The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1905-12-08
MANKATO FREE PRESS

nave emphasized the importance OF an
early and exhaustive consideration Of
| this question, to see whether it is not
possible to furnish better safeguards
7 than the several states have been able
to furnish against corruption of the
fragrant kind which has been exposed.
1t has been only too clearly shown
| that certain of the men at the head OF
| these large corporations take but small
| note Of the ethical distinction between
honesty and dishonesty. They draw
| the line only this side of what may be
| called law honesty, the kind of honesty
necessary in order to avoid falling into
| the clutches of the law. OF course the
| only complete remedy for this condi-
| ton must be found in an aroused pub
| lie conscience, higher sense of ethical
| conduct in the community at large and
| especially among business men and in
| the great profession of the law, and in
| the growth Of a spirit which condemns
all dishonesty, whether in rich man or
| In poor man, whether it takes the shape
Of bribery or of blackmail But much
can be done by legislation which is not
| only drastic, but practical. There is
! need of far stricter and more uni
form regulation of the vast insurance
| interests of this country. The United
| States should in this respect follow the
policy Of other nations by providing
| adequate national supervision Of com
mercial interests which are clearly ma
| tiOnal in character.
l repeat my previous recommends
ton that the congress should consider
| whether the federal government has
any power or owes any duty with re-
spect to domestic transactions in in
| surance of an interstate character.
That state supervision has proved in
| adequate is generally conceded.
The Revenues.
There Is more need of stability than
| of the attempt to attain an ideal per-
| lection IN the methods of raising rev.
| enue. and the shock and strain to the
| business world certain to attend any
serious change in these methods rem
der such change inadvisable unless for
grave reason. 1t is not possible to lay
down any general rule by which to de-
| termine the momeNS when the reasons
| for will outweigh the reasons against
such a change No change can be
made on lines beneficial to or desired
| by one section or one state only. There
| must be something like general agree
| ment among the citizens of the several
states that the change is needed and
! desired in the interest of the people as a
| whole, and there should then be sin
| cere, intelligent and disinterested eff
| fort to make it in such shape as will
| combine, so far as possible, the maxi
mum of good to the people at large
with the minimum Of necessary disre-
| gard for the special interests of locali-
ties or classes, but in time of peace
the revenue must, on the average,
| taking a series of years together, equal
the expenditures or else the revenues
must be increased. Last year lthere
was deficit. Unless our expenditures
can be kept within the revenues then
our revenue laws must be readjusted.
| It is impossible to outline what shape
such readjustment should take. for
! i
there will be need for it. 1t should be
| considered whether it is not desirable
| that the tariff laws should provide for
| applying as against or in favor Of any
| other nation maximum and minimum
| tariff rates established by the congress,
so as to secure certain reciprocity Of
treatment between other nations and
ourselves.
Economy In Expenditures.
| 1 earnestly recommend to the con-
gress the need Of economy and, to this
end, Of a rigid scrutiny Of appropria-
tons. All unnecessary offices should
be abolished In the public printing
also large saving Of money can be
made. There is a constantly growing
tendency to publish masses of unim-
portant information at which no human
being ever looks.
Yet, in speaking Of economy, must
in nowise be understood as advocating
the false economy which is in the end
the worst extravaganza. To cut down
In the navy would be a crime against
the nation. To fail to push forward all
work on the Panama canal would be
as great a folly.
| Currency.
Every consideration Of prudence de-
mandS the addition Of the element of
elasticity to our currency system. The
evil does not consist in an inadequate
volume Of money, but in the rightly
Of this volume, which does not respond
as it should to the varying needs of
communities and of seasons. Initiation
must be avoided, but some provision
should be made that will insure a
larger volume Of money during the fall
and winter months than in the less ac-
tive seasons of the year, so that the
currency will contract against specula-
ton and will expand for the needs Of
legitimate business. At present the
treasury department is at irregularly
recurring intervals obliged in the inter
est of the business world-that is, in
the interests of the American public
to try to avert financial crises by pro-
viding a remedy which should be pro-
vided by congressional action.
Business Methods In Departments.
At various times have instituted in
veStigations into the organization and
| conduct of tho husineSS of the eyecJ-