Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1902-09-05

Commemorative Power to Control the Trusts
The Issue, Autocracy or Trusts-Cause Of
Panic Of iS93-The Effect Of the Mckinley
and the Wilson Tariff Schedules on 1.-THE
Railway Presidents Called Into Line by the
SOP.
tFrom our regular correspondent
WASHINGTON, Aug. %, 1902.
"Who coached the President?" is
the question which leading Democrats
are asking each other this week. No
one gives Mr.. Roosevelt credit for the
exceptionally able politics which he
has displayed in his speeches in New
England and all are wondering who is
the power behind the throne. The
extent to which the public will be
taken in by the specious arguments
advanced is another matter Of inter-
est. Viewed from the standpoint of
the politician, Mr.. Roosevelt's scheme
for Federal control of the trusts is Q
mastery conception. In the first
place, it is pointed out, nothing
along that line can be done without
an amendment to the constitution and
in the meantime the trusts will have
time to so strongly intrench them
selves as to be practically unassailable.
In the second place, if the President is
successful in leading the attention Of
the people away from practicable lines
and into the realms of constitutional
amendment he will, at least for the
time being, preserve from further at
tack the all.essential Dingley tariff
schedule, the revision of which is 90
strongly demanded by the western
members of his party. And, looking
into the future, if the Republican
party can succeed in securing for the
President, by constitutional amend
ment and Congressional legislation,
the control of the trusts, it will have
converted his office into an autocracy
which will render it almost impossible
to unseat President elected by that
party. The whole trend OF the Roose-
welt administration, say leading Demo
Gratis, has been along the line Of con-
centrstion Of power in the White
House. The attainment of the end
advocated by the President would be
the elimination of that policy. 1t is
generally believed, however, that the
American people are too shrewd to
be misled and that they will recognize
that the present incumbent of the
White House, even il he be himself
honest, 10 . menace to American
ideals and to liberty. and that in this
instance he is being made the tool of
men who are far his superiors in FORE
cast and sagacity. "Imagine," said q
leading Democrat. last evening, the
condition of the country with all
power over the trusts vested in the
President and Mark Hanna in the
White House. Mr.. Roosevelt cannot
serve longer than 1908 at most and
after that Mr.. Hanna, or some man of
bis type, will become the logical ex.
ponent of Republican doctrines and
the inevitable leader of the party"
A statement which is being repeat.
eddy made by Republican spell.binders
calls for an emphatic denial by every
one interested in the truth OF history. I
refer to the panic OF 1894. that it was
q result of the passage of the Wilson
bill by the Democratic Congress.
There probably was never . more
widely repeated ialsehood. nor one
that 10 more generally believed, and
yet it is q matter OF common knowl.
edge, to every official and every CORE.
spondent who was in Washington at
that time, that tho panic was under
way and bound to come before Presi.
dent Harrison left the White House.
In fact, the bonds for . popular loan
to restore the gold reserve had been
engraved before Mr.. Harrison left
Washington. On leaving Washing-
ton after his first term Mr.. Cleveland
left large surplus in the Treasury.
On returning for . second term he
found sdeficit. This statement may
lie verified by the treasury reports.
The Wilson bill, which has been cred.
tied with costing the country more
than the Civil War, was productive Of
far more revenue than the McKinley
bill, the high schedules of which had
actually served to decrease the GUS
toms receipts because they put . &c.
we're check on importation. The in.
ordinately high tariff of the Mckinley
bill, Republican extravaganza, and
possibly the Sherman bill, passed by
Republican Congress, were the real
factors which combined to produce .
panic which had it's inception during
the Harrison administration but which
reached its climax after Mr.. Cleve.
lands inauguration. In the light OF
the actual facts, Republican cant
about the danger of entrueting tariff
revision to the Democratic party falls
verv fiat.
The remembrance OF the incident
in American history above referred to
10 causing considerable anxiety to
thinking Republicans st the present
time. Although every effort was made
to take advantage of the fact that a
Democratic administration was in
power when the height OF the panic
was reached, and that, to . large ex-
tent, the American public was misled.
those Republicans who were permit.
ted an insight into the actual state OF
Affairs in the treasury, realized that
the Mckinley tariff was too high to
produce revenue and that the credit of
the country was maintained only by
the reduction Of the schedules &C
complished by means Of the Wilson
bill. II became necessary, however,
for the success of the Republican
party to again increase the schedules
in accordance with the demands of
the protected interests, and therefore,
the Dingley bill was passed. At the
present time history 10 showing .
tendency to repeat itself. The coun.
try is enjoying an unusual prosperity
owing to the abundant agricultural
crops. but those who are in close
touch with treasury affairs realize that
anv chock In thu pro.nuk upoaNnr;fv