The People's Money. a Brief Analysis of the Present Position in America, With Some Observations On the World-Organisation of Labour

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30 I believe that, broadly, the people can be relied upon to legislate for the benefit of the aggregate, in the same manner that we must expect the few to endeavour to protect the interests of the few.
II. — ^The Federal licence should be gran- ted from year to year — say, from March ist to March ist.
III. — ^All private individuals or unincor- porated firms transacting a yearly volume of business above a fixed minimum should be required to incorporate such business in order to bring them under
... effective central control. Congress should prescribe the form of the application to be made in respect to each of such corporations seek- ing a Government licence. This form should be so comprehensive in the scope of its questions as to exhibit the true position of each company and give the details of its capital and trading accounts. It should be certified under oath by the president and a majority of the board of directors of each company.
The Government should reserve the right to require specific replies, under oath, to any questions which might be raised 31 through an examination of the company's report, and, if not satisfied with the course pursued by the company, the Government should decline to grant an extension of the company's right to carry on its business.


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