The Washington bee., 1907-12-07

impossible for the roads 70 sell the ad-
ditional securities necessary for such pur-
pots, but lead many Of the holders Of
them, both at home and abroad, TO dis
pose of what were already outstanding,
and that in consequence the market
woula be 50 largely oversuppled that
their values would shrink, dragging
down all kinds OF securities with them
until panic and disaster would take the
place OF confidence and property.
Responsible for FH0aciaI Conditions.
To say Il told you 50" is always un-
grcaious, but it is, trust, permissible 10
point ou: that from the day the Rate
Bill passed the trend has been in the
direction predicted, and while other
thing have contributed, that measure has
d full share Of responsibility for the un-
happy financial and indus rial conditions
with which we have been Overtaken.
While there should be efficient super
vision and regulation Of interstate COM
merce, and the carriers and corporations
II every kind engaged therein, It will
become more and more manifest as time
passes and results are developed that
this supervision must be sane, conserv--
ative-consistent with the Constitution
and with sound common sense.
The moral standing of the business
men Of this country has always been
high. II was never 50 high as it IS now.
There is consequently less occasion than
ever before to restrict commercial free
dom by statutory details of management
and surveillance that are apparently
framed on the theory that all men are
criminals. Such legislation hampers en-
terprise, retards business activity, and
discredits the whole nation.
Broad principles shhould govern in
all legislation, and the enforcement OF
the laws should be left to the apprOpri-
ate tribunals without unauthorized in
terference from any source, and above
all things there should be no liberation
of the idea that our Constitution has be-
come in part a misft and obsolete, ana
that it must be changed and vitalized
BY judicial interpretationor by the mere
assertion Of public sentiment in support
OF that which may be for the moment
desired, although manifestly unauthor-
ized by its provisions.
Suicidal TO Tinker 1Iitb Tdrif
From the beginning Of our government
our Constitution has been recognized BY
all the world as one Of the wisest and
most perfect organic laws ever framed
under it we have grown and prospered
as no other people ever has. We should
be slow to condemn it or to find fault
with it, but if we hnd It inadequate, or
that for any reoson it should be changed,
it contains a provision in accordance
with which the people can amend It, No
one should think OF amending It in anv
other manner. To change It in any
other way would be the beginning OF
the end. In my opinion no amendments
are necessary to enable the Government
to efficiently exercis all its powers, and
that no additional powers are necessary
to the proper supervision and regulation
of every matter that 1t IS the legitimate
subject Of legislation.
I note also that the committees refer
to the Republican policy OF protective
tariff and to the enforcement Of the
laws for the protection of all the rights
OF citizenship.
At another time | may take occasion
to speak on these subjects at some
length, but it is sufficient for present
purposes TO remark that with our surplus
revenues diminishing and our enormous
expenditures increasing, it would be like
adding the last grain of sand to under
take 10 tinker with the tariff. Under
the present tariff laws we have had the
greatest prosperity any country has ever
cnioved. and it has been because OF the
strength thus given us that we have
, stood up as we'll as we have under the
decline of values amounting to billions
Of dollars that has at last brought busi-
ness depression to employers and idle
ness to thousands of employees, II IS
20 the benehcent results OF that policy as
expressed in the Dingley law that we
must look for one Of the necessary fac
tors in the work of restricting prosperity
Equal Rights of Citizenship.
There will doubtless come time when
changes in that law can be made TO ad-
vantage, but that time IS not now.
So far as the protection OF the equal
rights of citizenship is concerned, my
views are we'll known.
When the Republican party falter' m
that high duty It will fail and go out OF
power, and it will deserve defeat.
What Lincoln and Grant and the great
men of their day did was not done IN
vain. Their achievements viii endure,