Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-10-16

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from the deprecations of burglars, ROB
lbers and hold-ups since 1894.
+. w. Hayes, chairman, presented
the report of the committee on taxation
of express companies. The committee
stated they We're unable to report any
substantial progress as the result OF IT'S
efforts to compel the express COM
panies and their numerous agencies
| to pay license tax for the privilege
of conducting banking and broker-
age business. The principal object IN
/ the way has been the opinion OF the
attorney general. holding that the ex-;
press companies are not transactlns
either a banking or a brokerage busi-
ness within the meaning of the war
revenue law. The committee recon-
mended action with the view of arrang-
ing for suit to be brought which may.
| lie necessary, be carried to the supreme
court, of the United States. If the
courts" it was stated, Should hold that
the express companies were not subject
to the tax under the existing laws, 1t
will then be in order for this association
to promote such legislation as will COM
pei all persons and corporations who
are engaged in what is clearly a bank
ing business. to pay the tax imposed
upon bankers. even tho they may, at
the same time, be ostensibly carrying
on some other business"
At the continuation OF the reading of
the reports several reports We're read
and referred to the executive council,
among which are:
Asking congress to re-establish the
charters of 1900 banks which will ex-
pire next year.
Asking congress to legislate for the
return of checks on which revenue
stamps have been cancelled was re-
ferred to the executive council.
Requesting the secretary of the treas
ury to change the contract now exist
ing between itself and companies, in
such maner as owners of unsigned
certificates shall be Unidentified in case
such certificates are lost in transit.
Requesting congress to repeal para
graph one, section two of the war rev.
special tax on capital and surplus of
banks, also other forms of certificates.
BY unanimous consent a resolution
relating to the punishment OF anarch-
lists presented by James A. Wilcox, of
Pittsburg, was adopted. The resolu-
ton recites that there exists an imper-
Iative necessity for the enncting Of laws
by congress to punish assassins and for
the suppression OF anarchy by provid-
ing:
First-Capital punishment for those
convicted of murder or attempted mur-
der Of officers in high public positions,
Second-Adequate punishment by
imprisonment of all parties counselling
violence to those IN authority.
Third-Laws to prevent anarchists
from entering into this country.
Fourth-That we urge upon congress
and the state legislatures action to:
keep our land free from the charge of
fostering conspiracies against foreign
lands.
Secretary Branch. thru the executive
council. was authorized to send a mes
sage of greeting to President Roose-.
velt.
President Trowbridge appointed
Messrs. Kaufman, Herrick, Whiting
and Mulvaine committee to prepare
ia memorial on the late President Nc.
Kinley.
Gage to Bankers.
milwaukee,. Oct. 16.-Secretary OF the
Treasury Gage. who was to have spoken
before the bankers convention here to-
morrow, was in the city today and being
desirous OF leaving the city tonight he
was given place on the program this
efternoon His address was to have
been the principal one of the convention
and was looked forward to with great
deal OF interest among the bankers.
Mr.. Gage expressed the opinion that
there is too close an intimacy between
the governments finance and our COM
mercial affairs" but he added that "it is
a comfort and satisfaction to note that
at the present moment the injurious eff
feet of such intimacy appears to be at a
minimum" The speaker urged that the
present is most proportions time for
enacting reasonable reforms In the cur
rency and banking laws.
"In every country" said Mr.. Gage.
"there is q more or less intimate relation
between government finances-debt anc
taxation-and the general commercial or
Industrial affairs of such country. In
our own country that intimacy has been
and is injurIously close. Memory readily
recalls those periods when our whole
financial and Industrial progress has
heen seriously checked while great ques-
tions relating to the condition of the
treasury or the standard of money have
awaited decision. While under our sys-
TEN the people constitute the govern
ment, vet in it's organization the govern
n.ent is legal entity, separate. distinct.
impersonal. Within Its proper sphere of
action 1t is supreme, but it can not tran
scend these limits without harm to it,
self and injury to the people. In other
words there are laws superior to the
government laws which 1t can not defy
and escape penalty. They are not writ
ten laws, but they are discoverable.
these higher economic laws, which have
O. way of self-operation, blessing the
obedient and banning the violator. OF
these all men and all governments
should be afraid, and to their mandates
respect should be shown"
Mr.. Gage, by way OF illustration, re-
peated the substance of a conversation
he had had with the financial minister
of South American republic, whose
government encouraged banking facil-
Itties by depositing its surplus funds sub
Iject TO call, with eight banks. all OF
which have branches. These banks are
permitted to issue notes to circulate as
money, limited, however. in amount by
their relations to capital. and by the
percentage of specie which they are re-
lquired to carry against notes issued.
Asked why his government did not
make the banks secure their notes by
pledging government bonds, thus en-
llarging the market for government Sc