Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1901-12-06

tions and JOINT stock or other associa
tons, depending upon the statutor,
law for their existence or privileges
should be subject to proper govern
mental supervision. and full and &C
curate information as to their opera
lions should be made public regularly
at reasonable intervals.
The large corporations, commonly
called trusts. though organized in on,
State, always do business in man,
States, often doing very little business
IN the State where they are incorporate
ed. There is utter lack of uniformit,
In the State laws about them; and az
no State has any exclusive interest in
or power over their acts, it has in pra G.
tlce proved impossible to get ADEQUATE
regulation through State action,
Therefore. in the interest of the whole
people, the Nation should. without in
Cerferlng with the power of the States
In the matter itself, also assume now
er OF supervision and regulation over
all corporations doing an interstate
business. This is especially true where
the corporation derives portion of it's
wealth from the existence of some
mo lopollStic element or tendency in
It's business. There would be no hard
ship in such supervision: banks are
subject to it, and in their case it ia
now accepted as simple matter of
course. Indeed, it is probable that
supervision OF corporations by the Ne
blohal government need not go so far
as Is now the Case with the supervision
exercised over them by SO conserava
tive State as Massachusetts,, in or
der to produce excellent results.
On the tariff the message is emphatic.
declaring there is general AGO uiesence
IN the present system.
Nothing" says the President.
could be more unwise than to disturb
the business interests of the country
Dy any general tariff change at this
time. Doubt, apprehension, uncertain
ty are exactly what we most wish to
avoid In the interest of our CONNER
clal and material we'll being. Our ex-
perlence In the past has shown that
sweeping revlsiOns of the tariff are apt
to produce conditions closely approach
Ing panic IN the business world. Yet
II is not only possible but eminently
desirable, TO combine with the stabili.
" OF our economic system a supple
system of reciprocal benefit
ana oblgation with other nations. Such
reciprocity Is an incident and result of
the firm establishment and preserya.
tlon OF our present economic policy.
1t was specially provided for in the
present tariff law.
reciprocity most be treated as the
nandmalden of protection. Our first
duty is to see that the protection grant,
ed by the tariff every case where it
ls needed is maintained, and that reci-
Dr0clty be sought for so far as it can
safely be done without injury to our
home industries. Just how far this Is
most be determined according to the
Individual case, remembering always
mat every application of our tariff
ooEcy TO meet our shifting national
leeds must be conditioned upon the
cardinal fact that the duties must new
II be reduced below the point that will
'0yer the difference between the labor
'0st here and abroad. The we'll being
Il the wage worker is a prime consid- |
ration OF our entire policy of econo-
mic legislation.
Subject to this proviso of the prop
OSOoASh hOOCoodIy W
rial well-being at home, the principle
1 reciprocity must command our Hearty |
Import. The phenomenal growth of |
ur export trade emphasizes the urgen-
y OF the peed for wider markets and
or a liberal policy in dealing with
orelgn nations. Whatever is merely
city and vexatious in the way of trade
estrlctions should be avoided. The
ustomers to whom we dispose of our
lrplus products in the long run, di-
ectly or indirectly. purchase those
lrplus products by giving US some
ling in return. Their ability to pur.
lase our products should as far as
osslble be secured by SO arranging our
lrlH as to enable us to take from them
lose products which we can use with
1T harm to our own Industries and
Dor, or the use of which will be of
arked benefit to u.s.
The President closes this subject by
to Congress the consid-
alton OF the reciprocity treaties of
is predecessor.