%584.  Interstate Commerce.%—­In spite of the act of 1887 and some later laws, favored shippers were still given various unfair advantages in the service and charges of railroads.  In 1906 Congress greatly enlarged the power of the Interstate Commerce Commission to supervise railroads, express companies, and other common carriers operating in more than one state, and even authorized it to fix new freight and passenger rates in place of any it deemed to be unjust or unreasonable.

Besides this law to regulate interstate transportation, Congress passed several acts to regulate the quality of goods entering into interstate commerce.  Efficient inspection of meat-packing establishments was provided, at a cost of $3,000,000 a year.  Adulteration or misbranding of any foods, drugs, medicines, or liquors manufactured anywhere for sale in another state, was forbidden under heavy penalties.

%585.  Intervention in Cuba.%—­One of the provisions added to the Cuban constitution gave the United States the right to intervene “for the maintenance of a government adequate for the protection of life, property, and individual liberty.”  This right was first exercised in the autumn of 1906, when the Cuban government failed to suppress an insurrection in the island.  Efforts were first made, in vain, to bring about peace in Cuba without armed intervention; then the Cuban president resigned, our envoy Secretary Taft proclaimed himself provisional governor of Cuba, United States troops were stationed at various points, and the insurgents peacefully disbanded.  The work of completing the restoration of order and confidence, preparatory to the holding of a new election under the Cuban constitution, was intrusted by the President to Charles E. Magoon, who became provisional governor in October.

%586.  The Panic of 1907.%—­For several years our country had enjoyed unusual prosperity.  Never had the business of the country been better.  A distrust of banks and banking institutions, however, was suddenly developed.  Belief that the money of depositors was being used in a reckless way became widespread, and when a run on some banks in New York city forced them to suspend, a panic swept over the country.  People everywhere made haste to withdraw their deposits, and the banks for a time were forced to refuse to cash checks for large sums.  Business depression and hard times followed.

%587.  The Currency Law.%—­In the midst of the panic the Sixtieth Congress met and in the course of its session enacted (for six years) a currency law.  This is an emergency measure by which the national banks, when currency is scarce, may issue more under certain conditions.  The total amount put out by all the national banks must not be greater than $500,000,000.  Those using this currency must pay a heavy tax, which it is believed will lead to its prompt recall as soon as the emergency has passed.