The Denison review. [volume] (Denison, Iowa) 1867-current, 1899-12-08

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public confidence in the ability and pur-
pose of the government to meet
all its obligations in the money
which the civilized world recog-
nlzes as the best. The financial
transactions of the government are con-
Quoted upon a gold basis. We receive
gold when we sell United States bonds
and use gold for their payment. We are
maintaining the parity of all the money
issued or coined by authority of the gov
eminent. We are doing these things with
the means at hand. Happily at the pres
ent time we are not compelled to resort to
loans to supply gold. 1t has been done in
the past, however, and may have to be
done in the future. 1t behooves us, there
fore, to provide at once the best means to
meet the emergency when it arises and
tue best means are those which are the
most certain and economical. Those now
authorized have the virtue neither of
directness or economy: We have already
eliminated one of the causes of our finan
clal plight and embarrassment during
the years 1898, 1894, 1895 and 1896 Our re-
ceipts now equal our expenditures; de-
ficient revenues no longer create alarm.
Let us remove the only remaining cause
by comforting the full and necessary
power on the secretary of the treasury and
impose upon him the duty to uphold the
present gold standard and preserve the
coins of the two metals on q parity with
each other, which is the repeatedly de-
clared policy of the United States.
In this connection repeat my former
recommendation that a portion of the
gold holdings shall be placed in a trust
fund from which greenbacks shall be re-
deemed upon presentation, but when once
redeemed shall not thereafter be paid out
except for gold.
The value of an American merchant
marine to the extension of our CONNER
cial trade and the strengthening of our
power upon the sea invites the immediate
action of congress.
The Trust Problem.
Combinations of capital organized into
trusts to control the conditions of trade
among our citizens. to stihe competition,
limit production and determine the prices
of products used and CONSUMED by the
people, are justly provoking public dis
-cussion and should early claim the atten-
ton of the congress-.
The subject is one giving rise to many
divergent views as to the nature and vari
ETY. or cause and extent of the injuries to
the public which may result from large
combinations concentrating more or less
numerous enterprises and establishments,
which previously to the formation of the
combination We're carried on separately,
1t is universally conceded that combina-
tions which engross or control the market
of any particular kind of merchandise or
commodity necessary to the general COM
mun1ty, by suppressing natural and ordi-
nary competition, whereby prices are I'M
a n ha tn tha
are obnoxious not only to the common
law, but also to the public welfare. There \
must be a remedy for the evils involved
in such organizations. If the present law I
can be extended more certainly to control
or check these monopolies or trusts, it
should be done without delay. Whatever
power the congress possesses over this I
most Important subject should be prompt
ly ascertained and asserted. !,
The state legislation to which President !
Cleveland looked forrelief from the evils
OF trusts has failed to accomplish fully
that object. This is probably due to a
great extent to the fact that different
states take different views as to the proper
way to discriminate between evil and in
furious combinations and those associa-
tions which are beneficial and necessary
to the business prosperity of the country.
The great diversity of treatment in differ
emit states arising from this cause and the
intimate relations of all parts of the
country to each other without regarding
state lines in the conduct of business have
made the enforcement of state laws diff.
cult.
1t is apparent that uniformity of legis.
lation upon this subject in the several
states is much to be desired. 1t is to be
hoped that such uniformity founded in a
wise and just discrimination between
what is injurious and what is useful and
necessary in business operations may be
obtained and that means may be found
for the congress within the limitations of
Its constitutional power to SO supplement-
an effective code Of state legislation as to
make complete system of laws through
out the United States adequate to compel
q general observance of the salutary rules
to which have referred.
The whole question is SO important and
far reaching that am sure no part of it
will be lightly considered, butevery phase
of it will have the studied elaboration of
the congress, resu. ling in wise and judo
ious action.
Nicaragua Canal.
The Nicaragua Canal commission which
had been engaged upon the work of ex-
animation and survey for a ship canal route
across Nicaragua having competed it's
labors and made its report, was dissolved
, on May 81, and on June 10 a new commits
sion known as the Isthmian Canal com
mission, was organized under the terms
of the act approved March 3, 1899, for the
purpose of examining the American 18TH
mus, with a view to determining the most
practicable and feasible route for a ship
canal across that isthmus. Good progress
has been made, but under the law com
prehensive and complete investigation is
called for, which will require much labor
and considerable time for it's accomplish
ment. The great Importance of this
work cannot be too often or too strongly
pressed upon the attention of the CON
gress. In NV message of year ago 1 ex-
pressed my views of the necessity Of ca
nal which would link the two great
oceans, to which l again invite your CON
sideration. The reasons then presented
for early action are even stronger now.
AlaAkan Boundary nanuta