The Nevada County picayune. (Prescott, Ark.) 190?-current, 1907-12-05

| ana - the interests of Western
guardo ne bankers as carefully as II
| ShIao tne interests of New York or
| lineage bankers, and must no 80 vi
I'm I'm the standpoints of the farmer ga
e merchant no less than fror, 49,
ahuPoints of the city banker and ~
country banker" 'u 'As
| Hepeats Recommendation.
Inc president continues.
| ,..a cam urge on the congress III.
vi immediate attention TO this
~ we need a greater elasticity
| tho. currency; provided OF course
| ~ we recognize the even preatar
need OF safe and secure cnr-eo,,
! mere must always be the most rieid
! ga nation by the national autbori-
e!e'' PROVISION should be made for an
| t niei sehcY currency. The emergency
! issue should, of course. be nada viii
an ehectlVe guaranty. and upon condi-
I0 carefully prescribed by the gov
| 10 he ouch emergency issue must
rro, on adequate securities ap-
proved by the government, and must
| De issued under a heavy IA, TbJ.
would permit currency being tss,ad
"heh the demand for II was urgent
""t4e securing its retirement as the
demand fell off. It is worth investi-
satlns 70 determine whether officers
anu directors OF national banks should
~ NC ollo"ed 10 loan to themselves
rust companies should be subject to
the same supervision as banks. .legis1aD
ton to this effect should be enacted for
the District Of Columbia and the terri
tories"
rot Time for Tariff Discussion,
Oh the subject of the tariff the presi-
oeHt declares himself in favor of post
pohlng all consideration Of the dues-
,ioh until after the presidential cleo
ton. He says:
ms country is definitely committed
TO the protective system and any effort
10 uproot ii could not but cause wide
spread industrial disaster, In other
words the principle OF the present tar
III law could not with wisdom be
changed But in a country of such
phenomenal growth as ours 1t is prob
ap4Y Wen that every dozen years or so
the tariff laws should be carefully
sefutlnized so as to see that no ex-
cesslVe or improper benefits are con-
ferred thereby, that proper revenue Is
provided. and that our foreign trade is
encouraged. There must always be as
minimum tariff which will not only
allow for the collection OF an ample
revenue but which Will at least make
good the difference in cost of produc-
ton here and abroad; that is. the diff
ference in the labor cost here and
abroad, for the well being of the wage
worker must ever be cardinal point
of American policy. The sole consider
alton should be to see that the sum
total Of changes represent the public
good. This means that the subject can
not with wisdom be dealt with in the
year preceding presidential election.
because as a matter OF fact experience
has conclusively shown that at such a
time it is impossible to get men to
treat It from the standpoint of the
public good, In my judgment the wise
time TO deal with the matter is immedi-
ately after such election"
Income and Inheritance Tx
There has been no change in the
mind of the president concerning the
advisability of an income tax and an
inheritance tax. In the message he
says:
When our tax taws are revised the
question OF an income tax and an in
heritanee tax should receive the care
full attention OF our legislators. In my
judgment both OF these taxes should be
part OF our system of federal taxation.
] speak difidently about the income tax
because one scheme for an income tax
was declared unconstitutional by the
supreme court; while in addition II is
difficult tax to administer in its prac-
teal working. Nevertheless. a grad
uated income tax OF the proper type
would be a desirable feature OF federal
taxation. and It is to be hoped that one
may be devised which the supreme
court will declare constitutional. The
Inheritance tax, however Is both far
better method of taxation. and far more
important for the purpose OF having
the fortunes of the country bear in
proportion to their increase in size a
corresponding increase and burden of
taxation. The government has the alb
solute right TO decide as to the terms
upon which a man shall receive the be-
quest or devise from another. and this
point in the devolution OF property is
especially appropriate for the imposi
ton of tax"
Due Enforcement OF Law.
On the matter OF the impartial en-
forcement of the laws the message
says:
"A few years ago there was loud
complaint that the law could not be In
voked against wealthy offenders. There
is no such complaint now. The course
of the department OF justice during the
last few years has been such as to
make II evident that no man stands
above the law. that no corporation is
so wealthy that IL cannot be held to
account. Everything that can be done
under the existing law. and with the
existing state OF public opinion. which
so profoundly influences both the
courts and juries, has been done But
the laws themselves need strengthen
ing in more than one important point:
they should be made more definite so
that no honest man can be led unwit-
tingly to break them, and so that the
real wrongdoer can be readily punished.
THE two great evils in the execution
OF our criminal laws to day are senti-
and technically. For the lat
ter the remedy must come from the
hands OF the legislatures, the courts
and the lawyers. The other must de-
pend for its cure upon the gradual
growth OF sound public opinion which
shall insist that regard for the law and
the demands OF reason shall control all
other influences and emotions in the
Jury box. Both OF these evils must be
or public discomfort with the
or minal law will continue"
Use of InjunctiOns.
Referring to the question OF the use and
abuse OF injunctions the president de-
clares:
Instances OF abuse in the granting OF
intunctons in labor disputes continue to
occur, and the resentment in the minds
Of those who feel that their rights are