeopardv from' Socialists and Anarchists than from predatory men of wealth. The Government. he affirmed, did Mo' intend to refrain from asserthr; the right of the nation to control tii.. use of wealth by business concerns, especially in corporate form. The Government must, he said, exercise over railways a power analogous to that exercised over national banks. It must prevent over-capitalisation or undue in- I nation of securities. "Every honestly managed railway will." said the Presj- | dent, "gain under this policy. The Oovernment purpose is in no sense punitive or vindictive. No individual .State is powerful enough to cope legislatively with powerful corporations engaged in inter-State commerce.")