The daily morning journal and courier., 1904-07-08

permitted, through congressional favor, to draw heavy tribute from the Ameri- can people. This monstrous pervertion of those equal opportunities which our political institutions were established to secure has caused what may once have been infant industries to become the greatest combinations of capital that | the world has ever known. These pub, licly favored enterprises have through trust methods been converted into mon opolies, thus bringing to an end domes- tic competition, which was the only check upon the extravagant profits made possible by the protective system. These industrial combinations by the f. nancial assistance they can give, now control the policy of the republican party. We favor a wise, conservative and business-like revision and grad-- ual reduction of the tariff by the friends of the masses, and for the commonweal, and not by the friends of it's abuses, Its extortions and it's discriminations, keeping in view the ultimate end of equality of burdens and equality of opportunities, and the constitutional purpose of raising a revenue by taxa tion, to wit-the support of the federal government in all its integrity and vi rility, but in simplicity and keeping also in view, as men of common sense should, existing conditions, however wrongfully, mistakenly or unjustly brought about, and the danger to the cause of tariff reform itself, of abrupt and revolutionary reversal of policy. We should bear in mind, in short, these two things: First, the general principle that the sole derivation of the power of taxation is the support of the federal government, economically, ef- l fectively and constitutionally adninis- tered and, second, the equal truth that in the assertion of any general princi- pie and in reaching any ultimate end, however sacred and logically unavoid-. able due regard but only due regard, must and should be paid to actually existing conditions.
 l 5. We favor the reduction of tariff l taxation upon trust produced articles to the point where foreign competitors may enter the American market when ever trusts and combines, seeking mon opoly, raise their prices to the Amer ican consumer above reasonable and just profit, by such reduction depriving trusts and monopolies of the power to extort from the American people, un- der shelter of American law prices higher than those charged foreigners for identical articles.
 The Money Question.
 The discoveries of gold within the past few years and the great increase lin the production thereof, adding two thousand million dollars to the world s supply, of which seven hundred mil- lions falls to the share of the United Estates, has contributed to the main- tainance of a money standard of value, Inc longer open to question, removing that issue from the field of political contention.
 The Isthmian Canal.
 I Our party having long earnestly ad- yocated the construction of an inter- oceanic canal for the purpose of na- tional defence and commerce between 1.-the states and with foreign nations, we favor the early completion of the Iisthmian canal.
 But while making this declaration and accepting the results of an accom- plished and irreversible fact, we cannot too forcibly express our disapproval of lthe methods by which, in disrepard of the usages and obligations of interna- tional law and treaty obligations, the canal route has been acquired, or too solemly record our hope that this pre- cedent of defiant diplomacy may never be used against us to our humiliation and injury.
 We recognize that the gigantic trusts and combinations designed to enable lcapital to secure more than it's just lshare of the joint product of capital land labor. and which have been fos- tered and promoted under republican rule, are a menace to beneficial com petition and an obstacle to permanent lbusiness prosperity.
 We demand the vigorous and impar- tiaI enforcement of the laws already made to prevent and control both trusts and combinations and We favor such further legislation in restraint thereof as experience shows to be necessary.
 Corporations chartered by authority of the people must forever remain sub I ject to regulation in the interest of the people. A private monopoly is indefen-
 sible and intolerable. We recognize the right of capital in all legitimate lines of l enterprise to combine for the increase of business, for enlarging productive l capacity and for decreasing the cost of production; but when such combina- ton in it's purpose, or effect, creates or tends to create monopoly in its pro- l duction to restrain trade, or to stifle lcompetition; to increase cost to the con 3l sumer, or to control the market, it violates the spirit of our laws, because inimical to public welfare and peace and should be so regulated, controlled or prohibited by law as to amply pro- tect the public interests. I We demand the restraint of such ille- gal combinations be entrusted to the
 democratic party which is not responsi- ble for their existence and which has ever protested against their continu- ance. a-@, Sr" >5 I We condemn the republican system of legislation under which trust monopo- lies are enabled to exact higher prices for their manufactured products from
 our own people than they sell them