The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-06
PLAYING PAPA TO
WALL STREET
Build These Roads, | III
sure You Against Loss.
If COoper's Bill to Exploit the Philip.
pines Passes, This is What
the Government Will Say
to the Capitalist.
Especial to News and Observer.)


Washington, d. c., March 5.-Another
step in the exploitation of the Philippine
Islands will soon be taken by this Re
publican administration. True to the in
stincts of graft and loot the administra-
ton. instead of proceeding itself to the
building of railroads, intends to let out
the privilege to capital in this country
and guarantee to that capital the inter
est on the investment. In other words
this country is opening places for the
investment OF capital and guaranteeing
TO the capital immunity from loss. They
propose to authorize the Philippine gov
eminent to execute legislative guaran-
tee OF per cent. per annum on 40,O0O,000
of bonds for railroad construction in those
islands, and the bill will be introduced
this week by Chairman Cooper, of the
House Committee on Insular Affairs. The
bill will bar out foreign capital so as to
give the capitalists OF Wall Street the
monopoly of the game. This administra
tion has been persistent in it's efforts to
get the good people of the country to be-
lieve that the Wall Street interests are
dead against it, for political reasons and
for political effect. Does this move look
like it? If Secretary Taft thought that
it would hasten the civilization and edu-
cation of the islands t. construct rail
roads therein, why does not the govern
ment engage in the business itself instead
of paying capital to do so? 1t would be
a grand object lesson in the government
ownership of railroads and public utili-
ties for the government to undertake this
enterprise. Instead of that the admins
tration sells out to the Wall Street sharks
and guarantees them immunity from loss
and sure return on the capital invested
and in return they will get Il handsome
campaign contribution. This is the way
this thing looks to a man who IL on the
inside of things at the national capital,
and / think / have "called the turn 1t
has never occurred to these eXploiters,
grafters and hooters that this legislation
will clearly be unconstitutional. But
what in the name of all that stands for
graft does the Republican party care
about the Constitution? When the Con-
stitution stands in the way of anything a
Republican wants to do, he simply steps
on it and mashes it into the mire. Until
the voters of the country realize that
they have it in their power to stop this
sort of thing it will continue ad libitum
ad infinitum When will they see the
drift and get busy?
The Hon. John Sharp Williams, floor
leader of the Democracy in the House of
Representatives, has introduced bill for
the relief of the sufferers by fire at Bal
timore by rebate of duties on building
material and suspension OF certain intern
al revenue taxes. BY so doing he has
again put the Republicans in hole,
soaped the sides and pulled up the ladder.
IF they refuse to pass the measure they
will g up against precedent established
when the Chicago fire occurred in 1871
and thereby rob many honest men who
have been unfortunate If they do pass
it they will admit the Democratic con-
tention that the tariff is tax and that
the tax is paid by the consumers Of the
country and not by the foreigners, as
maintained by them. They are UP against
it. This bill cuts both ways like the
niggers coon trap 1t catches them ii
comm and goin' Let the CALLED jade
vince.