Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1902-12-11
R1e5Ide0E Ko0<eNeZZ.

the ti1ler of the soil, should be treated as
an essential in shaping our whole econom-
| ic policy. There must never be any
/ change which will jeopardize the standard
of comfort, the standard of wages of the
American wage-worker.
Reciprocity Treaties.
One way in which the readjustment
sought can be reached is by reciprocity
treaties. They can be used to widen our
markets and to give a greater field for the
activities of our producers on the one
hand, and on the other hand to secure in
practical shape the lowering of duties
when they are no longer needed for pro-
lection among our own people, or when
the minimum of damage done may be dis
regarded for the sake of the maximum of
good accomplished. If it prove impoSSi-
BILE to ratify the pending treaties, and if
there seem to be no warrant for the en-
deavor to execute others, or to amend
the pending treaties so that they can be
ratified then the same end-to secure
reciprocity-should be met by direct leg
iSlation.
Recommends Tariff Commission
Whatever the tariff conditions are such
that needed change can not with advan-
tage be made by the application of the
reciprocity idea, then it can be made out
product. If possible, such change should
be MADE only after the fullest considera-
ton by practical experts, who should ap-
proach the subject from a business stand
point, having in view both the particuH
interests affected and the CONNER
well-being of the people as whole Ina
machinery for providing such careful in
vestigation can readily be supplied. The
machinery for providing such careful in
vestigation can readily be supplied. The
az i've 6AT0o TfT hos oil n OF ite,
disposal methods of collecting facts and
figures; and if the congress desires addi-
tonal consideration to that which will be
given the subject by its own committees,
then a commission of business experts can
be appointed whose duty it should be to
recommend action by the congress after
a deliberate an dScientific examination of
the various schedules they are affected
by the changed and changing conditions.
The unhurried and unbiased report of
this commission would show what changes
should be made in the various schedules,
and how far these changes could go with
out also changing the great prosperity
, which this country is now enjoying, or
upSetting its fixed economic policy.
The cases in which the tariff can pro-
duce monopoly are so few to con-
stitute an inconsiderable factor in the
question; but of course If in any case it
be found that a given rate of duty does
promote a monopoly which works i'll, no
protectionist would object to such reduc-
ton of the duty as would equalize COM
petition.
In my judgment, the tariff on anthra-
cite coal should be removed, and anthra-
cite put actually, where it now is noni-
nally, on the free list. This would have
no effect at all save in crises: but in
crises it might be of service to the people
Interest rates are a potent factor in
business activity, and in order that these
rates may be eQualiZed to meet the vary
ing needs of the seasons and of widely
"a cd IY1ifi nd IN yoTaf
the recurrence of financial stringencies
which injuriously affect legitimate bust
ness, it is necessary that there should be
an element of elasticity in our monetary
system. Banks are the natural servants
| of commerce, and upon them should be
| placed, as far practicable, the burden
| of furnishing and maintaining a circula-
| ton adequate to supply the needs of our
/ diversified industries and of our domestic
| and foreign commerce; and the issue of
this should be so regulated that suffi-
! cient supply should be always available
for the business interests of the country.
Financial Legislation.
1t would be both unwise and unneces-
sary at this time to attempt to recon-
struct our financial system, which has
! been the growth of a century; but some
additional legislation is, I think, desira-
BILE. The mere outline of any plan suff-
GENTLY comprehensive to meet these re-
Qu1rementS would tranSgreSS the apDrOpri-
| ate limits of this connmunica ton. 1t is
suggested, however. that all future legis-
| lation the subject should be with the
| view of encouraging the use of such in
| StrumentalitieS as will automatically SUD-
ply every legitimate demand of productive
| industries and of commerce, not only in
| the character of circulation; and of max
! ing all kinds of money interchangeable,
and, at the will of the holder, converti-
Bile into the established gold standard
again call your attention to the need
| of passing a proper immigration law,
! covering the points outlined in my mes
sage to you at the first session of the
| present congress; substantially such a bill
has already passed the house
| How to secure fair treatment alike for
| labor and for capital, how to hold in
check the unscrupulous man, whether en-
| ployer or employee, without weakening
individual initiative, without hamperine
and cramping the industrial development
of the country, is a problem fraught with
great difficulties and one which it is of the
highest Importance to solve on lines OF
sanity and far-sighted common sense as
well as Of devotion to the right This Is
an era of federation and combination Ex.
actly as business men find they must otter
work through corporations, and as 1t is
a constant tendency Of these corporations
to grow larger, so 1t is often necessary fol
| laboring men to work in declarations anf
these have become important factors OF
modern industrial life. Both kinds OF
federation, capitalistic and labor, can dc
SOOOs anu DIS q necessary cOSOllary
they can both do evil. Opposition to eacf
kind Of organization should take the form
Of opposition to whatever is bad in tn,
conduct of any given corporation or unior
mot Of attacks upon corporations as sucf
nor upon unions as such; for some of tn.
most far-reaching beneficient work fol
our people has been accomplished through
both corporations and unions. Each mus
refrain from arbitrary or tyrannous inter
| ference with the rights of others. Organ
lied capital and organized labor aIflx
should remember that in the long run TIL
interest of each must be brought into har