The herald-advance. (Milbank, S.D.) 1890-1922, 1902-12-05

rates may be equalized to meet the vary
ing needs of the seasons and of widely
separated communities, and to prevent the
recurrence of financial s~tringencies which
injuriously affect legitimate business. it is
necessary that there should be an element
of elasticity in our monetary system.
Banks are the natural servants of COM
merce, ana upon them shOuld be placed,
as far as practicable. the burden of fur
n1shlng and maintaining a circulation ade-
quate to supply the needs of our diversi-
fed industries and of our domestic and
foreign commerce.; and the issue of this
should be SO regulated that a sufficient
supply should be always available for the
business interests of the country.
IT would be unwise and unnecessary at
this time to attempt to reconstruct our
financial system. which has been the
legislation is, L think, desirable. The
mere outline of any plan sufficiently COM
prehenslve to meet these requirements
Wouid transgress the appropriate limits
Oh this communication. 1T is suggested.
however, that all future legislation on
the subject should be with the view of
Encouraging the use of such instrument
talites as will automatically supply every
legitimate demand of productive industries
ana or commerce, not only in the kinds
OF money interchangeable. and. at the
Will OF the holder. convertible into tho
established gold standard.
l again call Your attention to the need
or passing a proper immigration law, COW
erlng the points outlined in my message
." ~ u liz III ~ Session OF the present
congress: substantially such q bill has al
ready passed the house.
""'"""' "et''esn Capital and La
How to secure fair treatment alike for
laooT ana for capital. how to hold in
cneck the INSCRIPTIONS man. whether
tIhployer or employe, without weakening
individual initiative, without hampering
ana cramping the Industrial DEVELOPMENT
Oh the country, is a problem ~fraught with
great difficulties and one which it is of
Of sanity and far-sighted common sense.
rs wei as of devotion to the right. This
IS an era o: federation and combination.
exactly as business men find they must
oIten work through corporations, and as
II is a constant tendency of these corpor-
atoms to grow larger. so it is often nee
essary for laboring men to work in fed
erations. and these nave become impor-
tant factors of modern Industrial life.
both kinds of federation. capitalistic and
labor, can DO much good. and as a nee
Opposition to each kind Of organization
should take the form Of opposition to
whatever is bad in the conduct of any
given corporation or union-not Of attacks
upon corporations as such, nor upon
unions as such; for some Of the most far
reaching henelicent work for our people
mas been accomplished through both cor
porations and unions. Each must refrain
from arbitrary or ]tyrannous interference
with the rights of others. Organized cap
ttal and organized labor alike should re-
member that in the long run the interest
Of each must be brought into harmony
with the interest of the general public;
and the conduct of each must conform to
he fundamental rules of obedience to the
law, of individual freedom and of Justice
and FAR dealing toward all. Each should
remember that in addition to power it
must strive after the realization Of
healthy. lofty and generous ideals. Every
employer, every wage-worker. must be
guaranteed his liberty and his right to do
as he likes with his property or his labor
so long as he does not infringe upon the
rights OF others. 1t is of the highest i'm
p%ortance that employer and employe
the viewpoint of the other and the sure
disaster that will come upon both in the
long run If either grows to take as habit
Ial an attitude of sour hostility and dis
trust toward the other.
Few people deserve better of the coun-
try than those representatives both of
capital and labor-and there are many
such--who work continually to bring about
a good understanding of this kind, based
upon wisdom and upon broad and kindly
sympathy between employers and en-
ployed. Above all, we need to remember
that any kind of class animosity in the
political world is, If possible. even more
wicked. even more destructive to national
welfare, than sectional. race or religious
animoSity. We can get good government
only upon condition that We keep true to
the principles upon which this nation was
founded, and Judge each a not as a part
of a class. but upon his individual mer-
Its. All that we have a right to ask OF
any man, rich or poor, Whateyer his
his residence. is that he shall act well
and honorably by his neishbor and by his
country. We are neither for the rich
man as such nor for the poor man as
such; we are for the upright man, rich
or poor. So far as the constitutional
powers of the national government touch
these matters of general and vital mo-
ment to the nation, they should be. ex-
ercised in conformity with the principles
above set forth.
New Seat in the tnDinet necOih-
J It,is earnestly hoped that a secretary OF
may be created, with a seat
in the cabinet. The rapid multiplied
ton Of questions Affecting labor and cap
ilal, the growth and completely ot the
organizations through which both LABOR
and capital now find expression. the
steady tendency toward the employment
of capital in huge corporations. and the
wonderful strides of this country toward
leadership in the international business
world justify an urgent demand Tor inc
creation of such a position. Substantial.
ly all the leading commercial bodies lr
this country have united IN requesting
Its er maasnre 1t IL hat + te whieh ha asa alr som,
passed the senate be enacted into law
The creation of such a department. wouh
In itself be an advance toward deailnt
WITH and exercising supervision over I'M
whole subject of the great corporation
doing an interstate business; and Wit
ithis end in view the congress should en-
DOW TINS department VIZ i Y wv -
which could be increased as experience
might show the need.
Re.iyrOcnl rrade Relations FnvOre,
lone soon to submit to the senate
recipro,. ~ .featv with Cub On May =
last TIL. United States kept it's promise I,
the islahd by formally vacating Cuban sol
and turning Cuba over to those whom
her OWE people had chosen as the frs
officials of the new republic
Cuba hes at our doors, and whateve
affects hec for good or for ill affects 4
Y also. So much have. our reople .eit ~
that in the Platt amendment W. q -hnltes
took the ground that Cuba a..s& here
after have closer polit. :al reldtftia wit
us thar with any other D1wer- Thus il.
sense Cuba has become IA part Of onf In
ternational political systs.n. Tt.s make
/ 1t necessary that in return she should h
/ given some of the benefits OF becomin
part of our economic system. 1t Is, fror
\ our own standpoint, a shoTt-sish.cd an
mischievous policy to fail 20 'ScogniZ
this need. Moreover, 1t is unworthy OF
mighty and generous nation, itself tn
greatest and most successful republic |
history. to refuse to stretch out a he!pin
| hand to a young and weak sister republ
sijust entering upon it's career Of independ
hence. We should always fearlessly insis
luIon our rights in the face of the strons
land we should with u~ngrudging hand q
sour generous duty by the weak. urg
the adoption of reciprocity with Cuba INC
bnly because it is evinently for our ow
interests to control the Cuban markt
anI nv oyprv Fma1nS tn foster orr 81