The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-01-13
GOVERNOR SHAW'S INAUGURAL
Contains Queer PrOnOuneement on
the Subject OF Trusts.

Des Moines, Iowa, Janf II.-For the sec
ond time. Governor Shaw was innaug
urated as chief executive fthe state thi
afternoon. The oath OF office was pro
nounced by Chief Justice Justice Grange
of the supreme court, in the presence o
| 1900 people. The ceremony consisted Of {
| parade from the state house. headed b.
a troop of the National Guard, and exer
cises at the Auditorium, which concluded
with an address by Lieutenant Governor
Milliman. In his inaugural Governor
| Shaw said in part: Even in this mos
| remarkable century. ever-famous for it:
| growth and wealth and material prosper
ity, there is one industry that has failed
TO increase with the years. / refer 10 oul
| merchant marine At the beginning OF
| the nineteenth century we were carrying
| 80 per cent of our foreign commerce in
American ships. We now carry one-fifth
| or 20 per cent. Shall this continue? We
are in possession of the Pacific. Shall We
build the ships requisite to its enjoyment?
1t is as truly ours, if we have the courage
of our convictions. as are the islands that
rise above its surface. To build a mer-
chant marine will require both time and
the nations of Europe accord those with
which we must compete
1.-THE experience fthe war and navy
department of the government DUNG the
last two years justihes the hope that the
best shipyards in the world will find
steady home employment and that vessels
built to fly the American colors will be
accessible for all future ends.
accessible for all future demands.
THE United States is conceded to be
the great agricultural country of the
world and our manufacturers find few
rivals. There is no valid reason why we
may not also become the great CONNER
cial and financial centers. But in order
TO do this we must have as good money
as our European competitors. And what
characterizes good money? 1 answer, GER
tain and ready exchangeability. A due
bill will remain at par so long as its
maker maintains its exchangeability for
legal funds at par on demand; and it
will go to discount whenever exchange
ability fails. Silver Is as good as gold
only so long as 1t can be exchanged at
par for gold The principal objection
free coinage of silver is based on the fact
that exchangeability is in no manner pro-
vided for; and it is believed that left to
themselves, gold and silver coin will fiucu-
ate in value The government should, 1
think, maintain the exchangeability of all
its issues. Whoever has gold and prefers
silver should have the absolute right to
demand it in exchange. Whoever has sill
yer and prefers gold should have the
same privilege. The holder of greenbacks |
or treasury notes should have guaranteed |
to him the absolute right of exchange for |
any kind of money that will better suit |
his convenience. The first step in the d. |
rection of gold boarding is an apprehen- |
sion that in some way or by some means |
it will command a premium. There GER
tainly can be no better way TO safeguard |
the treasury than to guarantee exchange |
ability. 1 can see no increased danger by |
providing for the exchange of |
silver for gold and Of gold for silver, than
nheres in the proposition for the redemp-
ton of greenbacks and treasury notes in
gold. The proposition is logically correct
1t is reasonable and right. Such a pro-
vision would be notice to the commercial
world that every dollar of United States
money is the equivalent of. and that it
ean be exchanged for, 25.S grains of gold,
and would make draft on New York as
acceptable at the clearing house of the
world as one on London.
Il think those who contended at the
rust convention in Chicago last fall that
rusts and monopolies should be treated
IS synonymous terms were correct. I
nave yet to find the first man who has a
word to say in extenuaton or defense Of
Gentleman of the general
assembly, let it be your duty to crush
very one within your reach, and the
PEOPLE of this state will call you blessed,
ind the people of every other state will
AXE notice Of your wisdom and will fol-
Dw the course you shall have marked OUT.
( al 1.-The states Of the union could be in
uced to unite upon some single policy /
would have no fears Of successfully COM
'atting monopolies in this country. They
night be built up abroad. but they could
hen be effectually reached by means Of a
ariff Aggragations or combinations Of
apital do not necessarily constitute the
vii complained Of The may be. and !
re. dangerous. for they may, and fire.
uently do. accomplish great harm, but
hey are not harmful per Sc. The evil, as
discern it. consists in monopoly. l. ;
rusts are to exist anywhere l would pre-
er them in this country and would as
oon submit TO the domination Of steel I 1
all factories built and operating in Iowa :
5 where they are If you can devise {
1me way 70 bring uniform legislation 50 (
nat capital shall find no more welcome ]
.sewhere than here, it viii be my pleas ]
70 to cooperate with you. or, II you can ,
evise some statute which viii relieve our
eople from the domination If monopolies
ther az home or abroad l shall be glad ,
add my signature when the bill shall
2 presented for approval. Any legisla- !
on that viii bring widespread disaster !
ad ruin. will result IN the dissolution Of
-usts and combines, and viii scatter all
sgregation Of capital think II is gen
ust be treated by the national congress
.ther than by state legislatures.