Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1899-12-07

Dnce the best means to meet the
emergency when it 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 al
ready eliminated one of the causes of
our financial plight and embarrassment
during the years 1893, 1894, 1895 and
1896. Our receipts now equal our ex-
penditures; deficient revenues no
longer create alarm. Let us remove
the only remaining causes by confer
ring the full and necessary power on
the secretary of the treasury and inn
pose upon him the duty to uphold the
present gold standard, and preserve
the coins of the two metals on
parity with each other, which is the
repeatedly declared policy of the Uni
ted States.
In this connection | repeat my for
mer recommendations that portion of
the gold holdings shall be placed in a
trust fund from which greenbacks
shall be redeemed upon presentation,
but when once redeemed shall not
thereafter be paid out except for gold.
Value of n Merchant Marine.
The value of an American merchant
marine to the extension of our COM
mercial trade and the strengthening
of our power upon the sea invites the
immediate action of the congress. Our
national development will be one
sided and unsatisfactory so long as the
remarkable growth of our inland in
dustries remains unaccompanied by
progress on the seas. There is no
lack of constitutional authority for
legislation which shall give to the
country maritime strength commen-
surate with its industrial achievements
and with its rank among the nations
of the earth. The past year has re-
corded exceptional activity in our ship
yards, and the promises of continual
prosperity in shipbuilding are abund-
ant. Advanced legislation for the pro-
lection of our seamen has been en-
acted Our coast trade, under regula-
tions wisely framed at the beginning
of the government and since, shows re-
suits for the past fiscal year unequal
ed in our records of those of any other
power. We shall fail to realize our
opportunities, however, if we COM
PLEASANTLY regard only matters at
home and blind ourselves to the neces-
sity of securing our share in the val
liable carrying trade of the world.
A Chapter on Trusts.
Combinations of capital organized
into trusts to control the conditions of
trade among our citizens, to stifie COM
petition, limit production and deter
mine the prices of products used and
consumed by the people are justly
provoking public discussion, and
should early claim the attention Of
the congress.
The industrial commission, created
by the act of the congress of June 18,
1898, has been engaged in extended
hearings upon the disputed questions
involved in the subject of combina-
tions in restraint of trade and COM
petition. They have not yet completed
their investigation of this subject, and
the conclusions and recommendations
at which they may arrive are unde-
termined.
It Is universally conceded that COM
binations which engross or control the
market Of any particular kind of mer-
chandise or commodity necessary to
the general community by suppress
ing natural and ordinary competition,
whereby prices are unduly 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 evolved in such
organizations. If the present law can
be extended more certainly to con-
troll or check these monopolies or
trusts it should be done without delay
Whatever power the congress pos
sesses over this most important sub
Ject should be promptly ascertained
and asserted
President Harrison's message of
Dec. 8, 1889, is then quoted, and Presi-
dent Mckinley proceeds:
An act to protect trade and COM
merce against unlawful restraints and
monopolies was passed by congress on
the I'd Of July, 1890 The provisions
of this statute are comprehensive and
stringent. 1t declares every contract
or combination, in the form of trust
or otherwise. of conspiracy in the re-
straint of trade or commerce among
the several states or with foreign ma
tions to be unlawful. It denominates
as criminal every person who makes
any such contract or engages in any
provides a punishment by fine or i'm
prisonment. 1t further confers upon
any person who shall be injured in his
business or property by any other per-
son or corporation by reason of any
thing forbidden or declared to be un-
lawful by the act the power to sue
therefor in any circuit court of the
United States without respect to the
amount in controversy, and to recover
threefold the DAMAGES by him sus-
tanned and the costs of the suit, includ-
ing reasonable attorney fees. 1t will
be perceived that the act is aimed at
every kind of combination in the ma
ture of trust or monopoly in re-
straint of interstate or international
commerce.
The chapter on trusts closes with a
quotation from the message of Pres
ident Cleveland of Dec. 7, 1896, declar-
ing the laws passed for their suppress
sion Ineffective President Mckinley
then urges uniformity Of legislation on
the part of the several states. The
message proceeds:
Our Foreign Relations.
A review of our relations with for
eign states is presented with such rec
concentrations as are deemed appropri-
ate.
The long pending boundary dispute
between the Argentine Republic and
Chile was settled in March last by the
award of an arbitral commission. on
which the United States minister at
Buenos Ayres served as umpire
Progress has been made toward the
conclusion of convention of extradi-
tion with the Argentine Republic. Hay-
ing been advised and consented to by
the United States senate and ratified by
Argentina, it only awaits the adjust
ment of some slight changes in the
text before exchange.
1t is gratifying to be able to an
nounce that the Belgian government
has mitigated the restrictions on the
importation OF cattle from the United
States, to which l referred in my last
annual message
Having been invited by Belgium to
participate in a congress held at Brus-
sells to revise the provisions of the gem
eral act of July 2, $780, for the repres
zion of the African slave trade, to
which the United States was a sigma
tory party, this government preferred
not to be represented by a plenipoten-
| tiar.v hlIt rcSaryad the right of Access