New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-06


'n M nxed by the act Of January H. 1873.
nS,d nle mere Is now no commercial fright
WI. withdraws gold from the Government
oul' Oh the contrary. such widespread conf
uehce That gold seeks the Treasury demanding
paper money In exchange, yet the very situa-
non points TO the present as the most fitting
.iHle 10 make adequate provision to insure the
continuance OF the gold standard and OF public
commence In the ability and purpose of the
government to meet all its obligations in the
money which the civilized world recognizes ar
me best The financial transactions OF the Gov
eminent are conducted upon gold basis We
receive gold when we sell United States bonds
and use gold for their payment We are main
tanning the parity Of all the money issued or
coined by authority Of the Government. We
are doing these things with the means at hand
Happily, at the present time we are not com
pelled to resort to loans to supply gold, II
has been done in the past. however. and may
nave TO be done In the future. 1t behooYes u.s.
therefore, to provide at once the best means to
meet the emergency when 1t arises and the best
means are those which are the most certain and
economical
Those now authorized have the virtue neither
OF directness nor economy. We have already
eliminated one of the causes of our financial
pIght and embarrassment during the years
1888. 1894, 1895 and 1896. Our receipts now
equal our expenditures; deficient revenues
no longer create alarm. Let us remove the
only remaining cause by comforting the full and
necessary power on the Secretary of the Treas
ury and impose upon him the duty to uphold
the present gold standard and preserve the
coins OF the two metals on a parity with each
other, which is the repeatedly declared policy
Of the United States
In this connection 1 repeat my former recon-
mendations that portion OF the gold holdings
shall be placed in trust fund, from which
greenbacks shall be redeemed upon presenta-
ton. but when once redeemed shall not there
after be paid out except for gold.
ENCOURAGEMENT OF THE MERCHANT
MARINE.
The value Of an American merchant marine
to the extension Of our commercial trade and
the strengthening OF our power upon the sea In
vites the immediate action Of the Congress
Our National development VIII be one sided
and unsatisfactory long the remarkable
growth OF inland industries remains unac-
companied by progress on the seas There is
no lack Of constitutional authority for legisia-
tion which shall give TO the country maritime
strength commensurate with It's industriai
achievements and with its rank among the ma
tions of the earth.
The last year has recorded exceptional activ-
ity in our shIpyards and the promises OF con-
tinual prosperity In shipbuding are abundant
Advanced legislation for the protection of our
seamen has been enacted. Our coast trace,
under regulations wisely framed at the begin
ming of the Government and since shows re-
suits for the last fiscal year unequaHed In the
records Of those OF any other Power We shall
fail TO realize our opportunities. however, II we
complacently regard only matters at nome ana
blind ourselves to the necessity or securing our
share In the valuable carrying trace Oh the
world.
Last year American vessels transported
smaller share of our exports and imports than
during any former year in all our history. and
the measure of our dependence upon foreign
shipping was painfully manifested to our peo-
nile Without any choice OF our own, but from
necessity the departments Of the Government
charged with military and naval operations III
the East and West indies had to OBTAIN IRON
foreign flags merchant vessels essentlai ioi
those operations A.
The other great nations have not hesitated 10
adopt the required means to develop theII
shipping as a factor In National defence. and as
one OF the surest and speedlest means OF on
tanning for their producers a share IN forelBh
markets Like vigilance and effort on our part
cannot fail to improve our situation, WhcH j.
regarded with humiliation at home ana win
surprise abroad. Even the seeming sacIn n
which at the beginning may be invOV tein VIII NC
The expense is as nothing compared 10 the
advantage to be achieved. The re-estaohsh i
OF merchant marine Involves IN ia nd
measure our continued Industrial progress any
the extension OF our commercial triumphs.
am satisfied the judgment OF the country ldIoIS
the policy of aid to our merchant marine, Wiz
yin broaden our commerce and markets ana
upbuild our sea carrying capaclty lot the P iOE
ucts0 Of agriculture and manufacture, VIII MI
with the increase of our navy, mean more Work
and wages to our countrymen, as well as sale
guard to American interests in every part u
the world. ,r,srs
Combinations Of capital organized into trusts
10 control the conditions OF trade among oui
citizens to stlhe competition. limit prouuS'lo li
and determine the prices or prouuGts useu ~, az
consumed by the people, are justly p, ,o.oN ne
nubIic discussion and should early claim 'he
attention Of the Congress. =, .ho
The Industrial Commission. created py tne
oct of the Congress of June IL, ISIS, mas peeh
engaged In extended hearings upon the us
puted questions involved in the subject VI vGd
bnations in restraint of trade ana
they have not vet completed their investigation
~ this subject and the conclusions ana recon-
mendations at which they may arrive are sue
termined. The subject IS one eiN,ns me- aud
roanv divergent views to the nature ana
variety or cause and extent OF the injuries ~
the public which may result rom iass1
bnations concentrating more OF ,h eSS nrevious
w TO the formation OF the combination were
carried separately. -. ,,t,otiors
II 10 universally conceded that combinations
htoh enoross or control the market or an!
particular kind Of merchandise or coi III,
necessary to the general community D! sup
nraocing natural and ordinary competition
Pbarahy nrices are unduly enhanced to the gen
eraI consumer, are obnoxious not 0hiy 10 une
comroon law but also 10 the pupHc "eILaie
There must be remedy FOR the eVlis iiin In
NJ ~ orga nizatton If the present law can DE
extended more certainly to conlroi Vi -
these monopoles or trusts, II shouio C Ie
without delay. Whatever power the Coi3 3,Dot
WIun o..a. over this most important subject
sh0nld he promptly ascertained and asserted
STEPS TAKEN AGAINST TRUSTS.
pros,dent Harrison in his annual message OF
December g. 1889. SAYS: - .
Earnest attention should be given BY C9nsr tbe
oostraint OF those combinations OF caPi'aai dc
monty called trusts is matter OF 70 crush
ont all healthy competition ana 10 mo rporne and
0Toduction or sale OF an article vi nonsniraces
asanst the public good ana should a5a pc dg s
subject Of prohbitory ana even ,narce against
A act 10 protect trade ana coniielC asal1
Hn auI restreints and monopOes was passed
III, Congress on July q 1890 The Provisions It
his statute are comprehensive ana i ,be
declares every contract or complhatIo.i;; 80 In
Io,no ~ trust or otherwise, or conspiracy ,t ~
~ restraint Of trace or commerce anloh l 49,, nv,
several states or with foreign natiohs |" Nv
- ,ofa a
law 'h makes anv such contract or engages III
any such COMPUTATION or consIira,cy ana prIt
tides a punishment by fine or imprlsot mn I,,a5
t,,,osts the several circuit courts OF lne
~ III inrisdiction to prevent ana reslIaII