The Holly chieftain., 1901-12-06

icy to meet oar shifting national needs must
dutiss must never @ b IN reduced below the point
labor cost here aud abroad The v.li-beins
Of our entire policy of economic legislation.
Subject to this proviso Of the proper pro-
faction necessary to our industrial well-oeint
command our hearty support The pheno-
msnai Growth Of our export trade emphasizes
and for liberal policy in deaiins with for:
vsxs.iops in the way Of trade restrictions
We dispose of our surplus products in the
long run. directly or Indirectly. purchase
ss.s ;1Ps ;s By s us
our products should As far Al possible BE-
secured By 50 arranging our tariff as 70 en-
which We can use without harm to our own
Industries and labor, or the use Of which will
Be Of Of marked benent to US
aevelopment OF our interests where We arc
not only able TO supply our own markets
for which we must nnd markets abroad To
secure these markets We can utilize existing
duties in any case where they are NO longer
case where the article 10 NOT produced here
and the duty is no longer necessary for
revenue .s giving US .opsth!nE e etisr in
lations with other nations which are 20 de-
srable will naturally b. promoted b the
nss rsrurd ns cs
policy of reciprocity will be in connection
with those OF our productions which no long
er require all of the support once needed
to establish them upon a sound basis. and
with those others where either because of
natural or Of economic causes we are beyond
the reach of successful competition.
Il ask the attention of the Senate to the
reciprocity treaties laid before it by my pre-
decessor.
Our Merchant Marine.
The condition of the American merchant
marine is such as to call for immediate
creditable TO us as Nation that our mcr-
chant marine should be utterly insignificant
In comparison to that OF other nations which
we overtop in other forms of business
American shipping is under certain great
disadvantages when put in competition with
the shipping of foreign countries. Many of
the fast foreign steamships at a speed OF
fourteen knots or above. subsidized: and
al our ships. sailing vessels and steamers
carriers of high speed have to meet the
fact that the original cost of building Ameri-
can ships is greater than is the case abroad:
that the wages paid American officers and
seamen are vfry much higher than those paid
the ofncers and seamen OF foreign competing
countries: and that the standard of living
on our ships is far superior to the standard Of
living on the ships Of our commercial rivals.
Our government should take such action
As VIII remedy these inequalities. The Amer
ican merchant marine should be restored to
the ocean.
ine Act OF March II. 1900, intended un-
eqnivocaily to establish gold as the standard
money and to maintain at a parity Herewith
All forms Of money medium In use with US,
has has been shown to be timely and judIcious.
The price OF our government bonds in the
worlds market. when compared with the
price OF similar ooitsations issued by other
nauons Is hattering tribute to our public
credit. This. condition it is eminently deair-
able to maintain.
I'm many respects the National Banking
Law furnishes suhcient liberty for the proper
exercise OF the banking function but there
seems to be need Of better safeguards aEainst
the dasran1ins inauence Of commercial crises
to the demands Of our domestic trade and
commerce.
Reduction OF Revenues.
The collections from duties on imports and
internal taxes continue to exceed the ordl-
nary expenditures. The utmost care should
be taken not to reduce the revenues 80 that
thre will be any possibility of . dencit: but.
after providing against any such contingency.
means should be adopted which will bring the
revenues more nearly within the limit Of our
actual needs.
II call special attention to the need Of strict
economy in expenditures. The fact that our
national needs forbid us to be niggardly in
our well-beinE. should make US doubly care
full to husband our national resources. as
each Of Us husbands his private resources. by
scrupulous avoidance Of anything like waste
full or reckless expenditure.
Regulation of Railroads.
In 1851 a measure was enacted for the reg
ulation Of interstate railways. commonly
known - the Interstate Commerce Act The
cardinal provision. Of that act were that
and that all shippers localities. and commo-
dities should be accorded equal Treatment. A
commission was created and endowed with
what were supposed to be the necessary pow
ers to execute the provisions of this act.
That law was largely an experiment. Ex-
perience has shown the wisdom of Its pur-
poses. but has also shown. possibly that some
Of its requirements are wrong. certainly that
the means devised for the enforcement Of its
provisions are defective.
The act should be amended. The railway
Is public servant. Its rates should be Just
to and open to all shippers alike. The gov
ernment should see to It that within its juris-
diction this is SO and should provide a speedy.
Inexpensive and effective remedy to that end
our railways are the arteries through which
the commercial lifeblood Of this nation flows.
Nothing could be more foolish than the en-
actment of .egfslatton which would unneces-
sarily interfere with the development and
operation Of these commercial agencies The
subject 10 one Of great Importance and calls
for the earnest attention Of the Congress.
The message points out the value of the
American forests and the necessity for their
conservation, and urges the construction and
maintenance of reservoirs and irrigating
systems for che reclamation Of the arid lands
OF - the West: st.. OF the water rights i says:
which should be recognised IL that Of use. In
irrigation this right should attach to the
land reclaimed and be inseparable therefrom.
Granting perpetual water rights to others
than users, without compensation to tho
public, IL open to all the objections which
apply to giving away perpstual franchises to
the public utilities of cities. A few Of the
Western states have already recognized this
and have Incorporated In their constitutions
the doctrine of perpetual state ownership Of
water