The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1907-12-10
GUEST OF ROOSEVELT
Tom Watson Lunches With Pres
ident at White House.
PRAISES CHIEF MAGISTRATE.

Visitor Speaks His Mind About Judi
cial Accidents and National Bank
currency--impressed by Hosts "Ear''
nestness and Human Sympathy"
Washington, Dec TO- Thomas E.
Watson Of Georgia, politician, student
of public affairs, editor and historian,
was guest Of President Roosevelt at
luncheon. What the president said to
him he asked to be excused from say
ing, as it would lie violation Of eth
les. But Mr. Watson talked freely of
what he said to the president
II told Mr.. Roosevelt" said Mr.
Watson, that the spectacle Of federal
judges enjoining state courts breeds a
condition not conducive TO orderly COY
II called his attention TO The fact
that Oliver Ellsworth of ATassachu-
setts in framing the original judiciary
act of 1872 introduced the clause that
provides that the eonstitutionality Of
the statute Of any state must first be
passed upon by Il state court and can
reach the federal authorities only by
a writ Of error from The state supreme
court to the United States supreme
court. IN other words, no federal
judge has jurisdiction over the eonsti
nationality of a state law except the
judges OF the supreme court. This law.
never has been repealed
Judicial Accidents
Therefore such judicial accidents as
Judge Jones of Alabama and Judge
Pritchard OF North Carolina have net
ed in plain violation Of the plain letter
of the law in assuming Jurisdiction
over eases brought By private corpora
lions to test the constitutionality of
state laws.
Corporation lawyers have pleaded
that such laws as deprive public serv-
ice corporations of net profits are con
fiscatory. No law can be coniiscatory
which leaves The owner oil property in
full possession, with title unimpaired.
That provision of the constitutions
which declares shat a citizen shall not
he deprived Of life, liberty or property
without due process of law means
what it says and no more. 1t comes
down to lis from Magma C'harta. The
vassaIs wanted to he secured from
arbitrary seizure Of person and prop
erty by the lord The lord wanted
similar protection against the king
The fourteenth amendment was sim
ply meant to protect recently enamel
pated slaves from arbitrary seizure OF
person or property by their recent
masters.
''There was no idea in the minds OF
either the barons who wrung the char
ter from King John or the trainers OF
the fourteenth amendment of anything
more than the safeguarding of person
and property. Profits on business We're
not thought OF Those lawyers and
judges who have confused security Of
title with the right to earn money have
forgotten the historic origin Of the
legal MAXIM
"a system of laws which prevents
me from making profit out of nay
farm is unjust and ought to be chang
ed RI the laws are so made that n
railroad cannot make a reasonable net
profit on it's actual invested capital
they are unjust and should be chang
edN But In neither instance is the law
confiscatory because possession is not
disturbed nor IT'S title impaired
Il talked TO Mr.. Roosevelt on these
subjects, and then. | went over with
him the financial situation.
Lectured the President.
but IN addition TO what / have
said,s Mr. Watson continued, Il told
the president this
$50 far as paper currency is con.
cerned it is question Of whether the
government viii use the national cred,
1t for the benefit OF all the, people o.
whether 5000 national banks shall be
allowed 10 use it for their own exclu
sive profit
''Nationa! bank currency is based up
on government bonds. and the bonds
Of course rest upon the power and the
wealth Of the nation. Whoever buys
the bonds becomes national creditor,
and when the bondhoder is allowed t.
issue 500 in notes against every 500
Of the bonds he is using the nations
credit to support his own notes. The
bonds are untaxed, and the notes pay
no tax, for, while the government col
lects. a nominal one-half of per cent
tax, It is well understood that the pro
ceeds of this tax do not cover thekac-
tual expenses of maintaining the cur.
rency bureau, safekeeping the bonds,
engraving notes and supervising the
operations of the banks
THE president is an ideal host, easy
and cordial in his manner. should