Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-12-11

| b'iHhS anu III icSS lIbpulOJlS commune
ties than are now permitted and
authorizing banks to establish branches
in small communities under proper
restrictions.
The entire case may be presented
! by the statement that the day of sensi-
BILE and sound financial methods will
not dawn upon us until our govern
ment abandons the banking business
and the accumulation of funds and
confines its monetary operations to
the reception of the money contribute
ed by the people for its support and to
the expenditures of such money for
the peoples benefit. Our business
interests and all good citizens long for
rest from the feverish agitation and
the Inauguration by the government
of reformed financial policy which
will encourage enterprise and make
certain the rewards of labor and in
dustry.
| TRUSTS.
Another topic in which our people
rightfully take a deep interest may be
here briefly considered. | refer to the
existence of trusts and other huge
aggregations of capital the object of
which Is to secure the monopoly of
some particular branch of trade, in
| dustry or commerce, and so stifle
wholesome competition. When these
are defended it is usually on the
ground that though they increase
nrnfIfS tEnU alS.N rn,la,rn nj
thus may benefit the public. 1t must
be remembered, however, that a re-
duction of prices to the people is not
one of the real objects of these organ
izations, nor is their tendency neces-
| sarlly i'll that direction. Ii it occurs
in a particular case it is only because
it accords with the purpose or interest
of those managing the scheme. Such
irrational results fall far short of COM
pensating the palpable evils charged
to the account of trusts and monopo-
lies. Their tendency is to crush out
| individual independence and hinder or
prevent the free use of human facul-
ties and the full development of
human character. Through them the
farmer, the artisan and the small
trader is in danger of dislodgement
from the proud position of being his
own master, watchful of all that
touches his country's prosperity, in
which he has an individual lot, and
interested in all that affects the adj
vantages of business, of which he is n
factor to be relegsted to the level of a
mere appurtenance to great
machine, with little free will, with no
duty but that of passive obedience,
and with little hope or opportunity
OF rising in the scale of responsible
and healthful citizenship. To the in
stinctive belief that such is the in.
evitable trend of trusts and monopo-
lies is due the widespread and deep
seated popular aversion in which they
are held, and the not unreasonable in.
slstence that whatever may be their
incidental economic advantages, Their
general effect upon personal charac.
ter, prospects and usefulness cannot
be otherwise than injurious. Though
Congress has attempted to deal with
this matter by legislation, the laws
passed for that purpose thus far have
proved ineffective, not because of any
lack of disposition or attempt to
enforce them, but simply because the
laws themselves, as interpreted by the
courts, do not reach the difficulty. II
the insutficiency of existing laws can
be remedied by further legislation, il
should be done. 1t should be recog-
nized, however, that all financial leg.
islation on this subject may fall short
OF its purpose because of inherent
obstacles and also because of the com.
pick character of our government
which, while making the federal au
thority supreme within its sphere, has
carefully limited that sphere by bonds
that cannot be transgressed. The de.
cision of our highest court ON the pre-
else question renders it quite doubtful
whether the evils of trusts and monop
olies can be adequately treated through
federal action unless they seek di
rectly and purposely to include in
their objects transportation or inter.
course between States or between the
United States and foreign countries
1t does not follow, however, that this
is the limit Of the remedy that may
be applied. Even though it may be
found that the federal authority is no,
broad enough to fully reach the case
there can be no doubt of the power OF
the several States to act effectively in
the premises, and there should be nc
reason to doubt their willingness tc
Judiciously exercise such power.
LIFE SAVING SERVICE.
From the life saving service it is re.
ported that the number of disasters tC
documented vessels within the limits
of its operations during the year was
537. These vessels had on board A.
Cos persons, of whom 1896 were saved
and Ii lost. The value of such vessels
is estimated as $3.50, 40 and of their
cargoes $3,S46,3S0 making the total
value of property imperiled $12,726,-
$40. Of this amount, ST., 1896, 707 was
saved and ST. ,432. $50 was lost.
Sixty-seven of the vessels were
totally wrecked. There were besides
243 casualties to small undocumented
crafts on board of which there were
594 persons, of whom, 5S7 were saved
and seven lost. The value of the
property involved in these latter casu-
alties is estimated at Sis, 265 of which
$ll4,955 was saved and $4,35O was
lost. The life saving crew during
the year also rescued or assisted
numerous other vessels and warned
many from danger by signals both by
day and night. The number of
disasters during the year exceeded
that of any previous year in the
history of the service, but the saving
OF both life and property was greater