Political Economy
This historic (Political Economy) book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book (without typos) from the publisher.
Excerpt: ... BOOK REVIEWS The Federal Power over Carriers and Corporations. By E. Parmalee Prentice. New York and London: The Mac millan Company, 1907. 8vo, pp. xii+244. This book is obviously, though not very frankly, a brief for those interested in denying to the federal government the constitutional power to regulate and control large corporations engaged in interstate transportation or trading. The author argues that at the time the Constitution was adopted the grant of power to Congress to regulate commerce with foreign nations among the several states, and with the Indian tribes was meant, as regards interstate transportation, to give only the power of regulating carriage by water, because, at the time, interstate carriage by land was utterly insignificant and could not have been in the minds of those adopting the Constitution as needing national regulation. Also, prior to 1824 when Gibbons v. Ogden was decided, a large number of stage monopolies over certain roads and between certain points had been granted by the states without protest, although over some of these routes goods must have been carried from state to state; and many exclusive grants of ferriage had been granted across waters separating two states. He quotes from contemporaneous writings and congressional debates various opinions to the effect that Congress could not authorize or regulate land carriage within a state, and contends that the broad language of Marshall in Gibbons v. Ogden was not meant by him literally, but only as applied to navigation (pp. 70-98). He also thinks that the present decisions upon the subject of interstate commerce "go to the limit of federal power, and extension of present rules" (as by upholding federal interstate rate-making) "would be embarrassed by extraordinary cons...
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