The Indianapolis journal., 1903-09-01

tate into the mouthpiece his letters IN an or
embossed the cylinder. Edison has re
principles OF finance and sound economic
policies Commercial success is not the
fruit of unreasoning chance. 1t is not the
result of accident. 1t is due to the OBJ
servance of wise policies and rational prac-
tices.
A SIGNIFICANT FACT.
1--WE send our commodities into almos,
every port and draw from all countries
trade I'm return. 1t is a significant fact
which we may well ponder, that con-
tribute to alien ship owners near one hun
dred and seventy-five millions of dollars per
annum, in payments for the transportation
of our imports and exports We carry bare
ly 10 per cent. of our foreign commerce in
our own vessels. 1t would seem that the
tremendous tribute which we are making to
support the merchant marine of other coun-
tries is in violation of the plainest prin-
ciples of sound national policy. The skill
enterprise and reSourcefulnesS or our coun-
trymen would seem 10 be adequate TO en-
able to re-establsh the prestige of our
nation in the carrying trade upon the high
seas We are inspired by our navy, which
has so splendidly vindicated its power and
the national dignity, and we shall hope In
good time to see our vessels of peace
freighted with our commerce, bearing our
flag in all the ports of the earth.
This is not question OF mere sentiment
for IL has very material and practical
bearing, not only with respect to the saw
ing OF the present large annual contri-
button to foreign vessel owners, but upon
the further extension of our commerce In
the interest of all sections of our common
country.
You are fortunately situated at the head
of the great lakes, which afford unsur-
passed facilities for ready and cheap trans
portati This means much in the future
"A oyaln ont nf fr1d de to xynIrr
farmers and much to your manufacturers.
1.-The growth of commerce upon our great
lake system in volume and value verges up
on the marvellous. 1t is said that the value
century ago was 81 OO0. 900 per annum but
that this year it will exceed 1915, 100000 The
tonnage which passes through the locks al
Sault Ste. Marie is twice as great as that
which is contributed to the Suez canal by
the entire world. In twenty years this
tonnage has increased 1.742 per cent. In
1880 il was l, 734 600, and last year it rose tC
81 ,955 O0G tOns-an almost incredible expan'
sion.
''It is obviously important that the cana
system i'm connection with the great lakes
should be so improved and maintained al
all times to afford the ready passage ot
vessels of the heaviest burden between the
lakes, and may we not hope that in good
time adequate provision will be made Sc
that they may find an outlet to the Atlantic
seaboard?
LABOR AND CAPITAL.
Zone of the most discussed themes of the
day is the proper relations of labor and
/ capital. and how best to secure and main
tain them. 1t is a far-reaching question
which vitally concerns not only the pres
ent but also the future. IL is a subject tC
be dealt with deliberately and wisely and
without any trace of either passion OF
prejudice To secure TO each a just meas
ure of the fruit of their joint operation
should be the universal desire. Wars be-
tween them have been many, resulting in
great losses to each and to the community
A resort to force to secure justice should
not be necessary. There should be a fair
and effective settlement of differences as
they arise In the court OF reason. rms
must come through patience, forbearance
and education. The process should be evo-
lutionary rather than revolutionary. We
must teach the wholesome doctrine that
each has rights which the other must re-
spect This will pave the way to their mu-
tual recognition. Here surrounded by the
many and rich products of both labor and
capital, we may we'll pause to contempla te
their respective rights. and venture the
hope that they may come more and more tC
realize their just relation to each other and
their absolute interdependency. Reason Is
the chancery of justice and civilization. To
IL we can confidently commit differ
ences. Her judgments may sometimes seem
to be slow. but they are altogether just and
are alone such as abide.
Our modern development has excited
the surprise and challenged the admira-
tion of the world. Capital has combined
as never before. Corporations have been
organized upon an unprecedented scale
and have been carrying forward many
| enterprises of large magnitude. In the
main. they have been accomplishing a
| good purpose. They have been doing that
which individual effort was unable TO do
| To say that all of this has been done
without encroaehment upon the rights ol
in6f nd unit in MAJ m
stances is to ascribe TO human agencies
an infallibility which they do not possess
| But because some do wrong, we should
not condemn all The State Is potent. IL
| possesses the power to hold within proper
| and legitimate restraint all agencies, in.
| dividual and corporate. Corporations ano
| from the State, within it's absolute
| and perpetual control. The State, in hel
| supreme authority, may say To them
Thus far thou shalt go and no farther
! prerogative. butEit should exercise it-no
/ in a narrow destructive spirit; not In
merely punitive may. but so as to pro,
tect and preserve wholesome enterprise
| and insure generous competition.
! OPERATION AND COOPERATION.
"Our progress is the result of the opera
ton and cooperation of many interest:
through a period of many years. 1t is th'
result of the action of great laws of trade
which are unwritten. and should not la!
upon the agencies through which we hav'
come to our present prestige and power tb'
/ violent hands of ignorance or passion les
we do more harm than good, lest we create
/ greater ills than those we suffer. W.
| should not hesitate To denounce wrong an'
seek to eradicate it wherever ii exists. w
| should locate IL and deal with it, but w
should not strike out blindly and equal.
| against both the evil would remove an'
| the good we should preserve.
! Above all things. we should avoid tn
! demagogue as a pestilence and take counse
4 only of reason and right. There is n.
wrong we have not the power 10 remed,
| or prevent. and that power should sx
| ercise with wisdom and unflinching pur
pose. We should safeguard legitimate en-
| terprise. fair competition and capital prop
/ erly employed Neither the appearance o
/ prejudice nor the voice of greed shoul,
/ swerve US from this purpose. N is mucl
our imperative duty to protect capital ant
| labor in the free and proper exercise q
| their functions as IL is TO restrain and for
I bid the encroachments of wrong.
| There IS more vital or wholesom
| lesson TO ne drawn amidst these number
less evidences OF peace. these rewards o