The Owosso times. (Owosso, Mich.) 1897-1926, 1900-09-14

| authorized the government to make a
| war loan of $400, 100000 at the begin
ming of the war with Spain, only $780,
100000 of bonds were issued, bearing
per cent. interest, which were prompt
| ly and periodically taken by our citi-
| Zens.
UNLESS something unforeseen oc-
| ours to reduce our revenues or In
crease our expenditures, the congress
at itsenext session should reduce taxa
tiou very materially. Five years ago
we were selling government bonds
bearing as high as 8 per cent. inter-
est. Now we are redeeming them with
bond at par bearing per cent IN
terest. We are selling our surplus
products and lending our surplus mon-
ey to Europe. One result OF our SELL
ing to other nations so much more
than we have bought from them dur
ing the past three years is radical
improvement of our financial relations.
TRANSPORTATION OF OUR EXPORTS
should BE Done by Our Own Ships-CanaI
Across the Isthmus.
"Ninety-one per cent. of our exports
and imports are now carried by for
eign ships. For ocean transportation
we pay annually to foreign shipown-
ers over S165, 100000. We ought to
own the ships for our carrying trade
with the world and we ought to build
them in American shipyards and man
them with American sailors. Our own
citizens should receive the transporta-
ton charges now paid to foreigners.
have called the attention of congress
to this subject in my several annual
messages. In that Of Dec. d, 1897,
said: Most desirable from every
standpoint Of national interest and pa
triotism is the effort to extend our for
eign commerce. TO this end our mer-
chant marine should be improved and
enlarged. We should do our full share
of the carrying trade of the world. We
do not do it now. We should be the
laggard no longer
In my message OF Dec. 3, 1899,
said: Our national development will
be one-sided and unsatisfactory so long
as the remarkable growth of our in
land industries remains unaccompa-
MED by progress on the seas. There
Is no lack of constitutional authority
for legislation which shall give to the
country maritime strength common
surate with it's industrial achieve
nations of the earth. The past year
has recorded exceptional activity in
our shipyards, and the promises of
continual prosperity in ship building
are abundant. Advanced legislation
for the protection of our sea-
men has been enacted. Our coast
trade, under regulations wisely
framed at the beginning of the gov
eminent and since, shows results for
the past fiscal year unequaled in our
records or those of any other power.
We shall fail to realize our opportuni-
ties, however, If we cOmplacently re-
gard only matters at home and blind
ourselves to the necessity Of securing
our share in the valuable carrying
trade Of the world l now reiterate
these views.
"A subject of immediate Importance
to our country Is the completion Of a
great waterway Of commerce between
the Atlantic and Pacific. The con-
struction Of maritime canal is now
more than ever Indispensable to that
intimate and ready communication be-
tween our eastern and western sea-
ports demanded by the annexation of
the Hawaiian islands and the expan-
sion of our influence and trade in the
Pacific. Our national policy more i'm
peratively than ever calls for it's COM
pletion and control by this govern
ment: and it is believed that the next
session Of congress. after receiving the
full report of the commission appoint
ed under the act approved March 3,
1899, will make provision for the sure
accomplishment Of this great work.
CONGRATULATIONS ON TRUSTS
With Remarks of Interest to Laboring Men
Civil Services Reform.
combinations of capital which con-
troll the market in commodities neces-
sary to the general use Of the people,
by suppressing natural and ordinary
competition, thus enhancing prices to
the general consumer, are obnoxious
to the common law and the public well
fare. They are dangerous conspira-
cfes against the public good and shoYld
be made the subject of prohibitory or
penal legislation. Publicity will be a
helpful influence to check this evil.
Uniformity Of legislation in the several
states should he secured. Discrimina-
ton between what Is Injurious and
what Is useful and necessary in bust
ness operations Is essential to the wise
aud effective treatment Of this sub
ject. 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
ness. create monopolies and control
prices should be effectively restrained.
''The best service which can be rem
dered to labor is to afford IL an OBJ
portunity for steady and remunerative
employment, and give It every encour-
agement for advancement. The policy
which subserves this end Is the true
American policy. The past three years
have been more satisfactory to Ameri-
can workingmen than many preceding
years. Any change of the present In
dustrlal or financial policy of the gov
err ment would be disastrous to their
highest interests. With prosperity at
home and increasing foreign market
for American products, employment
Should continue to wait upon labor,
and with the present gold standard
the workingman Is secured against
payment for his labor in deprecated
currency. For labor, n short day Is
better than short dollar: one will
Tighten the burdens. the other lessen
the rewards, of toll. The one will pro-
mote contentmc-t end indenendence: