The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-08
Panama DWarfS All Else,
He Says.
Continued from First PageD

our transportation facilities, IN building
/ up our merchant marine, in preventing the
! entrance of undesirable immigrants, in
| improving commercial and industrial con
ditions, and in bringing together on COM
mon ground those necessary partners IN
industrial progress-capital and labor.
/ Commerce between the nations is steadily
| growing in volume, and the tendency of
the times is toward trade relations. Con-
slant watchfulness is needed to secure to
i Americans the chance to participate to the
/ best advantage in foreign trade; and We
may confidently expect that the new de-
partment will justify the expectation of
/ its creators by the exercise OF this watch
4 fulness, as we'll AZ by the bus'u. ,sllke
administration of such laws relating to our
internal affairs as are intrusted % its
/ care.
In enacting the laws above enumerated
the Congress proceeded on sane and con
servative lines. Nothing revolutionary
was attempted; but common sense and
successful effort was made in the direc-
ton of seeing that corporations are so
handled as to subserve the public good.
The legislation was moderate 1t was
characterized throughout by the idea that
we were not attacking corporations, but
endeavoring to provide for doing away
with any evil in them; that We drew the
line against misconduct, not against
wealth; gladly recognizing the great good
done by the capitalist who alone, or in
conjunction with his fellows, does his
work along proper and legitimate lines.
The purpose of the legislation, which pur-
pose will undoubtedly be fulfllcd, was to
favor such man when he does well and
to supervise his action only to prevent
him from doing ILL., Publicity can do no
harm 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 cor
porations we need not be over-sensitive.
The work of the Department of Com
merce and Labor has been conditioned
upon this theory, of securing fair treat
nent alike for labor and for capital.
CAPITAL AND LABOR.
The consistent policy of the National
Government. so far as it has the power,
is to hold in check the INSCRIPTIONS man,
whether employer or employee; but to re-
fuse TO weaken individual initiative or to
hamper or cramp the industrial develop
ment of the country We recognize that
this is an era of federation and combina-
ton, in which great capitalistic corpora
lions and labor unions have become fac
tors of tremendous Importance In all in
dustrial centers. Hearty recognition is
given the far-reaching, benefcent work
which has been accomplished through both
corporations and unions. and the line as
between different corporations, as between
different unions. is drawn as 1t is be-
tween different individuals; that is, it is
drawn on conduct, the effort being 20 treat
both organized capital and organized labor
alike; asking nothing save that the in
terest of each shall be brought into har-
mony with the interest of the general
public, and that the conduct of each shall
conform to the fundamental rules o,
obedience to law, of indiy&ral freedom,
and of justice and fair dealing towards
ALL Whenever either corporation, labor
union, or individual disregards the law or
acts in a spirit of arbitrary and tyrannous
interference with the rights of others,
whether corporations or individuals, then
where the Federal Government has juris-
dicton. it will see to it that the miscon-
duct is stopped, paying not the slightest
heed to the position or power Of the cor
poration, the union or the individual but
only to one vital fact-that is, the ques-
ton whether or not the conduct of the
individual or aggregate of individuals is
in accordance with the law of the land
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 others No
man is above the law and no man is be-
low it; nor do we ask any mans permits
sion when we require him to obey it.
Obedience to the law is demanded as q
right; rot asked as favor
/ We have cause as a nation to be thank
full for the steps that have been so sue
cessfully taken to put these principles into
effect The progress has been by evolu
ton. not by revolution. Nothing radical
has been done; the action has been both
moderate and resolute. Therefore the
work will stand. There shall be no back
ward step. If in the working of the laws
it proves desirable that they shall at any
lpcint be expanded or amphfed, the
amendment can be made as its desirability
is shown. Meanwhile they are being ad
ministered with judgment, but with in
sstence upon obedience to them; and
their need has been emphasized in signal
fashion by the events of the past year.
|GovERNMENT RECEIPTS AND Elk
| PENDTTURES.
From all sources, exclusive of the postal
service the receipts of the Government
for the last fiscal year aggregated $780,
396,674 The expenditures for the same
period were S506, O99 ,007 the surplus for
the fiscal year being 1927, $751; The in
dications are that the surplus for the
present fiscal year will be very small if
indeed there be any surplus. From July
to November the receipts from customs
were, approximately, nine million dollars
less than the receipts from the same
source for corresponding portion of last
year. Should this decrease continue at
the same ratio throughout the fiscal
year, the surplus would be reduced by,
| approximately, thirty million dollars
Should the revenue from customs suffer
much further decrease during the fiscal
year the surplus would vanish. large
, surplus is certainly undesirable. Two
years ago the war taxes were taken of
with the express intention of equalizing
the governmental receipts and expendi
lures and though the first year there
after all showed surplus, it now seems
: likely that a substantial equality of reve
, - -, ...... a;4,,o ill he att tanned Smell