The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-03

t'a4atl. l. nov enjoying, OF upSettlnk lte
liked economic policy.
The cases in which the tariff can produce
monopoly are 40 few as to constitute an
inconsidera BILE factor in the question. but
Of course If in any case il be found that a
given rate Of duty does pron,Stea monopoly
winch works i'll no projections would object
10 such reuuctipn of the duty a. would
'qualiZe cOmpeI lion.
WOULD REMOVE DUTY on COAL.
IN my Judgment, the tarifl on anthracite
coal should be removed, and anthracite put
actually, where II now Is nomlnaly, on the
free list. This would have no effect at all
save IN crises, but in crises il might he Of
service TO the people
FINANCIAL LEGISLATION DESIRABLE.
Interest rates are "a potent factor IN BUSH
mess activity, ana in order that these rat es
may he equalized TO meet the varying
needs Of the seasons and of widely sepa-
rated communities, and to prevent the
recurrence Of financial stringences which
inJuriously affect legitimate business, il is
necessary that there should he an element
OF elasticity in our monetary system. Banks
are the natural servants of commerce. ana
upon them should he placed. as far a. prac-
ticable, the burden of furnishing and main
tanning circulation 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 sufficient supply should he always
available for the business interests Of the
country
II would he both unwise and unnecessary
AZ this time to attempt to recOnst ruCt our
financial system. which has been the growth
Of century, hut some additional legSlat ion
l.. ! think. desirable. The mere outline of
any plan sufficiently comprehensive to meet
these requirements would trahsgress the
appropriate limits # this uniCati ion
l. Is suggested, however, that all future
legislation on the subject should be with
IA" view of encourl ging the use of such
ius,rum"ntalities a. will automatically sup
ply every Legitimate demand of productive
industries and of commerce. not only in
The amount, but In the character of circu-
l1'i'n and # making all kinds of money
interchangeable, and, al the will of the
holder convertible into the established
gold standard
again call your attention to the need If
passing proper immlgrat ion law, covering
the points outlined in my message TO you
a. the first S.s,sou Of the present Congress,
substantially such bill has already passed
the House.
The lABOR QUESTION
How TO secure fair treatment alike for
labor and for capital, how To hold in check
III" inscription, man, whether employer
or employee. without Weakening individual
initiative, without hamp hin and cramping
The industrial development of the country.
Is a problem lraught with great difficulties
and one which il Ii of the highest Importance
10 solve on lines of sanity and far-sightod
common sense a. well a. of devotion to
the right
This j. an era Of federation and COM
biuation. Exactly az business men find
they must often work through curporG-
tons, and a. II j. a constant tendency Of
these corporations 10 grow larger, il j.
often necessary for laboring men 10 work IN
declarations, and these have become iIn-
por'an' factors Of modern industrial life
Both kinds of federation. capitalistic and
az "a
curolary they can both do evil
Opposition 20 each kind of organization
should AZ" the form Of opposition 10 what
ever i bad IN the conduct of any given
corporation or union-not Of attacks upon
as such nor UPON unions a.
such, Tor some of the mos, far-rcaching
benefcent work for our peope has been
accomplished through both corporations
and unions Each must refrain from arb-
trary or tyranuous interference with tn"
rights of others.
Organized capital and organized labor
alike should remember that in the long run
the interest Of each must be brOugh, into har-
mony with III" interest Of the general prh'ic:
and II" conduct Of "a,a mus. conf ~. %
tho fuldaulrutal .5!,.S Cf a,.,iirucn Ia the
law, - Individual freedom. and Of Justice
and lar dealing toward all Each should
roren' - that in addition to power II
mast -triv" after The realization II healthy,
lofty and generous ideal, Every en-
plOv"r, every Warc-worker, must l.. guar
artced his liberty and his right 10 do a. he
likes with his property or his labor - long
q, %" does not infringe upon the rights u
Others
Il IS Of IN" highest importance that em-
pluy"r and employee alike should endeavor
10 apprecia'" each the viewpoint of the
other and N" sure disaster that will come
upon both N the long run if either grows
20 TAX" a. hahitual an attitude of sour
hostility and Glslrust toward the other
Few people deserve better Of the country
than tro5" representatives, both Of capital
and auor--and there are many such-who
work continually To bring about a good
Of this kind, based upon
wisdom and upon broad and kindly SYM
pathy between employers and employed
At Owe all, Ne need to remember that any
kind of class animorlty in the political world
IL, If possible, even more wicked even more
destructive to national welfare than sec
tiou1i, race or religious animosilv
We can get good government only upon
tnat We keep true TO the principles
upon which this nation was founded, and
Judge each man not as a part Of n class, bu.
upon his Individual merits All that We have
a right to ask of any man, rich or poor, what
ever his creed, his occupation, his birth
place or his residence il that he shall act
we'll and honorably by his neghlor and
by his country. We are neither for the
rich man a. such nor for the poor man as
such, Ne are for the upright man. rich
or poor. 80 far as the Constitutional DOW
cr- of the National Government touch these
matters of general ana vital moment TO the
IaiIou, they should be- exercised in con-
foImiy with tn" principles above set forth
SECRETARY OF COMMERCE
II II earnestly hoped that IA Secretary Of
1 OmWeiC" may bc created, with a scat in
tn" ,aulh"t The rapid multiplication of
questions affecting labor and capital, the
X Owth ana compile Nuy of the organizat ions
through which 10th labor and capital now
md expression, tn" steady tendency toward
the employment IF capita in huge corpora
lions, ana the WONDERFUL Striues of this
country toward leaaeiship in the iLterpa-
tional business I'D Justify an urgent de-
Inand for the creation OF such a position
substantially all the leading commercial
bodies IN this country have united in re-
guessing its creation II is desirable tina,
some such measure as that which has al
ready passed the Senate he enacted into
law
The creation of such departm
would IN Itself be an advance toward deal.
ing with ana exercising supervision over
the whole subject OF the great corporations
DONG al htefst.~-. buein, IS ..d wi(nthis
end IN View, the Congress should endow
the department with large powers, which
could he increased a. experience might
show the need.
RECIPROCITY TREATY WITH CUBA
] hope soon to submit TO the Senate n |
treaty with Cuba On Nav %
last the United states kept its promise IN |
the island by formally vacating Cuban |
soil and turning CUBA over To those whom
her own people had chosen as the first of
hclals OF he new republic