The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1906-07-12

watered stock probably the better il
will be. During the year 1904 there
were 211, ,O74 miles of railroad in op
Grafton in the United States, will
liabilities amounting to $14, 4,095,
500, ia, more than fourteen billions
OF dollars. This would make thecost
of construction $66,7SO per mile
The people of the United States are
required, as far as possible, to make
good this enormous valuation when
the law is that a common carrier
chartered by the State or the nation
can not exact more than a reasona
bly, fair return upon the actual capi
tai invested, and when it is likewise
probably true that the above valua.
tions, to say the least, are utterly
unreasonable and must represent q
large volume of water. What a
clamor would arise if these agencies
OF commerce were required to pay
tribute to the States in the form OF
taxes if the States were to use the
identical valuations which the pro-
moters and manipulators of the
stock of these common carriers
themselves use in exacting tribute
from the people in order. to make
stock marketable which has little or
no intrinsic worth.
The mere suggestion of the ques-
ton indicates how great the issues
which Congress must deal with in the
near future, and the history of recent
events demonstrates how difficult
the pathway of any legislation affect.
ing such vast interests. But it is all
issue which must be faced.
President Roosevelt is said to be
fond of using a big stick. He used
his big stick during the session OF
Congress which has just ended. He
did not use it as often as he might,
nor was he absolutely unflinching
when he did bring it into action Ii
he had been loyal to the big stick far
more would have been accomplished
for the weapon was always handy,
always ready. That big stick was
the Democratic minority in Congress
which Republican President was
forced to use on his own unwilling
party. But for that big stick there
would have been no rate bill, no meat
bill, and a new star would
not have been emblazoned on our
flag.
l wish to be fair and give credit to
whom credit is due and / cheerfully
admit that in the ranks of the oppo-
sition were patriotic men anxious for
the best legislation, but they were too
few in numbers to enact legislation
On the other side OF both chambers
stood the Democratic minority, al.
ways ready to support the very best
measures offered. Very soon after
Congress met in December the Presi-
dent learned that he could not de.
pend on his party. He appealed to
the minority in the Senate and in the
House. Those two bands of Demo
Gratis did as true Democrats have al.
ways done since the government was
founded, stood firm and loyalty to
the interests of the millions who toll
Yes, a Republican President appealed
to us and threatened his own party
There is not an intelligent person in
the land but knows this is the unvar.
nished truth. We wrote upon the
statute books important legislation
but it had been demanded by the
Democratic platform years before
the President thought of it. If the
President had not broken faith with
his Democratic allies the legislation
would have been far better Even
though he belongs to a different po
litical party, l am glad the President
used his big stick, and am proud
that in this instance the big stick
was the Democratic representation
in your national assembly.
Fellow citizens, our country has
passed safely through many crisis
Today another crisis Of supreme i'm.
portance confronts US. Never in the
history of the Republic has there
been greater need for the very loftiest
patriotism, the very firmest devotion
to the public good.
In the evolution of our civilization
corporate agencies have appeared
never contemplated by our forefath.
ers. Through these agencies men
have in few years amassed fortunes
which are Il menace to the stability
OF our free institutions-to liberty
itself.
Behind and by means of these
agencies men commit all manner OF
offences against the State, the nation
humanity, the world. Almost every.
body and everything is to a greater
or less degree under the domination
of the modern trust or monopoly.
There is hardly merchantable com
modify the price of which they do
not fix. The products of forest, ol
field and of factory are controlled
by them, either in volume or in price
They fix largely the price of what we
buy as we'll as what we. sell. Our
national mentality has become Sc
blunted or so deranged that we have
by law protected them absolutely
against all competition. They fix
the daily wage of the man who tolls
and they fix the price Of almost
everything purchased by that daily
wage. When the working man him
self conscious of the mighty favor
bestowed upon the trust which con
trols his toll and time and wage de
mands a little protection for himself
it is scornfully denied to him, and be
is forced to work in competition with
the pauper labor of the world.
There is not an hour in the day but
the trusts are discriminating in price
against the very people who have
permitted them to exist and to pros
per.
Every year five hundred millions o
dollars of goods made for the most
part by the protected trust are sem
abroad even to the ends of the earti
and sold to anybody anywhere fol
less than they are sold to the peopl'
of the United States.
The discrimination is admitted
open, notorious defiant. If there i.
justice in Heaven this is all wrong.
The Republican party, under tn,
whip and spur of an outraged peopl,