The Montgomery advertiser., 1905-12-29


 stock It Is the State that authorizes the issue of the stock and limits it in amount. Many corporations are not engaged in interstate commerce. and there are instances In which the courts have held that the interstate business of banks and insurance companies does not constitute interstate commerce. On about the idea that the .offenses of corporations against State laws should be punished by the State government. fer the Federal Government to 1egis- late for corporations it will be neces- sary to amend the federal constitution. tative zenor's position will find much support from Democrats in Congress. The party has become sadly demoral- posed to stand firmly for. any. of the ancient doctrines of its founders and ahiest exponents. Under the rule of Bryan It threw away the hard money Of a monetary theory whish embodied the very acme of paternalism in it's apotheosis of Governpent fiat; and has ernment ownership of private enter prises and Government interference with State and local affairs generally, in sharp antagonism to the strict con strnction tenefs of an earlier day It sometimes seems as if the Democratic leaders of today are more concerned to than they are to adhere to the immor- tai principles of the party. Represen- tative Zenor may be pioneer in movement for the return 10 better day.
 We give space to this editorial. partly because it contains some essential truths. and partly because 1t gives Democrats some deserved raps. We have heretofore commented on the dan geruos character of such legislation as that proposed by Representative Will Hams, of Mississippi in his bill author izing Congress to punish corporations for over issue of stock. Such legisla- ton as that would strike at the very root of our system of government It would be subversive of all semblance of State power for 1t would take from the State the right to regulate it's i'm ternal affairs in its own way-a right as we'll established as anything in the Constitution. and which is one of the vital principles of%Jefrersonian Democ- racy. Such legislation would be the beginning of the end of republican form of government, for 1t would be the opening wedge and the precedent for legislation which would leave the States the creatures of a centralized government.
 And The Star has a right to knock Democrats for their stampede towards Rooseveltism. It is not merely that he is Republican and hence cannot be pattern for Democrats. but that he has proven himself an unsafe leader in more than one respect. It has become plain since Congress met that the strong. conservative men of his own party have become distrustful of him and are refusing to follow him or en- dorse his blundering methods. There was a recent time when 1t looked as if Democrats were going over to Roose- welt, body and brooches. Whether they were really deceived in him. or wanted to put the Republicans in hale. or wanted to fawn on the Presi- dent for what they could get out of him. we do not say. but the disposi- ton to forsake Democracy and embrace Rooseveltism was not at all creditable to Democrats. It is to be hoped that they are cured. or in fair way to be- come so. There has been enough since congress IHels OHS WOulu to unite and solidify our party as never before.
 The Stars allusion to Democracy's surrender to Bryanism is deserved. but there was some reason for that. There were various grounds for Democratic dissatisfaction and various reasons for following a new leader who promised so much. It was one of those upris- ings which occur in politics. as in other things, and which cannot be accounted for or properly explained.
 But that all belongs to the dead past That it was an almost fatal attack of political delirium is beyond doubt, but the party is recovering and there will be no more of the 1896 alterations. we are sure. This other swing towards Rooseveltism and centralization is far more dangerous than the Bryan move ment was. for it is a swing entirely away from the best principles of Dem ocracy. and we hope it will not endure. In fact. the President himself is doing more to turn Democrats back to safe and sure ground than any other influ- ence can. The stampede is checked we predict.