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solved the immigration problem: they have by no means been successful in keeping out all undesirable foreigners and letting in only those whose presence is beneficial.

I. Interstate Commerce Defined. Domestic commerce is that which is carried on within the United States, and consists of interstate commerce and intrastate commerce. It is not easy to draw clearly the line which separates interstate from intrastate commerce. Broadly speaking, when a commercial transaction begins in one State and ends in another, that transaction is a subject of interstate commerce, but when a commercial transaction begins and ends in the same State it is a subject of intrastate commerce. When a merchant ships his goods to a point within a State he engages in intrastate commerce; when he ships them to a point outside of the State he is engaged in interstate commerce. A railroad which has its termini and the whole length of its tracks within the State cannot be regarded as being engaged in interstate commerce, but a railroad which has its termini in different States must be so regarded. A river lying wholly within a State and having no connection with bodies of water extending beyond the boundaries of the State-a thing which rarely ever occurs is an instrument of intrastate commerce, but a river wholly within a State connecting with navigable waters that extend beyond the boundaries of the State is regarded as an instrument of interstate commerce. Does a certain commercial act or a certain instrument of commerce, a river, a canal, a railroad,

concern one State or more than one? If it concerns one State only it is an affair of intrastate commerce; if it concerns more than one State it is an affair of interstate commerce.

II. The Regulation of Interstate Commerce. The men of the convention treated the whole subject of commerce with a firm hand. They gave to Congress complete power to regulate commerce between the States (47). They forbade a State to lay tonnage (76) or any export or import duty without the consent of Congress (74). Within its borders a State can regulate its commerce in its own way, but goods and passengers that are on their way from one State to another are placed under the regulation of the federal government.

The power of Congress over interstate commerce is comprehensive and far-reaching. It extends to the instruments of commerce,-to canals and vessels and railways and telegraph lines, and to the persons engaged in it, as well as to the articles of commerce themselves. Under the provisions of the interstate commerce clause a State is not permitted to discriminate by taxation or otherwise against residents of other States, or against business carried on by them in the State.

III. The Interstate Commerce Commission. The most important agency for regulating interstate commerce is the Interstate Commerce Commission (p. 35), which was established by Congress in 1887. The law which created this commission requires that freight and passenger rates shall be just and rea

sonable, that there shall be no discrimination between persons and localities; it provides that there shall be proper facilities for the interchange of traffic between connecting lines; it forbids the issuance of free interstate passes; it requires that railroads print and make public their freight and passenger rates. A supplemental law (the Elkins law, passed in 1903) forbids rebates and provides that rates lower than those published shall not be charged. It is the duty of the Interstate Commerce Commission to carry these provisions into effect.

In 1906 Congress gave the Commission, upon the complaint of an interstate shipper (or passenger), the power to do away with a rate which it regards as unjust or unreasonable, and to fix a new rate which it regards as just and reasonable. In 1910 Congress went a step further and empowered the Commission to make investigations of its own motion, and when it finds certain rates unreasonable and unjust, to change them, even though there has been no complaint whatever. Moreover, by the law of 1910 new rates may be suspended in their operation by the order of the Commission, and if upon investigation they are found by that body to be unjust and unreasonable they cannot go into operation at all. The railroads, however, have the right to appeal to the federal courts where the decisions of the Commission may be overruled. The control which the Interstate Commerce Commission exercises over railroad rates makes it an agency of vast importance and power.

In 1916 Congress created a Shipping Board for the

purpose of encouraging, developing and creating a naval auxiliary and reserve and a merchant marine to meet the requirements of the commerce of the United States. The Board is composed of five commissioners appointed by the President. The Board is authorized to purchase, lease, or charter vessels suitable for marine trade and it may operate such vessels itself or lease them to be operated by others. It has large powers in respect to the regulation of the rates and fares charged by vessels engaged in foreign or interstate commerce.

CHAPTER XIX

CORPORATIONS

I. Individual Enterprise. The great private corporation of to-day is the outcome of changes which have been occurring in commerce and industry during the last two centuries. Before the eighteenth century commerce and industry were organized on the basis of individual effort. Cloth was woven in a shop in which there was but one loom, and the operator of the loom was its owner. The man who ground the grain was the owner of the mill. Shoes were made by the owner of the shop. Passengers were conveyed from town to town in a coach owned by its driver. And so it was in all the trades and occupations: they were all organized and conducted on the basis of individual enterprise.

About the middle of the eighteenth century a great change began to come over the face of industry. In 1733 John Kay invented the flying shuttle and thereby doubled the efficiency of the loom. A few years later water power was applied to the loom. One man could now operate two looms, and could weave four times as much cloth as could be woven before. In 1769 Arkwright brought out his wonderful spinning-machine, and in the same year Watt patented his condensing

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