Paragraph (d) of Regulation VIII is relettered (c), and appears above.

But it really ought to be taken up and regulated by law, in order to prevent the President and the departments being subjected to pressure every time there is a holiday for additional leave of absence.

Well that rather confirms what I say, that it is a question that would need considerable study and investigation in order to determine it, but I should think it would be plain that whatever powers, as I stated the Federal Trade Commission has, would be incidental in some way or other to interstate commerce.

Of course anyone that gives the matter a moment's thought would recognize the great difficulty of the Government in undertaking to say what securities are good or sound or some equivalent word and what are not.

I think it should not, on the grounds that the amount was fixed by the Department upon full examination.

The application for pension is fraudulent and should not be allowed.

It was thought no more than reasonable to grant this facility to the trade of Texas, under such conditions as seem best calculated to guard against abuse or inconvenience.