Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1903-10-21

Skin IN pfounetlon ana the inventive
genius of our people as respects this
class of manufacturers are such that
our implements so the world around.
1--WE have for the last few years
largely increased our expectations in
iron and steel. and II seems TO me that,
with our great natural resources in this
regard, and the competition that win
inevitably continue in their production
in our own country, we viii in the flu
ture still further increase our exporta-
tons of iron and steel Duties on them
may require adjustment because OF
changes in production and consumption.
Yet the Unitcd States Steel corpora
ton, which Is the largest producer,
contributing more than one-half the
total product, has substantial eompe
ton, which has been increased since
the organization of the corporation, and
largely increased during the last year.
Prices of its products Were abnormally
increased in 1900, but they are now d.
minishing and viii continue to fall.
Trusts Part of Evolution.
TRUSTS or combinations in our eoun-
try have largely increased within the
last few years, not because of our tar
if policy. but rather because they are
part of the economic evolution taking
place In the worlds production. They
exist in all countries having protective
tariffs, and they exist as well In free
trade England. Many evils have result
ed from them, but these evils cannot
be traced to our tariE policy, nor are
they confined to our country. They are
seen on the continent and in Great
Britain as well.
Effective control of trusts must be
had through national and State regula-
ton in cooperation. Our greatest law
yers believe they can be so controlled.
The laws upon our Federal statute
books providing for national control
have been placed there by the Republi-
can party. including the effective stat
ute passed by the last Congress.
"AlI parties agree that whatever can
be done ought to be done to minimize
and remove as far as possible the evils
which exist because OF these combina~
tons. But it is plain that the adoption
of free trade and the abandonment of
the policy of protection is not one of
these remedies
THE heresy of the free coinage OF
silver at the ratio of is to l, with out
the aid or consent of any other nation,
still fingers in the Democratic party in
many States. and was only defeated in
the Iowa Democratic convention this
year after a hot contest Oh the door of
the convention.
Il do not underrate the service to
the country of leading Democrats
called gold Democrats, who continu-
ously ,coqnhated this heresy. They gave
significant aid to the sound money
cause. though in q minority in their
party This is especially 1Tyue of Presl
dent Cleveland, who. in 1893 exerted
the whole power of his administration
to secure the repeal of the purchase
clause of The Sherman law and thus
rendered to his country a distinguished
service. His courage and that of other
Democrats cooperating with the Re
publican p9rty saved the country from
the silver standard
Can there be q Doubt that this pol
icy, sustained by the Republican party
aided by the gold Democrats, has beer
of inestimable value TO every Interest
in our country?
THE gold in circulation on the LIST Of
October this year WIS more than &
thousand millions. including gold Ger
tificates. whilst ia 1896 it was about
$3.50, 0oo, 600, and il was only $125.000,
600 in 1879, when specie payments
We're resumed This increase of gold
and other forms of money was contin
uous until the panic of 1898, when il
was interrupted, and it has been con
slant since 1896.
1T is claimed by Cur opponents that
1t is part of the policy of the Re
publican party TO place the volume OF
money within the control of the banks
Of the country; but the slightest exam
nation of the situation shows that the
national banks practically have little
or no control over the volume of mon
ey. because the total amount of nation
al bank notes Is only about one-siXth OF
the total volume of the money cireula.
ton, and. whilst there is no limit to the
increase of national bank circulation
the tendency being 10 increase. there
Is limit by law upon the powe Of
the banks to diminish their circulation
the statute providing THAI bank notes
may be retired at the rate of not more
than 81. 100000 per month.
THE other five-sixths Of the circuia,
ton embrace gold and gold certificates
silver and silver certificates. green.
backs and treasury notes. each and all
convertible into gold AT the will of the
holder, gold. silver. greenbacks and
treasury notes all being legal tender n
the payment of all debts. public and
private"
The Senator finished by prophesying
the denomination and reelection Of
President Roosevelt next year.
MIR. Roosevelt and Labor.
The president makes IL very plain
that he does not propose TO discrimin-