The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-09-10
To II etluce Taxation.


Unless something unforeseen occurs
to reduce our revenues or increase
our expenditures, the congress at its
next session should reduce taxation
very materially.
Five years ago we were selling gov
eminent bonds bearing as high as 5
per cent interest. Now we are redeem
ing them with gold at par bearing 2
per cent. interest We are selling our
surplus products and lending our sur
plus money to Europe. One result of
our selling to other nations so much
more than we have bought, from them
during the past three years is a radical
improvement of our financial relations.
The great amounts of capital which
have been borrowed of Europe for our
rapid, material development have re-
manned constant drain upon our re-
sources for interest and dividends and
made our money markets liable to con-
slant disturbances by calls for payment
or heavy sales of our securities when
ever moneyed stringency or panic oc-
CURED abroad. We have now been pay
ing these debts and bringing home many
of our securities and establishing coun-
tervailing credits abroad by our loans
and placing ourselves upon sure
foundation of financial independence
Attitude Toward Boer War.
In the unfortunate contest between
Great Britain and the Boer states of
South Africa, the United states has
maintained an attitude of neutrality in
accordance with it's well known tradi-
tional policy 1t did not hesitate how
ever, when requested by the govern
ments of the South African republics,
to exercise its good offices for the cessa-
ton OF hostilities. It is to be observed
that while the South African republics
made like request Of other powers the
United States is the only one which
compiled. The British government de-
clined to accept the intervention Of any
power.
Ninety-one Der cent, of our exports
and imports are now carried in foreign
ships. For ocean transportation we pay
annually to foreign ship owners over
$165 100000 We ought to own the ships |
for our carrying trade with the world |
and we ought to build them in Ameri-
can ship yards and man them with
American sailors. (Here the president
reiterates his views expressed in his |
messages of December 5, 1899
Importance of Inter-Oceanic Canal.
A subject of immediate Importance
to our country is the completion of a
great waterway of commerce between |
the Atlantic and Pacific. The con-
co, 20 ie
more than ever indispensable to that
intimate and ready communication be-
tween our eastern and western seaports |
demanded by the expansion of our in |
fiuence and trade in the Pacific. Our |
national policy more imperatively than |
ever calls for it's completion and con-
troll by this government; and it is be- |
lieved that the next session Of con- |
grees, after receiving the full report of |
the commission appointed under the act |
approved March 3, 1899, will make pro-
visions for the sure accomplishment of |
this great work.
Trusts Denounced.
Combinations of capital which con-
troll the market in commodities neces-
sary to the general use of the people,
Dy SuppreSSlnS natural ana ordinary
competition, thus enhancing prices, to
the general consumer are obnoxious to
the common law and the public well
fare. They are dangerous conspiracies
against the public good and should be
made the subject of prohibitory or
penal legisla zion Publicity will be a
helrful influence to check this evil.
of Legislation in the several
states should be secured. Discrimina-
ton between what is injurious and
what is useful and necessary in bust
ness operate is essential to the wise
and effective treatment of this sub
iect. Honest cooperation of capital is
necessary to meet new business and ex-
tend our rapidly increasing foreign
trade, but conspiracies and combina-
tons intended to restrict business. Gre
ate monopolies and control prices
should be effectively restrained.
The best service which can be rem
1ered to labor is to afford it an oppor-
tunity for steady and remunerative
and give it every encour-
agement for advancement. The policy
that subserves this end is the true