The Columbus journal., 1902-12-10

be IN element Of elasticity IN our none
taTy system. Banks afe the natural ser.
wants Of commerce. and upon them should
BE- placed. n far - practicable. th<
burden Of furnishing and maintaining {
circulation adequate to supply the needs
Of our diversined industries and Of ouI
domestic and foreign commerce: and
the issue Of this should be % regulated
that . sufficient supply should be Al
ways available for the business interests
Of the country.
Il would 20 both unwise and unneces-
sary At this time to attempt to recon
struct our financial system. which has
bsen the growth Of . century: but some
/ additional legislation II, I think. desir-
able. The mere outline Of any plan sum-
ciently comprehensive to meet these re-
| Quirements would tranSgress the appro-
| pirate limits Of this communication. II
| II suggested. however. that all future
| legislation on the subject should be with
| the view of encouraging tho use Of such
instrumentalities N will automatically
| supply every legitimate demand OF pro-
| ductive industries and Of commerce. not
| only In the amount. but In the character
| Of circulation: and Of making all kinds
| Of money interchangeable. and. at the
| will of the holder, convertible into the
| established gold standard.
Relations Of Labor and Capital.
How to secure fair treatment alike Tor
labor and for capital. how to hold In
check the INSCRIPTIONS man. whether
employer or employe, without weakening
individual initiative. without hamperfng
and cramping the Industrial development
of the country. is a problem fraught with
great difficulties and one which 1t 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.
Exactly as business men find they must
often work through corporations. and as
II is q constant tendency OF these cor
porations to grow larger. SO 1t Is often
necessary for laboring men to work In
federations. and these have become i'm
portant factors Of modern Industrial life.
Both kinds Of federation, capitalistic and
labor, can do much good. and as neces.
sary corrollary they can both do evil.
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 at
tacks upon corporations as such nor upon
unions as such: for some OF the most
far-reaching benefcent work for our peo-
pie has been accomplished through both
corporations and unions. Each must re-
frain from arbitrary or tyrannous inter-
ference with the rights Of others. Organ
ICED capital and organized labor alike
should remember that in the long run the
interest Of each must be brought into
harmony with the interest Of the general
conform to the fundamental rules of obe-
dience to the Law. Of individual freedom.
and of justice and fair dealing toward ALL
Each should remember that In addition to
power. II must strive after the realization
Of healthy. lofty and generous ideals.
Every employed. every wage worker. must
be guaranteed his liberty and his right to
do As he likes with his property or his Ia
bor so long as he does not infringe upon
theright Of others. It Is Of the highest i'm
portance that employer and employe alike
should endeavor to appreciate each the
viewpoint Of the other and the sure dis
aster that will come upon both In the
long run II either grows to take as habit
ual an attitude Of sour hostility and dis
trust toward the other. Few people de-
serve better OF the country than those
representatives both Of capital and labor
and there are many such-who work
continually to bring about q good under
standing Of this kind. based upon wisdom
and upon broad and kindly sympathy be-
tween employers and employed. Above
all. We need to remember that any kind
OF class animosity in the political world
Is. II possible. even more wicked, even
more destructive to national welfare.
than sectional. race or religious animos-
ity. We can get good government only
upon condition that We keep true to the
principles upon which this nation was
founded. and Judge each man not as a
part Of a class. but upon his individual
merits. All that we have q right to ask
Of any man. rich or poor. whatever his
wi
his residence. is that he shall act well
and honorably by his neighbor 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 exer-
cised in conformity with the principles
above set forth.
Department Of Commerce Needed.
1t IS earnestly hoped that a Secretary
OF Commerce may be created, with a
seat in the Cabinet. The rapid multiple
cation Of questions affecting labor and
capital. the growth and complexity Of 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 for the
creation Of such q position. Substantial
ly all the leading commercial bodies in
this country have united in requesting its
creation. 1t is desirable that some such
measure as that which has already passed |
the Senate be enacted into law. The
creation OF such a department would in
itself be an advance toward dealing with |
and exercising supervision over the whole |
subject OF the great corporations doing
an interstate business: and with this |
end In view. the Congress should endow |
the department with large powers, which |
could be increased as experience might |
show the need.
Cuba Must Have Consideration.
hope soon to submit to the Senate a
IoCinYOOlfy. L