The independent., 1903-12-10

WHO dlOut, OT III COuJuuCtlOu Will
his fellows, does his work along prop
er and legitimate lines. The purpose
of the legislation, which purpose will
undoubtedly be fulfilled, was to favor
such a man when he does well, and to
! supervise his action only to prevent
him doing. IL. Publicity can do no
4drm to the honest corporation. The
only corporation that has cause to
dread it is the corporation which
shrinks from the light, and about the
| welfare of such corporations we need
| not be Oversensitive. The work of
the department of commerce and la
| Dor has been conditioned upon this
theory, of securing fair treatment
alike for labor and for capital"
| President Roosevelt seemingly has
been reading up on the MARKHAM "ma-
terialistic conception of history" suf-
| ficiently, at least, to declare that I'VE
! recognize that this is an era of feder-
alton and combination, in which great
capitalistic corporations and labor
unions have become factors of tre-
mendous Importance in all industrial
centers." He does not, however, see
a "co-operative commonwealth" about
to be hatched from the egg of present
conditions. He declares that "every
man 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 the rights of 9TH
ers"-but the infringement" is to be
determined by the department of COM
merce and labor!
The president, commenting upon
the fact that the surplus for the ffscal
year was $54, ,297 ,G67, says: The in
dications are that the surplus for the
present fiscal year will be very small,
IL indeed there be any surplus" Gus
toms receipts for the past six months
were about nine million dollars less
than for the corresponding period last
year. He believes that if this decrease
keeps up the surplus will yanish-but
does not intimate what might happen
If the government were obliged to
draw out the ITO millions now "on
deposit" in the national banks.
Aside from the Panama question,
perhaps the most important sugges-
tion in the message is this: "The same
liberty should be granted the secre-
tary of the treasury to deposit the Gus
toms receipts as is granted him in the
deposit of receipts from other
sources" If acted upon by congress
which seems highly probable-this
mild, little sentence means the culmi-
nation of a series of conspiracies TO
break down our independent treasury
system and return in effect to the old
United States bank system, which
Jackson believed he had demolished
by the overthrow of Nick Biddle and
his fellow pirates. Benton believed
that the tigress had been driven to
the jungle, but that she would some
day return with litter of whelps.
This sentence is the cut for the
whelps and tigress to enter upon the
stage.
"The integrity of our currency"
says the president. "is beyond ques-
tion. and under present conditions it
would be unwise md unnecessary to
attempt reconstruction of our en-
tire monetary system" This will be
somewhat of a shock to III. III. Hanna,
]. Lawrence Laughlln. and other mot
ed fnanciers." who believe that our
currency should have more elastic
ity" and less integrity"
A faint echo OF the fight between
Mark Hanna aud the president is TO be
heard In R0oscyelt's recommenda-
tions for a commission 20 investigate
and report to congress al It's next
session what legislation In desirable
or necessary for the development Of
the American merchant marine
Marcus cannot have hls ship subsidy
for another year az least. Hope de-
fcrred may make the heart sick. but
Hanna can cure himself by taking
some of his "let well enough alone"
medicine"
Recommendation IA made Ca include
bribery as au extFaAltabe offense. The