| Show ANOTHER ROOSEVELT ROOSEVELT FANTASY In his St Louis speech President Roosevelt had another happy thought to express happy that Is from his point of springing It on an unsuspecting public He has about reached the con conclusion conclusion elusion that It would be a good thing ething to have federal control of ot corporations doing an interstate business patterned somewhat after atter the system of or control of national banks The Chicago Inter Ocean one of the Republican organs has fallen Callen out of sympathy with the ex executive executive executive policy has taken the trouble I Ito to estimate the number of or corporations which would be brought under the es espionage and control of ot the Washington authorities If the presidents idea be became became became came effective In law It finds that fully corporations would be sub subjected subjected subjected to this control and It explains some of the beauties of the plan by pointing out the powers of the comp comptroller comptroller comptroller of oC the currency In national bank affairs For instance the comptroller may appoint a receiver for a bank at his own discretion and his action is not re viewable by any court It is not necessary necessary necessary sary for tor his reasons In such action to tobe tobe tobe be justified by competent legal evi evidence evidence evidence dence as to the facts on which the ac action action action tion is based The debtors of a na national n national bank when sued by a receiver so appointed may not question the validity of his appointment and the comptroller may appoint a receiver or make an assessment upon stockholders without a prior judicial determination of the necessity for a receiver or of the existence of the banks liabilities It be a pleasant prospect for a private corporation big or little littleto to be confronted with such a surveillance surveillance surveillance lance of ot Its affairs it be en encouraging encouraging encouraging for investors Inv t rs to contemplate the possibility that some government might walk in and appoint a receiver at his own discretion when whenever whenever whenever ever the mood struck him and without any court review of f his action Im Imagine Imagine Imagine agine the tremendous power of or an ad administration administration administration ministration armed with authority to take such measures at any an time with offe ot of O corporations corpo any anyon one on o f the tiie states or territories pic picture Pl ture the pleasant picking for political p p t c appointees endowed with unrestricted authority to hold up the business of any corporation at any hour without let or hindrance from courts If It that scheme centralization and paternalism gone mad then there Is no sanity left In the country It portends autocracy of the worst type because unrestrained by the obliga obligations obligations tUrns which attend even the greatest of the autocrats and It would if car carried carried ried ned out degrade commercial enterprise to a political 1 s hitherto un undreamed undreamed dreamed of in this country Beside such sucha a scheme the socialists Utopian plan for government ownership oC of every means menus of production and transportation tion is a mild form of ot economic de delirium delirium delirium With all aU his eccentricities and vaga vagaries vagaries ries rica his surprises and misdirected en enthusiasms enthusiasms enthusiasms the president has never pro propounded propounded propounded pounded anything half so weird and fantastic It is about the ultimate of ot even his astounding versatility In the origination of plans for the disturb disturbance disturbance disturbance ance of oC commercial life In this country |
