OCR Text |
Show J STATE BOARD OF TRADE TAKE? ACTION. Tho California State Board of Trad'-has Trad'-has adopted tho following preamble ond resolution In opposition to conferring confer-ring tho power of rate-making on the Interstate Commerce commission: Tho California Stnto Board of Trad--hereby exnresses Its unqualified opposition oppo-sition to tho policy of conferring unon tho Interstate Commerce commission tho power to regulate rates of transportation trans-portation unon Interstate commerc" "irrled by the railroads of tho United States. Tho conferring of such power would In tho opinion of this body, convert tho Interstate Commorco commlsslor into a board of traffic managers for nl' tho railroads carrying Interstate traf flc a policy which would bo thp equivalent of a merger of such rail roads and tho extinguishment of every element of competition. It would contravene tho national policy crystallized In what Is known as the nntl-trust law, tho provisions o' which were so successfully Invoked in resisting the merger of tho Northern Pacific and tho Great Northern railroads. rail-roads. It would vest tho Interstate Com- merce commission with tho power to regulate tho earning capacity of- tho 1 1,400,000,000 Invested In tho railroads f the country and by thus constituting constitut-ing that commission a potent factor In ' 'ho transportation business of tho country would confer upon tho railroads rail-roads tho moral right to enter tho arena of politics in their corporate ca-nclty ca-nclty as a measure of defense against . Mio possible arbitrary and confiscatory I sxerclso of this power. I It would engender nt onco sectional t I strife between the different portions of the country as to tho measure of orotectlon which this power of regula- j tlon might bo invoked to confer upon he vnrlous sections a contest in which tho newer and moro sparsely J settled regions of tno United States ' vould suffer by reason of the overmastering over-mastering political power of the populous popu-lous centers, and from this source of langer the products of California aro especially menaced. In vlow of these objections, ..Be It Resolved by this board. That J ho' Senators and Representatives in Congress from tho State of California I oo requested to exercise their Inlu- ?nco nnd cast their votes against tho lollcy of conferring upon tho Inter- I state Commerce commission tho oower to fix the rates of trans- I oortatlon on the Interstate commorco I if this country. I |