The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1900-09-14

,ooo- DUDIIC ueDL OF IyUU over
1 ~ required by the war loan, was $685.
SUD- While congress authorized the gov
SddnnenI 10 make a war loan of $500 000,-
SvO at the beginning of the war with
SUED, bearing three per cent. interest,
Wnlch We're promptly and periodically
taken by our citizens.
unless something unforeseen occurs to
reduce our revenues or increase our ex-
penditures, the congress at its next ses-
rally.
Five years ago we were selling govern
ment bonds bearing as high as five per
cent. interest Now we are redeeming
thin with a bond at par bearing two per
cent interest. We are selling our sur
plus products and lending our surplus
money to Europe. One result of cur sell
ing TO other nations so much more than
we nave bought from t5em during the
past three years is a radical improve
ment of our financial relations. The great
amount of capital which has been Dor
roWed OF Europe for our rapid, mate
rial development have remained a con-
slant drain upon our resources for inter
est and dividend and made our money
markets liable to constant disturbances
Dy calls for payment or heavy sales of
our securities whenever money stringen-
c1eS or panic occurred abroad. We have
now been paying these debts and bring
ing home many of our securities and es-
tabliShing countervailing credits abroad
by our loans and placing ourselves upon
sure foundation of financial inGepend-
ence.
Regarding the BOeP War.
In the unfortunate contest between
Great Britain and the BOer states of
South Africa, the United States has main
tanned an attitude of neutrality in &C
policy. 1t did not hesitate, however,
when requested by the governments of
the South African republics, to exercise
its good offices for cessation of hostl-
tiles. 1t is to be observed that while the
South African republics made like re-
quest of other powers, the United States
was the only one which complied. The
British government declined to accept
the intervention of any power
Ninety-One per cent. of, our exports and
imports are now carried by foreign ships.
For ocean transportation we pay annual
ly to foreign ship owners over $165, 900, coo.
We ought to own the ships for our car
rying trade with the world, and we ought
to build them in American ship yards and
man them with American sailors. Our
own citizens should receive the tranSpor-
tation charges now paid to foreigners.
The Canal Question.
A subject of immediate Importance to
our country is the completion of a great
waterway of commerce between the At
lantic and acific The construction of
maritime canal is now more than ever
indispensable to that intimate and ready
communication between our eastern and
western seaports demanded by the annex
alton of the Hawaiian islands and the
expansion of our influence and trade in
the Pacific.
Our national policy more imperatively
than ever calls for its completion and
control by this government; and it is
believed that the next session of congress,
after receiving the full report of the COM
mission appointed under the act approved
March 3, 1899. will make provision for the
sure accomplishment of this great work.
Capital and Labor.
Combinations of capital which control
the market in commodities necessary to
the general use of the people, by sup
pressing natural and ordinary cOmpeti-
ton thus enhancing prices to the gen.
eraI consumer, are obnoxious to the COM
mon law and the public welfare. They
are dangerous cOnspiracies against the
public good and should be made the sub
ject Of prohibitory or penal legislation.
PrhlicitV will he a helnfuI inf1nence to
check this evil Uniformity of legislation
in the several states should be secured.
DISCRIMINATION between what is injurious
and what Is useful and necessary in bust
ness operations is essential to the wise
and effective treatment of this subject.
Honest cooperation of capital is necessary
to meet new business conditions and eX-
tend our rapidly increasing foreign trade,
but conSDiracieS and combinations in
tended to restrict business. create mo-
nOpOlieS and control prices should DE
effectively restrained.
The best service which can be rendered
to labor is to afford it an opportunity for
steady and remunerative employment, and
give it every encouragement for advance
ment. The policy which subSerVes this end
is the true American policy. The past
three years have been more satisfactory to
American wOrkingmen than many preced-
ing years. Any change of the present in
dustrial or financial policy of the govern
ment would be disastrous to their highest
interests. With prosperity at home and
an increasing foreign market for Amer
lean products, employment should con-
tnue TO wait upon labor, and with the
present gold standard the wOrkirgman is
secured against payments for his labor in
a deprecated currency; For labor, short
day is better than a short dollar; one will
Tighten the burdens; the other lessen the
rewards of toll. The one will promote CON
tentment and independence; the other pen
ury and want. The wages of labor should
be adequate to keep the home in comfort,
educate the children and with thrift and
economy, lay something up for the days
of infirmity and old age
Practical civil service reform has al
ways had the support and encouragement
of the republican party. The future of the
merit system is safe in its hands.
The merit system, as far as practicable
is made the basis Off appointments to Office
in our new territory.
The Army and Navy.
The American people are profoundly
grateful to the soldiers, sailors and ma
rines who have in every time of conflict
fought their cOuntry's battles and defended
its honor. The survivors and the wild
ows and orphans of those who have fallen
are justly entitled to receive the generous
and considerable care of the nation.
Referring to what has been accomplished
in Cuba, the president says a long step
has been taken in the fulfillment of the
sacred guarantees to the people of the is
land
Notwithstanding the many embarrass-
ments incident to a change of national con-
ditions, Porto Rico is rapidly showing the
good effects of her new relations to this
nation.
The Philippine Question.
The power of the government has been
used for the liberty, the peace and the
prosperity of the Philippine people, and
force has been employed only against force
which stood in the way of the realization
of these ends.
After reciting the events of Importance
leading up to the present situation, to Z
show what has been done and is being
done to bring the benefits of liberty and
good government to these wards of the
nation" the letter continues:
Every effort has been directed to their
peace and prosperity, their advancement
and well-being, not for our aggrandiZe-
ment nor for pride of might, not for trade
or commerce, not for exploitation, but for
humanity and civilization; and for the
protection of the vast majority of the
population who welcome our sovereignty
against the designing minority whose first
demand after the surrender of Manila by
the Spanish army was to enter the city
that they might loot it and destroy those
not in sympathy with their selfish and