The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-09-19
Csan Francisco Examiner.)

CSa-n FRANCISCO Examiner-)
President McKinIey's new volume.
humorously called a ssletter of accept
ance," contains supplies of Democratic
campaign material not easily ex-
haustsd- We commented upon it in
general terms on its first appearance.
but as yet only the surface of the vein
has been touched.
Mr. Mckinley ventures to cite as a
Republican claim to public confidence
the refunding provision of the new
currency law, which was designed to
perpetuate the national debt for the
pront OF the national banks. He an
nounces with pride that more than one
third OF the outstanding bonds had
been refunded in the first three months
after the passage of the act, and that
Dy Se-l. the amount had increased
ing OF over $S,379 52O''
The truth IS that this met saving"
was an actual loss of nearly $50, 600, coo,
which has been presented as a clear
GIT 10 the holders of the bonds The
government has not only made this
present to the national banks, but it
has cut itself off from the privilege of
making any substantial reduction in
It's debt within the next seven years,
and has fastened a large part of the
49, N--'O1A It's AlCCh 1OI lLlllE y
The only bonds now redeemable before
1907 are about $4,000 600 of per cents,
which could be taken " with six
months surplus revenues. The coun-
advantage of becoming a nation out of
debt.
Congress failed to carry through the
ship subsidy steal. The president en-
phatically urges the completion of that
u
Mr.. McKinley's letter advocates the
construction of the Nicaragua canal,
and expresses the belief that the next
session OF congress will make provision
FOR this work. But nothing is said
about the sort of canal we are to have.
BY a singular oversight the Hay-Paun-
cefote treaty Is not mentioned. We
may be sure that if Mr. Mckinley is
reelected, the only kind of canal he
Will permit US to have will be one com
manded by British guns and open to
any hostile fleet that nay desire to
lombard our cities That is the sort
of thing the Hay-Pauncefote treaty
contemplates, and that treaty is one of
the chief glories of Republican
diplomacy.
On trusts, the subject that ranks next
to Imperialism in Importance and inter
est, Mr.. Mckinley is edifyingly unctu-
Gus.
Conditions Of capital he observes,
/ which control the market in commo-
dities necessary to the general use Of
the people, by suppreSsing natural and
ordinary competition, thus enhancing
| prices to the general consumer, are OBJ
| noXiouS 20 the common law and the
| public welfare. They are dangerous
| conSpiracieS against the public good
and should be made the subject of pro-
| nibitory or penal legislation. Publicity
will be q helpful influence to correct
| this evil. Uniformity of legislation in
| the several states should be secured.
! Discrimination between what is injuri-
| Gus and what is useful and necessary
! in business operations Is essential to
| the wise and effective treatment of this
| subject. Honest cooperation of capital
| is necessary to meet new business con-
| ditionS and extend our rapidly increas-
| ing foreign trade. but conspiracies and
| combinations intended TO restrict bust
1 ness, create monODolies and control
prices should be effectively restrained
| q g @
! That is the extent of the presidential
! recommendations about trusts Look
at them in detail and you will have a
fair measure of Republican statesman
ship: sf
/. Oppressive combinations of capita
/ are obnoxious to the common law and
the public welfare. and should bt