Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1907-12-05
Militant Slogan Sounded by President in
His Message to Congress
Would Enforce the Laws as to the Rich
and Poor Alike
Greater Elasticity in Currency Declared TO
Be Pressing Need

erly managed.
The antitrust law should not be re-
pealed but it should be made both
more efficient and more in harmony
with actual conditions. It should be so
amended as to forbid only the kind OIL
which does harm TO the
general public, such amendment TO be
by, or to be an 1nclden-
of. grant of supervisory power to
the government over these big CON
Germs engaged in interstate business.
This should be accompanied by pro
vision for the compulsory publication
of accounts and the subject.on Oh
books and papers to the inspection o.
the government officials.
Combinations o. KID.
The government must now submit
to frksome and repeated delay before
obtaining final decision OF the courts
upon proceedings instituted, and even
a favorable decree may mean al
empty victory. Moreover, to attempt
to control these corporations by law
suits means to impose upon both the
department of justice and the courts
an impossible burden; it is not teas
ible to carry on more than a limited
number of such suits. Such law to
be really effective must OF course ne
administered by an executive BODY,
and not merely by means of lawsuits
Among the points to be aimed at
should be the prohibition of unhealthy
competition, such as by rendering
service at an actual loss for the pur'
pose of crushing out competition, the
prevention of initiation of capital, and
the prohibition of a corporations MAX
ing exclusive trade with itself a con
dition of having any trade with Itself
Reasonable agreements between, or
combinations of, corporations should
be permitted, provided they are first
submitted to and approved by some
appropriate government body.
The congress has the power to char
ter corporations to engage in inter
state and foreign commerce, and a
general law can be enacted under the
provisions of which existing corpora
lions could be created.
Ample, safe and speedy transporta-
ton facilities are even more neces-
sary than cheap transportation. There
fore. there is need for the investment
Of money which will provide for all
these things while at the same time
securing as far as is possible better
wages and shorter hours for their en-
ployes. Therefore, while there must
be just and reasonable regulation OF
rates, we should be the first to pro
test against any arbitrary and IN
thinking movement to cut them down
without the fullest and most careful
consideration of all interests con
cerned and of the actual needs of the
SITUATION. Only a special body Of men
acting for the national government
under authority conferred upon it ay
the congress is competent to pass
Judgment on such matter.
The Currency.
We need a greater elasticity in our
currensy; provided, Of course, thai
we recognize the even greater neeo
of a safe and secure currency. There
must always be the most rigid exam
nation OF the national authorities
PROVISION should be made for an emer
gency currency. The emergency issue
should. of course, be made with al
effective guaranty, and upon condl
tons carefully prescribed by the gov
eminent. Such emergency issue must
be based on adequate securities ap
proved by the government, and must
be issued under a heavy tax. This
would permit currency being issued
when the demand for it was urgent
while securing its retirement when
the demand fell off. 1t is worth inves
tigating to determine whether officers
and directors of national banks should
ever be allowed to loan to themselves
Trust companies should be subject to
the same supervision as banks; leg
islation to this effect should be en-
acted for the District of Colombia anO
territories.
Yet we must also remember that
even the wisest legislation on the sub,
ject can only accomplish a certain
amount. No legislation can by any
possibility guarantee the business
community against the results OF
speculative folly any more than it can
guarantee an individual against the
results of his extravaganza.
Revenue.
The income of the nation is in a
most satisfactory condition. For the
six fiscal years ending with the frs
OF July last. the total expenditures and
revenues of the national government
exclusive of the postal revenues ana
expenditures, were, in round numbers,
revenues, S3,465, 000,0 900 and expendi,
lures. .sS,275. 100000 The net excess
of income over expenditures including
in the latter the fifty millions expend-
ed for the Panama canal, was one
hundred and ninety million dollars
for the six years. an average OF about
thirty-one millions a year. This repre-
sents an approximation between In
come and outgo which 1t would be
hard to improve.
The Tariff.
II is probably well that every dozen