Word: esch
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...actions, and of laws to back up the actions, has extended from the first-named function (rate-making) to the third-named (scrutiny of financial structures). In 1906, for example, the so-called Hepburn Bill finally gave the I. C. C. power to fix rates. Whereas in 1920, the Esch-Cummins Act, which returned the railroads to private control after the War, invaded whatever "private rights" a "public utility" may have, by requiring the railroads to pay the Interstate Commerce Commission one-half their profits above 6%. This so-called "recapture" clause, designed to create a revolving fund to help...
...Miss Leona Marie Esch of Cleveland said that the only way to beat the criminal was to "load the dice," i.e. stiffen the law. "He gambles with the law," said Miss Esch, "playing three to one he never will be caught, two to one he never will be convicted, and then playing a last chance [that] he will never be sent to a state penal institution...
...made their decision, but like schoolboys, they knew that their teachers (in this instance the nine justices of the U. S. Supreme Court) would be the final arbiters. The dispute was over the valuation of U. S. railroads. It had been stewing a long time-since 1914 when the Esch-Cummins Act went into effect. By this Act Congress ordered the I. C. C. to reckon up the values of each of the U. S. railroads according to some fair formula and to use such valuations as the basis upon which to figure transportation rates. The Act also provided that...
...Senate along with many another radical. This Senator from Iowa was no radical at heart, no Smith Wildman Brookhart, no Magnus ("Magnavox") Johnson. He soon was known for what he was-efficient, profoundly informed, hard-working legislator, Chairman of the Senate Interstate Commerce Committee, co-author of Esch-Cummins Transportation Act, later Chairman of the Judiciary Committee. This year he has been conspicuous as staunch backer of the Coolidge Administration on every issue except farm relief. But Iowa perhaps prefers radicals. Mr. Cummins was growing old and peaceful, so Smith Wildman Brookhart was chosen to succeed him as Republican Senatorial...
...Brookhart has been stumping Iowa telling it just that, saying that Wall Street put him out of his seat, saying that Wall Street defeated the Haugen farm relief bill, saying that Wall Street put over the Esch-Cummins railway bill and the farmers are paying (through freight rates) the dividends on watered stock, saying that the farmers are enriching Wall Street because they have to buy under the protective tariff, saying Wall Street and the Administration are hand in glove, and mentioning incidentally that he voted against World Court adherence...