The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-12-08

which the civilized world recoG
nizes 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 arc
maintaining the parity of all the money
issued or coined by authority of the gov
eminent. We are doing these thirgs with
the means at hand. Happily at the pres
ent time we are not compelled to resort &c
loans to supply gold. 1t has been done in
the past, however, and may have to bt
done in the future. 1t behoovcs us, there
fore, to provide ut once the best means to
the emergency when it arises and
TIC best means are those which are the
most certain and economical Those now
authorized have the virtue neither OF
eliminated one of the causes of our finan.
cial plight and embarrassment during
the years 1898, 1894, 1875 and 1875 Our re
ceipts now equal our expenditures; de-
fcient 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
CONS of the two metals on a parity with
each other, which is the repeatedly de-
clared policy of the United States.
In this connection repeat my former
recommendation that portion of the
gold holdings shall be placed in 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, arc justly provoking public dis.
cussion and should early claim the nttan-
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 ana establishments
which previously to the formation of the
combination were carried on separately,
1t is universally conceded that combina
lions which engross or control the market
Of any particular kind of merchandise or
commodity necessary to the general COM
munity, by suppressing natural and ordi.
nary competition, whereby prices are un.
duly enhanced to the general consumer,
are obnoxious not only to the common
law, but also to the public welfare There
must be remedy for the evils involved
in such organizations. If the present law
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
most important subject should be prompt
ly ascertained and asserted.
The state legislation to which President
Cleveland looked for relief 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
ent 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
~" lie the enforcement of state laws diff
cult.
Is apparent that uniformity of legis-
lation upon this subject in tho 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 Il completes system of laws through
out the United States adequate to compel
a general observance Of the salutary rules
to which have referred.
The whole question is so important and
far.reaching that l am sure no part of 1t
will be lightly considered, but every phase
of it will have the studied dcliberAtion Of
the congress, resulting in wise and judo
ious action.
Nicaragua Canal.
Tho Nicaragua Canal commission which
had been engaged upon the work of ex-
and survey for Il ship canal route
across Nicaragua having competed its
labors and made its report, was dissolved
on May 81, and on June 10 new commits
sion known as the Isthmian Canal com
was organized under the terms
of the act approved March 3, 1899, for the
purpose of examining the American 18TH
mus, with view to determining the most
and feasible route for shin
canal across that isthmus Good progress
has been made, but under the law u 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 l:,y message of year ago ex-
pressed my views of the necessity Of ca
nal which would link the two great
oceans, to which again invite your con-
sideration. The reasons then presented
fer early action are even stronger now.
Alaskan Boundary Dispute.
In my last annual message referred to
the pending negotiations with Great Brit
ain in respect to the Dominion of Canada
By means of an executive agreement a
Joint high commission had been created
for the purpose Of adjusting all unsettled
questions between the United States and
Canada. Much progress had been made
by the commission towards the adjust
ment of many of these questions where it
became apparent that an irreconciliable
difference of views was entertained re.
specting the delimitation Of the Alaskan
boundary. In the failure Of an agreement
as to the meaning Of articles and 4 Of
the treaty Of 1925 between Russia and
Great Britain, which defined the bound
airy between Alaska and Canada, the
American commissioners proposed that the
subject of the boundary be laid aside and
that the remaining questions Of difference
be proceeded with. This being declined