Daily capital journal. (Salem, Oregon) 1903-1919, 1906-12-04

the evils of excessive over capitaliaa-
tion, and that will compel the dis
closure by each big corporation of
its stockholders and OF It's properties
aud business, whether owned direct
ly or through subsidiary or afiiliated
corporations. This will tend TO put
a stop to the securing or inordlnate
profits by favored individuals at the
lexpense whether OF the general pub
lie, the stockholders. or the wage
workers. Our Efforts should be not
SO much TO prevent consolidation as
such, but so as to supervise and con-
troll Il as to see that Il results in no
harm to the people, The rcactiouary
or ultraconservatlve apologlsts for
the misuse OF wealth assall the effort
to secure such control as step to-
ward socialism. As q matter OF fact
II is these reactlonaries and ultra
conservatives who are themselves
most potent In increasing socialistic
feeling one of the most efficient
methods of averting the eonso.
Quences of dangerous agitation,
which Is so per cent wrong, is 20
remedy the 20 per cent OF evil as
TO which the agitation Is well found
ed The best way TO avert the very
undesirable move for the govern
mental ownership OF railways Is to
secure by the government on behalf
OF the people as whole such ade-
quate control and regulation OF the
great Interstate common carriers as
will do Way with the evils which give
rise TO the agitation against them.
The national government has long
derived It's chief revenue from tar
IN on imports and from an internal
or excise tax In addition TO these
there Is every reason why, when next
our system OF taxation ~ revised.
the national government should Inn
pose q graduated inheritance tax.
land. n possible, graduated income
tnx. The man OF great wealth owes
a peculiar obligation TO the state.
because he derives special advan-
tages from the obligation In the way
he leads his daily llfe and In the way
he earns and spends his money. hut
It should also be recognized by the
way In which he pays Tor the protce-
tlon the state gives him.
Great progress has already been
made among farmers by the creation
of farmers Institutes. Of dairy assoc
Citations. OF breeders association.
horticultural associations. and the
like. A striking example of how the
government and the farmers can CO.
operate is shown In connection with
the menace offered To the cotton
growers OF the southern states by the
advance OF the boil woevll The de-
partmont is doing an II can TO orga
nizo the farmers IN the threatened
districts. Just az Il has been doing al
Il can 20 organize them In aid OF its
work To eradicate the cattle fever
tick In the south. The department
can and will cooperate with all such
association. and Il must have thel'
help n lts own work Is 10 be done ia
the most cnicient style
Let me once again call the atton'
ton Of the congress 20 two subjects
concerning which have frequently
before communicated with them
One Is the question of deycloplng
American shipping ! trust that d
law ombOdying Ia substance the
Views. expressed In the report ou
his subject laid before the house AZ
~ last session viii bee past. / am we'll
aware that In former years objection
able measures have been proposed lu
reference 20 the oncouragement 0i
me that the proposed measure n as
nearly unoblectionable aa any can
be.
There should bee "a considerable In.
crease in bills of small denomlna
tlons. Permission should be given
banks. n necessary under settled
restrictions. 20 retire their circulation
to larger amount than three mil
lions a month.
most earnestly hope that the
lbul 20 provide a lower tariB for or
else aboslute free trade In philippine
products Will become law No
harm will come 10 any American In
dustry. and While there viii be some
small but real material boneht 10