The initiative and the recall of judicial decisions, as amendments to the federal constitution, are proposed by Senator Bristow in resolutions laid before the Senate. Senator Bristow's first resolution would permit the President to submit to popular vote at a congressional election any measure he has recommended to Congress and upon which no action has been taken for six months. The second would provide that "if the supreme court shall decide a law enacted by Congress is in violation of the provisions of the constitution of the United States, the Congress at a regular session held after such decision may submit the act to the electors at a regular congressional election." Under such amendment it is proposed that the questions submitted to the people must have a majority of the popular vote in a majority of the states, as well as in a majority of the congressional districts of the nation.

Permission to use the mails under the Sherman antitrust law as "conspiracies in restraint of trade" may be denied to the nation's stock exhanges and bank clearing houses, according to the declaration of Representative Pujo of Louisiana, chairman of the House banking committee and head of the "money trust" investigating committee. "I believe it is clearly shown," he says, "that the stock and some of the produce exchanges as well as most of the 'clearing houses' are conspiracies in restraint of trade. As such, all of their interstate business should be barred from the mails. The committee, I feel certain, will recommend such action. In listing securities, in limiting the size of their membership by the various other restrictions, the stock exchanges and clearing houses have become, in effect, monopolies of commerce that are amenable to the law."

December 14, 1912

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