“I believe we ought to have remedies in both state and nation, and that they should be concurrent remedies. In the first place, every state has, or should have, the right to create any private corporation, which, in the judgment of the people of the state, is conducive to the welfare of the people of that state. I believe we can safely entrust to the people of a state the settlement of a question which concerns them. If they create a corporation, and it becomes destructive of their best interests, they can destroy that corporation, and we can safely trust them both to create and annihilate, if conditions make annihilation necessary. In the second place, the state has, or should have, the right to prohibit any foreign corporation from doing business in the state, and it has, or should have, the right to impose such restrictions and limitations as the people of the state may think necessary upon foreign corporations doing business in the state. In other words, the people of the state not only should have a right to create the corporations they want, but they should be permitted to protect themselves against any outside corporation. “But I do not think this is sufficient. I believe, in addition to a state remedy, there must be a Federal remedy, and I believe Congress has, or should have, the power to place restrictions and limitations, even to the point of prohibition, upon any corporation organized in any state that wants to do business outside of the state. I say that Congress has, or should have, power to place upon the corporation such limitations and restrictions, even to the point of prohibition, as may to Congress seem necessary for the protection of the public. “Now, I believe that these concurrent remedies will prove effective. To repeat, the people of every state shall first decide whether they want to create a corporation. They shall also decide whether they want any outside corporation to do business in the state; and, if so, upon what conditions; and then Congress shall exercise the right to place upon every corporation doing business outside of the state in which it is organized such limitations and restrictions as may be necessary for the protection of the public.” The legislation to be enacted by Congress Mr. Bryan roughly outlined as follows: “Suppose that Congress should say that whenever a corporation wants to do business outside of the state, it must apply to and receive from some body, created by Congress for the purpose, a license to do business. Suppose the law should provide three conditions upon which the license could be issued: “1. That the evidence should show that there was no water in the stock. “2. That the evidence should show that the corporation has not attempted in the past and is not now attempting, to monopolize any branch of industry or any article of merchandise; and “3. Providing for that publicity which everybody has spoken of and about which everybody agrees.”