The St. Lucie County tribune. (Fort Pierce, St. Lucie County, Fla.) 1905-1920, 1907-12-06

mont under authority CONFERRED ul,vn /.
ny the congress Is competent to pass
Judgment on such Il matter
Those who fear from any reason the
extension Of federal activity will TO
well to study the history not only Of
the national banking act, but OF the
pure food law, and notably the meat
Inspection law recently enacted. The
pure food law was opposed 80 violent
~ that its passage was delayed for u
decade, yet 1t has worked unmiyed and
Immediate good The meat inspection
law was even more violently nssailed,
ami the same men who now dcnounce
the attitude of the national govern
mcnt In seeking to oversee and control
the workings of interstate common car
rlers and business concerns then as
serted that we were "discredtng and
running Il great American industry"
TWO years have not elapsed. anu al
ready Ii has become evident that the
great benefit the law confcrs upon the
public Is accompanied by IN equal ben
EFT to the reputable packing establish
mcnts. The latter are better off under
the law than they were without 1t.
The benefit to interstate common car
riers and business concerns from the
legislation | advocate would lie equal.
~ marked.
Pure Food Law.
incidentally In the passage OF the
pure food law the action Of the varl.
Gus state food and dairy commissions
crs showed In striking fashion how
much good for the whole people results
from the hearty cooperation Of the
federal and state officials In securing
Il given reform. 1t Is primarily to the
action of these state commissioners
that we owe the enactment of this
law, for they aroused the people, first
to demand the enactment and enforce
ment Of state laws on the subject and
then the enactment of the federal law,
without which the state laws were
largely ineffective. There must be the
closest cooperation between the ma
tional and state governments In adj
ministering these laws.
Currency Legislation Needed.
again urge on the congress the
need Of immediate attention to this
matter. We need q greater elasticity
IN our currency. provided OF course
that we recognize the even greater
need Of safe and secure currency.
Provision should be made for an
emergency currency. The emergency
issue should of course be made with
an effective guarantee and upon condi'
tlons 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 II heavy tax This would
permit currency being issued when the
demand for II was urgent. while secur-
ing It's retirement as the demand fell
off. 1t Is worth investigating to de-
termne whether officers and directors
of national banks should ever be al
lowed to loan to themselves. Trust
companies should be subject to the
same supervision as banks. Lcgisla-
ton to this effect should he enacted for
the District Of Columbia and the ter
ritOrleS.
Yet we must also remember that
even the wisest legislation on the sub
ject can only accomplish Il certain
amount. No legislation can by any
possibility guarantee the business con-
munity against the results OF specula
tive folly any more than 1t can gllaran.
tee an individual against the results or
his extravaganza. When an individual
mortgages his house to buy an auto
mobile he Invites disaster and when
wealthy men or men who pose rs such
or are unscrupulously or foOlishly eager
to become such indulge In reckless
speculation, especially II 1t Is accom-
panied by dishonesty. they jeopardlze
not only their own future, but the fu-
ture of all their innocent fellow citl.
zens, for they expose the whole busi-
ness community to panic and distress.
Can't Revise Tariff Now.
This country is definitely committed
to the protective system. and any ef'
fort to uprOOt 1t could not but cause
widespread industrial disaster In
other words. the principle Of the pres
ent tariff law could not with wisdom
he changed But In a country OF such
phenomenal growth as ours 1t Is prob
ably well that every dozen years or so
the tariff laws should be carefully scru'
tinized so as to see that no excessive
or improper benefits are conferred
thereby. that proper revenue Is provid'
ed and that our foreign trade Is en-
couraged. There must always be rs
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
ioh hoVn On6