Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1907-12-11

Is from six TO ten per cent, whereas In
Canada the corresponding difference II
but two per cent. Any plan must, OF
course. guard the interests of western
and southern bankers as carefully as 1t
guards the interests of New York or
Chicago bankers. and must be drawn
from the standpoints OF the farmer and
the merchant no less than from the
standpoints of the city banker and the
country banker"
Repeats Recommendations.
The president continues:
IT again urge on the congress the
need OF immediate attention to this
matter. We need a greater elasticity
in our currency; provided, of course,
that we recognize the even greater
need of a safe and secure currency.
There must always be the most rigid
examination by the national authori
ties. Provision should be made for an
emergency currency. The emergency
issue should, of course, be made with
an effective guaranty. and upon eondi-
lions 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 heavy tax. This
when the demand for il was urgent.
while securing its retirement as the
demand fell of. 1t is worth investi-
eating 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; legisla-
ton to this effect should be enacted for
the District of Columbia and the terri
tories"
Not Time for Tariff Discussion.
On the subject of the tariff the presi-
dent declares himself in favor of post
poning all consideration of the ques-
ton until after the presidential cleo
ton. He says:
This country Is definitely committed
to the protective system and any effort
to uproot it could not but cause wide
spread industrial disaster. In other
words. the principle of the present tar
if law could not with wisdom be
changed. But in a country of such
phenomenal growth as ours it Is prob
ably well that every dozen years or so
the tariff laws should be carefully
scrutinized so as to see that no ex-
cessiye or improper benefits are con-
ferred thereby, that proper revenue, is
provided, and that our foreign trade is
encouraged. There must always be as
a minimum a 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 a 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 a presidential election,
because as matter of fact experience
has conclusively shown that at such a
time 1t is Impossible to get men to
treat 1t 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 Tax.
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
| heritance tax should receive the care
| full attention Of our legisla tors. In my
| Judgment both Of these taxes should be
| part of our system Of federal taxation
I speak difidently about the income tax
| because one scheme for an income tax
was declared unconstitutional by the
| supreme court; while in addition it Is
| q difficult tax to administer in it's prac-
| teal working. Nevertheless. a gra d.
] uated income tax of the proper type
| would be desirable feature of federal
| taxation, and 1t is to be hoped that one
may be devised which the supreme
| court will declare constitutional. The
| Inheritance tax, however, is both a FL
| 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 q
! corresponding increase and burden Of
| taxation. The government has the alb
solute right to decide as to the term:
upon which a man shall receive the be
quest or devise from another. and thi:
! point in the devolution of property i.
especially appropriate. for the imposi
| ton of a tax"
Due Enforcement of Law.
On the matter of the impartial en-
forcement Of the laws the messag,
says:
"a few years ago there was lou,
complaint that the law could not be in
voked against wealthy offenders. Their
is no such complaint now. The cours
of the department of justice during tn
last few years has been such as t,
make it evident that no man stand
above the law, that no corporation i
so wealthy that it cannot be held t.
account. Everything that can be don
under the existing law. and with tn
existing state of public opinion. whicl
so profoundly influences both tn
courts and juries, has been done. Blu
the laws themselves need strengthen
ing in more than one important point
they should be made more definite s
that no honest man can he led unwit
tingly to break them, and so that tn
real wrongdoer can be readily punished
The two great evils in the executio
OF our criminal laws to-day are sent
mentally and technically For the lat
ter the remedy must come from tn
hands of the legislatures, the court
and the lawyers. The other must de
pend for its cure upon the gradua
growth of a sound public opinion whic
shall insist that regard for the law an
the demands of reason shall control al
other influences and emotions iE tn
jury box. Both of these evils must b
removed or public discomfort with tn
criminal law will continue"
Use of Injunctions.
Referring to the question of the use an
abuse of injunctions the president dc
clares:
Instances of abuse in the granting c
| iDiunCfinnS in Ia nor III =